Multifamily · Fort Walton Beach, Florida
Estates at Palm Bay
Estates at Palm Bay is financed with a $60.7M CMBS loan at 6.55% that reaches maturity on September 6, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $60,721,487
- Original balance (same notes)
- $61,000,000
- Interest rate
- 6.55% fixed
- Originated
- August 14, 2024
- Maturity
- September 6, 2029
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Barclays
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred March 9, 2026
- Workout strategy
- Bankruptcy
- Defeasance
- None reported
The property
- Address
- 302 Blessinger Drive, Fort Walton Beach, FL 32547
- Metro
- Crestview-Fort Walton Beach-Destin, FL
- Units, rooms or beds
- 300
- Built
- 1992
- Value at securitization
- $87.2M (Jun 2024)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.24x |
| Occupancy | 96% | 92% |
| Net operating income | n/a | $5.0M |
| Debt yield | 8.3% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BBCMS Mortgage Trust 2024-5C29 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in every report since January 2026.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 96% when the loan was securitized to 92%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $60.7M | 90+ days delinquent | Yes | 1.24x | 92% |
| August 2026 | $60.7M | 90+ days delinquent | Yes | 1.24x | 92% |
| July 2026 | $60.7M | 90+ days delinquent | Yes | 1.24x | 92% |
| June 2026 | $60.7M | 90+ days delinquent | Yes | 1.24x | 92% |
| May 2026 | $60.7M | 60-89 days delinquent | Yes | 1.24x | 92% |
| April 2026 | $60.7M | 60-89 days delinquent | Yes | 1.24x | 92% |
| March 2026 | $61.0M | 30-59 days delinquent | Yes | 1.24x | 92% |
| February 2026 | $61.0M | 60-89 days delinquent | No | 1.24x | 92% |
| January 2026 | $61.0M | 30-59 days delinquent | No | 1.24x | 92% |
| December 2025 | $61.0M | Late payment but less than 30 days delinquent | No | 1.45x | 88% |
| November 2025 | $61.0M | 30-59 days delinquent | No | 1.45x | 88% |
| October 2025 | $61.0M | 30-59 days delinquent | No | 1.45x | 88% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Special-servicing history
- Transferred to the special servicer March 9, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C29 | 4 | $60,721,487 | Sep 2026 | SEC filing, September 29, 2026 |
Other Crestview-Fort Walton Beach-Destin loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Coastline Apartments | Fort Walton Beach, FL | Multifamily | $48.0M | 5.753% | Feb 2029 | n/a | n/a | Current |
| Sunset King Lake | DeFuniak Springs, FL | Manufactured housing | $4.8M | 7.80% | Jun 2029 | 0.71x | 32% | Current |
| Offices on Grand Boulevard | Miramar Beach, FL | Office | $2.4M | 4.915% | Jan 2029 | 4.81x | 94% | Current |
All loans maturing in 2029 · All Crestview-Fort Walton Beach-Destin loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.