Manufactured housing · Rio Grande, New Jersey
Grande Woods South Mhc
Grande Woods South Mhc is financed with a $10.5M CMBS loan at 6.78% that reaches maturity on April 6, 2029, in 2 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $10,500,000
- Original balance (same notes)
- $10,500,000
- Interest rate
- 6.78% fixed
- Originated
- April 2, 2024
- Maturity
- April 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 5, 2028
- Master servicer
- Wells Fargo Bank, NA
- Originator
- LMF Commercial, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3170 Route 9 South, Rio Grande, NJ 08242
- Metro
- Atlantic City-Hammonton, NJ
- Units, rooms or beds
- 248
- Built
- 1966
- Value at securitization
- $19.4M (Feb 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.57x | 1.02x |
| Occupancy | 96% | 96% |
| Net operating income (annualized from 3 months) | $1.1M | $746K |
| Debt yield | 7.1% |
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 2024-5C27 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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
- Net operating income is 34% below the underwritten figure ($746K a year against $1.1M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.57x at securitization to 1.02x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.5M | Current | No | 1.02x | 96% |
| August 2026 | $10.5M | Current | No | 1.02x | 96% |
| July 2026 | $10.5M | Current | No | 1.02x | 96% |
| June 2026 | $10.5M | Current | No | 1.16x | 96% |
| May 2026 | $10.5M | Current | No | 1.16x | 96% |
| April 2026 | $10.5M | Current | No | 1.40x | 96% |
| March 2026 | $10.5M | Current | No | 1.40x | 96% |
| February 2026 | $10.5M | Current | No | 1.40x | 96% |
| January 2026 | $10.5M | Current | No | 1.40x | 96% |
| December 2025 | $10.5M | Current | No | 1.40x | 96% |
| November 2025 | $10.5M | Current | No | 1.56x | 99% |
| October 2025 | $10.5M | Current | No | 1.56x | 99% |
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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C27 | 32 | $10,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Atlantic City-Hammonton loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Osprey Cove Mhc | Ocean View, NJ | Manufactured housing | $7.1M | 6.23% | Nov 2029 | 1.46x | 100% | Current |
| Dollar General Tuckahoe | Tuckahoe, NJ | Retail | $1.1M | 4.20% | Dec 2029 | 1.44x | 100% | Current |
All loans maturing in 2029 · All Atlantic City-Hammonton 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.