Office · Kapolei, Hawaii
Honolulu Fbi Office
Public CMBS trusts hold $47.2M of the loan on Honolulu Fbi Office at 7.253% that reaches maturity on July 6, 2035, in 8 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $47,200,000
- Original balance (same notes)
- $47,200,000
- Interest rate
- 7.253% fixed
- Originated
- July 1, 2025
- Maturity
- July 6, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 5, 2035
- Master servicer
- Midland
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 91-1300 Enterprise Street, Kapolei, HI 96707
- Metro
- Urban Honolulu, HI
- Rentable area
- 150,365 sq ft
- Built
- 2011
- Largest tenants
- The United States of America acting by and through Federal Bureau of I
- Value at securitization
- $87.4M (Mar 2025)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.67x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $5.8M | n/a |
Watch flags
Computed from the BBCMS Mortgage Trust 2025-C39 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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
- The filing gives Oct 2032 as the lease end date for the largest tenant (The United States of America acting by and through Federal Bureau of I), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $47.2M | Current | No | n/a | n/a |
| August 2026 | $47.2M | Current | No | n/a | n/a |
| July 2026 | $47.2M | Current | No | n/a | n/a |
| June 2026 | $47.2M | Current | No | n/a | n/a |
| May 2026 | $47.2M | Current | No | n/a | n/a |
| April 2026 | $47.2M | Current | No | 2.09x | 100% |
| March 2026 | $47.2M | Current | No | 2.09x | 100% |
| February 2026 | $47.2M | Current | No | 1.91x | 100% |
| January 2026 | $47.2M | Current | No | 1.91x | 100% |
| December 2025 | $47.2M | Current | No | n/a | n/a |
| November 2025 | $42.2M | Current | No | n/a | n/a |
| October 2025 | $42.2M | Current | No | n/a | n/a |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35 | 7 | $27,200,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2025-B41 Mortgage Trust | 12 | $15,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BBCMS Mortgage Trust 2025-C39 | 30 | $5,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Urban Honolulu loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Ali'i Place | Honolulu, HI | Office | $46.6M | 7.022% | Feb 2035 | 2.45x | 100% | Current |
| StorQuest Kapolei | Kapolei, HI | Self storage | $5.8M | 6.445% | Mar 2035 | n/a | n/a | Current |
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.