Multifamily portfolio, 4 properties · Phenix City, Alabama
Horn Southeast Multifamily Portfolio - Garrett Woods Apts.
This portfolio is financed with a $18.4M CMBS loan at 6.74% that reaches maturity on January 6, 2029, in 2 years and 2 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
- $18,350,000
- Original balance (same notes)
- $18,350,000
- Interest rate
- 6.74% fixed
- Originated
- December 21, 2023
- Maturity
- January 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- February 5, 2026
- Prepayment premium ends
- September 5, 2028 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred January 8, 2026
- Workout strategy
- Foreclosure
- Defeasance
- Partly defeased
The property
- Address
- 300 6th Place, South, Phenix City, AL 36869
- Value at securitization
- $27.9M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $1.8M | n/a |
Watch flags
Computed from the Benchmark 2024-V5 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in every report since December 2025.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Horn Southeast Multifamily Portfolio - Garrett Woods Apts. | Phenix City, AL | Multifamily | n/a | n/a |
| Walnut Creek Apartments | Macon, GA | Multifamily | n/a | n/a |
| Live Marathon Apartments | Columbus, GA | Multifamily | n/a | n/a |
| Mason Drive Apartments | Columbus, GA | Multifamily | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $18.4M | 90+ days delinquent | Yes | n/a | n/a |
| August 2026 | $18.4M | 90+ days delinquent | Yes | n/a | n/a |
| July 2026 | $18.4M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $18.4M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $18.4M | 60-89 days delinquent | Yes | n/a | n/a |
| April 2026 | $18.4M | 30-59 days delinquent | Yes | n/a | n/a |
| March 2026 | $18.4M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| February 2026 | $18.4M | 90+ days delinquent | Yes | n/a | n/a |
| January 2026 | $18.4M | 60-89 days delinquent | No | n/a | n/a |
| December 2025 | $18.4M | 30-59 days delinquent | No | n/a | n/a |
| November 2025 | $18.4M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
| October 2025 | $18.4M | Payment not received but still in grace period or not yet due | 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.
Special-servicing history
- Transferred to the special servicer January 8, 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 |
|---|---|---|---|---|
| Benchmark 2024-V5 Mortgage Trust | 18 | $18,350,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other Alabama loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Hill | Columbus, GA | Multifamily | $4.1M | 8.245% | Jan 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.