Multifamily portfolio, 6 properties · Multiple locations
ICONIQ Multifamily Portfolio
Public CMBS trusts hold $110.0M of the loan on this portfolio at 5.18% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $110,000,000
- Original balance (same notes)
- $110,000,000
- Interest rate
- 5.18% fixed
- Originated
- November 5, 2024
- Maturity
- November 6, 2029
- Payments
- Interest only for the full term
- Prepayment premium ends
- May 5, 2029 (yield maintenance)
- Master servicer
- Wells Fargo Bank, NA
- Originator
- German American Capital Corporation; Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 1,790
- Value at securitization
- $831.6M
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.45x | 1.23x |
| Occupancy | 92% | 87% |
| Net operating income | $43.7M | $39.9M |
| Debt yield | 36.2% |
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 BMO 2024-5C8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x 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
- Occupancy has fallen from 92% when the loan was securitized to 87%.
- Net operating income is 9% below the underwritten figure ($39.9M a year against $43.7M).
- Debt service coverage moved from 2.45x at securitization to 1.23x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $110.0M | Current | No | 1.23x | 87% |
| August 2026 | $110.0M | Current | No | 1.23x | 87% |
| July 2026 | $110.0M | Current | No | 1.23x | 87% |
| June 2026 | $110.0M | Current | No | 1.23x | 87% |
| May 2026 | $110.0M | Current | No | 1.23x | 87% |
| April 2026 | $110.0M | Current | No | 1.23x | 87% |
| March 2026 | $110.0M | Current | No | 1.23x | 87% |
| February 2026 | $110.0M | Current | No | 1.20x | 89% |
| January 2026 | $110.0M | Current | No | 1.20x | 89% |
| December 2025 | $110.0M | Current | No | 1.21x | 80% |
| November 2025 | $110.0M | Current | No | 1.21x | 80% |
| October 2025 | $110.0M | Current | No | 1.21x | 80% |
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 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2024-5C8 Mortgage Trust | 3 | $45,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Wells Fargo Commercial Mortgage Trust 2024-5C2 | 10 | $26,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| Benchmark 2024-V12 Mortgage Trust | 14 | $20,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BMO 2024-5C8 Mortgage Trust | 3B | $13,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2024-5C8 Mortgage Trust | 3A | $5,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other multifamily loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Jackson Park | Long Island City, NY | Multifamily | $175.0M | 3.25% | Oct 2029 | 2.27x | 99% | Current |
| 620 W 153rd Street | New York, NY | Multifamily | $117.0M | 6.13% | Apr 2029 | 1.35x | 94% | Current |
| City Hyde Park | Chicago, IL | Multifamily | $108.7M | 4.70% | Oct 2029 | 1.03x | 83% | Current |
| The Piazza | Philadelphia, PA | Multifamily | $108.5M | 5.91% | Aug 2029 | 1.15x | 100% | Current |
| 5452-5466 S. Ellis Avenue | Chicago, IL | Multifamily | $106.8M | 4.554% | Feb 2029 | n/a | n/a | Current |
| Tower 28 | Long Island City, NY | Multifamily | $102.7M | 3.784% | Apr 2029 | n/a | n/a | Current |
| Black Spruce - Briarwood and Prospect | NY | Multifamily | $91.2M | 6.567% | Dec 2029 | 1.23x | 97% | Current |
| Lotus 315 & Essence 144 | East Orange, NJ | Multifamily | $86.1M | 6.42% | Jun 2029 | 1.20x | 94% | 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.