Other portfolio, 102 properties · Multiple locations
ILPT 2025 Portfolio
Public CMBS trusts hold $166.6M of the loan on this portfolio at 5.376% that reaches maturity on July 9, 2030, in 3 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
- $166,571,750
- Original balance (same notes)
- $166,571,750
- Interest rate
- 5.376% fixed
- Originated
- June 26, 2025
- Maturity
- July 9, 2030
- Payments
- Interest only for the full term
- Prepayment premium ends
- January 8, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- MSMCH/BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Value at securitization
- $1.7B (Apr 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.07x | 1.28x |
| Occupancy | 83% | 100% |
| Net operating income (annualized from 3 months) | $84.3M | $84.3M |
| Debt yield | 50.6% |
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 Benchmark 2025-V16 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 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 risen from 83% when the loan was securitized to 100%.
- Debt service coverage moved from 2.07x at securitization to 1.28x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $166.6M | Current | No | 1.28x | 100% |
| August 2026 | $204.6M | Current | No | 1.28x | 100% |
| July 2026 | $179.9M | Current | No | 2.10x | 93% |
| June 2026 | $166.6M | Current | No | n/a | n/a |
| May 2026 | $166.6M | Current | No | n/a | n/a |
| April 2026 | $166.6M | Current | No | n/a | n/a |
| March 2026 | $166.6M | Current | No | n/a | n/a |
| February 2026 | $166.6M | Current | No | n/a | n/a |
| January 2026 | $166.6M | Current | No | n/a | n/a |
| December 2025 | $166.6M | Current | No | n/a | n/a |
| November 2025 | $173.1M | Current | No | 1.96x | 83% |
| October 2025 | $160.0M | 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 11 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2025-V16 Mortgage Trust | 1 | $38,623,966 | Sep 2026 | SEC filing, September 30, 2026 |
| BBCMS Mortgage Trust 2025-5C36 | 1 | $38,623,966 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2025-5YR16 | 1 | $32,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2025-5C36 | 1B | $13,732,965 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2025-V16 Mortgage Trust | 1B | $12,874,655 | Sep 2026 | SEC filing, September 30, 2026 |
| Benchmark 2025-V17 Mortgage Trust | 24 | $7,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C2 | 19 | $6,571,750 | Sep 2026 | SEC filing, October 2, 2026 |
| Benchmark 2025-V16 Mortgage Trust | 1A | $6,376,034 | Sep 2026 | SEC filing, September 30, 2026 |
| BBCMS Mortgage Trust 2025-5C36 | 1A | $6,376,034 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2025-5C36 | 1C | $2,267,035 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2025-V16 Mortgage Trust | 1C | $2,125,345 | Sep 2026 | SEC filing, September 30, 2026 |
Other other loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Radius at Harbor Bay | Alameda, CA | Other | $166.4M | 6.126% | Jan 2030 | 1.48x | 90% | Current |
| The Wharf | Washington, DC | Other | $102.5M | 5.439% | Jul 2030 | n/a | n/a | Current |
| ExchangeRight Net Leased Portfolio #41 | Other | $66.3M | 3.205% | Dec 2030 | 2.96x | 100% | Current | |
| Bushwick Multifamily Portfolio | NY | Other | $52.1M | 3.87% | Mar 2030 | 2.01x | 99% | Current |
| ExchangeRight Net Leased Portfolio 39 | Other | $49.7M | 4.025% | Oct 2030 | 2.52x | 100% | Current | |
| Red Rock Portfolio | New York, NY | Other | $49.0M | 6.29% | Oct 2030 | n/a | n/a | Current |
| Powered Shell Portfolio Sterling | VA | Other | $48.9M | 3.268% | Jan 2030 | 2.95x | 100% | Current |
| ExchangeRight Net Leased Portfolio 32 | Other | $45.0M | 3.454% | Mar 2030 | 4.07x | 100% | 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.