Retail · West Des Moines, Iowa
Jordan Creek Town Center
Public CMBS trusts hold $170.0M of the loan on Jordan Creek Town Center at 7.02% that reaches maturity on February 1, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $170,000,000
- Original balance (same notes)
- $170,000,000
- Interest rate
- 7.02% fixed
- Originated
- February 1, 2024
- Maturity
- February 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 31, 2028
- Master servicer
- Midland Loan Services
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 101 Jordan Creek Parkway, West Des Moines, IA 50266
- Metro
- Des Moines-West Des Moines, IA
- Rentable area
- 940,038 sq ft
- Built
- 2004
- Largest tenants
- Dillard's; SCHEELS ALL SPORTS; Residence Inn
- Value at securitization
- $321.0M (Dec 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.03x | 1.90x |
| Occupancy | 97% | 95% |
| Net operating income (annualized from 3 months) | $24.5M | $23.3M |
| Debt yield | 13.7% |
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 BANK5 Trust 2024-5YR6 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Net operating income is 5% below the underwritten figure ($23.3M a year against $24.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.03x at securitization to 1.90x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $170.0M | Current | No | 1.90x | 94% |
| August 2026 | $170.0M | Current | No | 1.90x | 95% |
| July 2026 | $170.0M | Current | No | 2.02x | 94% |
| June 2026 | $170.0M | Current | No | 2.05x | 94% |
| May 2026 | $170.0M | Current | No | 2.05x | 94% |
| April 2026 | $170.0M | Current | No | 2.05x | 94% |
| March 2026 | $170.0M | Current | No | 2.05x | 94% |
| February 2026 | $170.0M | Current | No | 2.05x | 94% |
| January 2026 | $170.0M | Current | No | 2.05x | 94% |
| December 2025 | $170.0M | Current | No | 2.05x | 94% |
| November 2025 | $170.0M | Current | No | 1.99x | 94% |
| October 2025 | $170.0M | Current | No | 1.99x | 94% |
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 10 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C25 | 6 | $51,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 Trust 2024-5YR6 | 4A | $28,500,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2024-5YR7 | 8 | $28,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK5 2024-5YR7 | 8A | $16,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK5 Trust 2024-5YR6 | 4B | $12,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 Trust 2024-5YR6 | 4 | $10,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2024-5YR7 | 8B | $10,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK5 Trust 2024-5YR6 | 4C | $7,500,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK5 2024-5YR7 | 8C | $4,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK5 Trust 2024-5YR6 | 4D | $3,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Des Moines-West Des Moines loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Hotel Fort Des Moines | Des Moines, IA | Hotel | $38.5M | 7.16% | Dec 2029 | 1.36x | 65% | Current |
All loans maturing in 2029 · All Des Moines-West Des Moines 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.