Hotel · Milwaukee, Wisconsin
Kimpton Journeyman Hotel
Kimpton Journeyman Hotel is financed with a $30.0M CMBS loan at 7.38% that reaches maturity on October 1, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $30,000,000
- Original balance (same notes)
- $30,000,000
- Interest rate
- 7.38% fixed
- Originated
- September 16, 2024
- Maturity
- October 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 31, 2026
- Prepayment premium ends
- April 30, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMCB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 310 East Chicago Street, Milwaukee, WI 53202
- Metro
- Milwaukee-Waukesha, WI
- Units, rooms or beds
- 158
- Built
- 2016
- Value at securitization
- $56.0M (Jul 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.84x | -0.47x |
| Occupancy | 71% | 57% |
| Net operating income (annualized from 3 months) | $4.1M | $-1.1M |
| Debt yield | -3.6% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BANK5 2024-5YR10 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 2026.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 71% when the loan was securitized to 57%.
- Net operating income is 126% below the underwritten figure ($-1.1M a year against $4.1M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.84x at securitization to -0.47x on the latest statements.
- At -0.47x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.0M | Current | No | -0.47x | 57% |
| August 2026 | $30.0M | Current | No | -0.47x | 57% |
| July 2026 | $30.0M | Current | No | -0.47x | 57% |
| June 2026 | $30.0M | Current | No | 1.85x | 77% |
| May 2026 | $30.0M | Current | No | 1.85x | 77% |
| April 2026 | $30.0M | Current | No | 1.85x | 77% |
| March 2026 | $30.0M | Current | No | 1.16x | 72% |
| February 2026 | $30.0M | Current | No | 1.16x | 72% |
| January 2026 | $30.0M | Current | No | 1.16x | 72% |
| December 2025 | $30.0M | Current | No | 1.16x | 72% |
| November 2025 | $30.0M | Current | No | 1.16x | 72% |
| October 2025 | $30.0M | Current | No | 1.16x | 72% |
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2024-5YR10 | 7 | $30,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Milwaukee-Waukesha loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 401 & 395 North Executive Drive | Brookfield, WI | Office | $27.0M | 3.89% | Aug 2029 | n/a | n/a | Delinquent |
| Arctic Glacier - Menomonee | Menomonee Falls, WI | Industrial | $24.6M | 4.66% | Apr 2029 | n/a | n/a | Current |
| Pick N Save - Oconomowoc | Oconomowoc, WI | Retail | $19.9M | 4.032% | Aug 2029 | n/a | n/a | Current |
| Shoppes at Fox River | Waukesha, WI | Retail | $17.9M | 4.48% | Mar 2029 | n/a | n/a | Current |
| Embassy Suites Milwaukee Brookfield | Brookfield, WI | Hotel | $16.0M | 3.91% | Aug 2029 | 0.70x | 73% | Current |
| DentaQuest | Milwaukee, WI | Office | $13.4M | 4.887% | Mar 2029 | n/a | n/a | Current |
| 241 North Broadway | Milwaukee, WI | Office | $11.8M | 4.051% | Aug 2029 | 1.23x | 83% | Current |
| The Quin | Milwaukee, WI | Multifamily | $10.1M | 4.19% | Dec 2029 | 1.44x | 99% | 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.