Office · Vancouver, Washington
Kirkwood Business Park
Kirkwood Business Park is financed with a $5.0M CMBS loan at 7.26% that reaches maturity on June 1, 2030, in 3 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,000,000
- Original balance (same notes)
- $5,000,000
- Interest rate
- 7.26% fixed
- Originated
- May 29, 2025
- Maturity
- June 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 31, 2027
- Prepayment premium ends
- January 31, 2030 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2101, 2103 and 2105 Northeast 129th Street, Vancouver, WA 98686
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Rentable area
- 33,244 sq ft
- Built
- 2002
- Largest tenants
- Life Stance; Kirkwood & Kirkwood; Bright Now Dental
- Value at securitization
- $9.0M (Mar 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.71x | 1.92x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $630K | $705K |
| Debt yield | 14.1% |
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 2025-5YR15 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 12% above the underwritten figure ($705K a year against $630K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.71x at securitization to 1.92x on the latest statements.
- The filing gives Feb 2029 as the lease end date for the largest tenant (Life Stance), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.0M | Current | No | 1.92x | 100% |
| August 2026 | $5.0M | Current | No | 1.92x | 100% |
| July 2026 | $5.0M | Current | No | 1.92x | 100% |
| June 2026 | $5.0M | Current | No | 1.92x | 100% |
| May 2026 | $5.0M | Current | No | 1.92x | 100% |
| April 2026 | $5.0M | Current | No | 1.81x | 100% |
| March 2026 | $5.0M | Current | No | 1.81x | 100% |
| February 2026 | $5.0M | Current | No | 1.81x | 100% |
| January 2026 | $5.0M | Current | No | 1.76x | 100% |
| December 2025 | $5.0M | Current | No | 1.76x | 100% |
| November 2025 | $5.0M | Current | No | 1.76x | 100% |
| October 2025 | $5.0M | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2025-5YR15 | 30 | $5,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| King City SV | King City, OR | Multifamily | $13.2M | 3.03% | Sep 2030 | n/a | n/a | Current |
| Cornerstone Apartments, Portland | Portland, OR | Multifamily | $12.7M | 6.382% | Feb 2030 | 0.79x | 72% | Current |
| 6410 Halsey | Portland, OR | Mixed use | $10.9M | 3.908% | Jan 2030 | 1.77x | 100% | Current |
| 228 Ne Broadway | Portland, OR | Self storage | $7.4M | 5.85% | Sep 2030 | 1.58x | 100% | Current |
| 54 Woodstock | Portland, OR | Multifamily | $5.5M | 4.19% | Jan 2030 | 1.31x | 92% | Current |
| Riverview Mhc | Damascus, OR | Manufactured housing | $5.4M | 6.527% | Apr 2030 | 1.77x | 99% | Current |
All loans maturing in 2030 · All Portland-Vancouver-Hillsboro 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.