Retail · Lacey, Washington
Lacey Market Square
Lacey Market Square is financed with a $26.1M CMBS loan at 8.06% that reaches maturity on November 6, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $26,100,000
- Original balance (same notes)
- $26,100,000
- Interest rate
- 8.06%
- Originated
- October 11, 2023
- Maturity
- November 6, 2028
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- CREFI
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 700 720 730 804 & 808 Sleater Kinney Rd SE, Lacey, WA 98503
- Metro
- Olympia-Lacey-Tumwater, WA
- Rentable area
- 276,499 sq ft
- Built
- 1978, renovated 2000
- Largest tenants
- FRED MEYER; Planet Fitness; Daiso California LLC
- Value at securitization
- $45.4M (Mar 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.50x |
| Occupancy | 96% | 100% |
| Net operating income (annualized from 6 months) | n/a | $3.2M |
| Debt yield | 12.3% |
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 2023-5C2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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
- Occupancy has risen from 96% when the loan was securitized to 100%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.1M | Not reported | No | 1.50x | 100% |
| August 2026 | $26.1M | Not reported | No | 1.43x | 99% |
| July 2026 | $26.1M | Not reported | No | 1.43x | 99% |
| June 2026 | $26.1M | Not reported | No | 1.43x | 99% |
| May 2026 | $26.1M | Not reported | No | 1.43x | 99% |
| April 2026 | $26.1M | Not reported | No | 1.43x | 99% |
| March 2026 | $26.1M | Not reported | No | 1.43x | 98% |
| February 2026 | $26.1M | Not reported | No | 1.43x | 98% |
| January 2026 | $26.1M | Not reported | No | 1.43x | 98% |
| December 2025 | $26.1M | Not reported | No | 1.40x | 98% |
| November 2025 | $26.1M | Not reported | No | 1.40x | 97% |
| October 2025 | $26.1M | Not reported | No | 1.40x | 97% |
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 |
|---|---|---|---|---|
| BMO 2023-5C2 Mortgage Trust | 10 | $26,100,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Olympia-Lacey-Tumwater loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Stonebrook Apartments | Tumwater, WA | Multifamily | $21.5M | 4.896% | Mar 2028 | 1.38x | 95% | Current |
| Woodbury Apartments | Olympia, WA | Multifamily | $19.0M | 5.218% | Nov 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Olympia-Lacey-Tumwater 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.