Industrial · Lexington, Kentucky
Lexmark HQ
Public CMBS trusts hold $82.5M of the loan on Lexmark HQ at 7.44% that reaches maturity on March 6, 2029, in 2 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $82,500,000
- Original balance (same notes)
- $82,500,000
- Interest rate
- 7.44% fixed
- Originated
- February 13, 2024
- Maturity
- March 6, 2029
- Payments
- Interest only for the full term
- Prepayment premium ends
- September 5, 2028 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc., UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 740 West New Circle Rd 1101 Russell Cave Road, Lexington, KY 40511
- Metro
- Lexington-Fayette, KY
- Rentable area
- 1,449,073 sq ft
- Built
- 1957, renovated 2002
- Largest tenants
- Lexmark International, Inc.
- Value at securitization
- $133.0M (Jan 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.12x | 2.21x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $13.2M | $27.8M |
| Debt yield | 33.7% |
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 BMO 2024-5C5 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
- Net operating income is 111% above the underwritten figure ($27.8M a year against $13.2M; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $82.5M | Current | No | 2.21x | 100% |
| August 2026 | $82.5M | Current | No | 2.21x | 100% |
| July 2026 | $82.5M | Current | No | 2.22x | 100% |
| June 2026 | $82.5M | Current | No | 2.22x | 100% |
| May 2026 | $82.5M | Current | No | 2.22x | 100% |
| April 2026 | $82.5M | Current | No | 2.15x | 100% |
| March 2026 | $82.5M | Current | No | 2.15x | 100% |
| February 2026 | $82.5M | Current | No | 2.15x | 100% |
| January 2026 | $82.5M | Current | No | 2.15x | 100% |
| December 2025 | $82.5M | Current | No | 2.15x | 100% |
| November 2025 | $82.5M | Current | No | 2.15x | 100% |
| October 2025 | $82.5M | Current | No | 2.14x | 100% |
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 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2024-V6 Mortgage Trust | 8 | $50,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BMO 2024-5C4 Mortgage Trust | 17 | $23,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2024-5C5 Mortgage Trust | 34 | $9,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Lexington-Fayette loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Hamburg Pavilion | Lexington, KY | Retail | $94.5M | 6.84% | Nov 2029 | 1.98x | 94% | Current |
| Aaa Bypass Storage | Georgetown, KY | Self storage | $4.2M | 5.27% | Jan 2029 | 2.84x | 91% | 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.