Retail · North Charleston, South Carolina
Montague Corners
Montague Corners is financed with a $13.1M CMBS loan at 7.29% that reaches maturity on July 6, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $13,125,000
- Original balance (same notes)
- $13,125,000
- Interest rate
- 7.29% fixed
- Originated
- June 17, 2024
- Maturity
- July 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- July 5, 2026
- Prepayment premium ends
- January 5, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- LMF Commercial, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 5040-5060 Dorchester Road, North Charleston, SC 29418
- Metro
- Charleston-North Charleston, SC
- Rentable area
- 106,518 sq ft
- Built
- 1971, renovated 2023
- Largest tenants
- Planet Fitness; Save-A-Lot; Harbor Freight Tools USA
- Value at securitization
- $18.8M (May 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.48x | 1.46x |
| Occupancy | 95% | 90% |
| Net operating income (annualized from 6 months) | $1.4M | $2.9M |
| Debt yield | 21.8% |
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.
- Largest tenant's lease ends within 12 months
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 95% when the loan was securitized to 90%.
- Net operating income is 99% above the underwritten figure ($2.9M a year against $1.4M; the latest statement covers 6 months, annualized).
- The filing gives Mar 2027 as the lease end date for the largest tenant (Planet Fitness), 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 | $13.1M | Current | No | 1.46x | 90% |
| August 2026 | $13.1M | Current | No | 1.68x | 90% |
| July 2026 | $13.1M | Current | No | 1.68x | 90% |
| June 2026 | $13.1M | Current | No | n/a | n/a |
| May 2026 | $13.1M | Current | No | n/a | n/a |
| April 2026 | $13.1M | Current | No | 1.12x | 87% |
| March 2026 | $13.1M | Current | No | 1.12x | 87% |
| February 2026 | $13.1M | Current | No | 1.12x | 87% |
| January 2026 | $13.1M | Current | No | 1.12x | 87% |
| December 2025 | $13.1M | Current | No | 1.12x | 87% |
| November 2025 | $13.1M | Current | No | 1.23x | n/a |
| October 2025 | $13.1M | Current | No | 1.23x | 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 |
|---|---|---|---|---|
| BMO 2024-5C5 Mortgage Trust | 29 | $13,125,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Charleston-North Charleston loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 8571 Rivers Ave | North Charleston, SC | Office | $21.3M | 4.05% | Nov 2029 | n/a | n/a | Current |
| Oakbrook Station | Summerville, SC | Retail | $18.6M | 6.60% | Jan 2029 | 1.21x | 100% | Current |
| Tru by Hilton Mount Pleasant | Mt Pleasant, SC | Hotel | $13.1M | 7.13% | Aug 2029 | 2.49x | 76% | Current |
| North Charleston Center | North Charleston, SC | Retail | $12.2M | 4.98% | Mar 2029 | 2.49x | 97% | Current |
| Springhill Suites Charleston | North Charleston, SC | Hotel | $12.1M | 7.13% | Aug 2029 | 2.53x | 82% | Current |
| Chef's Store Charleston | Charleston, SC | Retail | $8.9M | 4.47% | Aug 2029 | 2.38x | 100% | Current |
| 349 Coleman Boulevard | Mount Pleasant, SC | Retail | $8.8M | 4.00% | Dec 2029 | 2.61x | 100% | Current |
| Bell MHC | Summerville, SC | Manufactured housing | $5.0M | 6.57% | Aug 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Charleston-North Charleston 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.