Office · Miami, Florida
Museum Tower
Public CMBS trusts hold $47.0M of the loan on Museum Tower at 6.546% that reaches maturity on May 6, 2028, in 18 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $47,000,000
- Original balance (same notes)
- $64,000,000
- Interest rate
- 6.546% fixed
- Originated
- April 17, 2023
- Maturity
- May 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2027
- Master servicer
- Trimont LLC
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 150 West Flagler Street, Miami, FL 33130
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 241,192 sq ft
- Built
- 1983
- Largest tenants
- Stearns Weaver Miller Weissler Alhadeff & Sitt; Mana Miami Management LLC; Federal Public Defenders (GSA)
- Value at securitization
- $76.0M (Feb 2023)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.79x | 1.66x |
| Occupancy | 92% | 91% |
| Net operating income | $5.6M | $5.2M |
| Debt yield | 11.0% |
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 2023-5C1 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
- Net operating income is 7% below the underwritten figure ($5.2M a year against $5.6M).
- Debt service coverage moved from 1.79x at securitization to 1.66x on the latest statements.
- The filing gives Sep 2027 as the lease end date for the largest tenant (Stearns Weaver Miller Weissler Alhadeff & Sitt), 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 | $47.0M | Current | No | 1.66x | 91% |
| August 2026 | $47.0M | Late payment but less than 30 days delinquent | No | 1.66x | 91% |
| July 2026 | $47.0M | Late payment but less than 30 days delinquent | No | 1.66x | 91% |
| June 2026 | $47.0M | Current | No | 1.66x | 91% |
| May 2026 | $47.0M | Current | No | 1.66x | 91% |
| April 2026 | $47.0M | Current | No | 1.64x | 91% |
| March 2026 | $47.0M | Current | No | 1.64x | 91% |
| February 2026 | $47.0M | Current | No | 1.64x | 91% |
| January 2026 | $47.0M | Current | No | 1.64x | 91% |
| December 2025 | $47.0M | Current | No | 1.62x | 90% |
| November 2025 | $47.0M | Current | No | 1.62x | 90% |
| October 2025 | $47.0M | Current | No | 1.62x | 90% |
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 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-1 | 10 | $20,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| MSWF Commercial Mortgage Trust 2023-1 | 10A | $10,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2023-5C1 Mortgage Trust | 18A-3 | $10,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2023-5C1 Mortgage Trust | 18A-4 | $7,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aventura Mall | Aventura, FL | Retail | $900.0M | 4.121% | Jul 2028 | n/a | n/a | Current |
| Town Center Aventura | Aventura, FL | Retail | $80.0M | 4.89% | Jul 2028 | 1.71x | 90% | Current |
| Miami Industrial Portfolio | Miami, FL | Industrial | $66.1M | 4.981% | Dec 2028 | 3.32x | 87% | Current |
| Promenade Shops at Aventura | Aventura, FL | Retail | $59.2M | 4.669% | Feb 2028 | 1.47x | 99% | Current |
| AutoNation | Fort Lauderdale, FL | Office | $55.0M | 8.25% | Dec 2028 | n/a | n/a | Current |
| Palm Glade Apartments | Belle Glade, FL | Multifamily | $45.0M | 6.685% | Jan 2028 | 1.84x | 98% | Current |
| Causeway Square | North Miami, FL | Mixed use | $43.2M | 5.265% | Nov 2028 | 1.66x | 95% | Current |
| Clevelander South Branch | Miami Beach, FL | Hotel | $41.0M | 5.97% | Oct 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Miami-Fort Lauderdale-West Palm Beach 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.