Office · West Palm Beach, Florida
Northbridge Centre
Public CMBS trusts hold $96.0M of the loan on Northbridge Centre at 6.905% that reaches maturity on September 6, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $96,000,000
- Original balance (same notes)
- $96,000,000
- Interest rate
- 6.905% fixed
- Originated
- August 9, 2024
- Maturity
- September 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- October 5, 2026
- Prepayment premium ends
- March 5, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 515 Flagler Drive 517 N. Olive Avenue, West Palm Beach, FL 33401
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 294,493 sq ft
- Built
- 1985, renovated 2018
- Largest tenants
- Quest Workspaces 515 N. Flagler LLC; Wicker Smith O'Hara McCoy & Ford P.A.; Focus Financial Partners, LLC
- Value at securitization
- $158.4M (Jul 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.61x | 1.43x |
| Occupancy | 86% | 75% |
| Net operating income | $10.8M | $9.6M |
| Debt yield | 10.0% |
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 2024-5C8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Occupancy down 10 points or more from securitization
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 86% when the loan was securitized to 75%.
- Net operating income is 11% below the underwritten figure ($9.6M a year against $10.8M).
- Debt service coverage moved from 1.61x at securitization to 1.43x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $96.0M | Current | No | 1.43x | 75% |
| August 2026 | $96.0M | Current | No | 1.41x | 82% |
| July 2026 | $96.0M | Current | No | 1.41x | 82% |
| June 2026 | $96.0M | Current | No | 1.41x | 82% |
| May 2026 | $96.0M | Current | No | 1.25x | 82% |
| April 2026 | $96.0M | Current | No | 1.41x | 82% |
| March 2026 | $96.0M | Late payment but less than 30 days delinquent | No | 1.34x | 80% |
| February 2026 | $96.0M | Current | No | 1.34x | 80% |
| January 2026 | $96.0M | Current | No | 1.34x | 80% |
| December 2025 | $96.0M | Current | No | 1.34x | 80% |
| November 2025 | $96.0M | Late payment but less than 30 days delinquent | No | 1.34x | 83% |
| October 2025 | $96.0M | 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
The loan is split into 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2024-5C6 Mortgage Trust | 4 | $53,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BBCMS Mortgage Trust 2024-5C29 | 10A-2 | $30,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2024-5C7 Mortgage Trust | 28 | $8,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2024-5C8 Mortgage Trust | 36 | $5,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Royal Palm Place | Boca Raton, FL | Mixed use | $110.0M | 3.81% | Nov 2029 | 2.98x | 98% | Current |
| University Pointe | Davie, FL | Multifamily | $85.8M | 6.70% | Jun 2029 | 1.79x | 90% | Current |
| Royal Palm I & II | Plantation, FL | Office | $68.2M | 6.45% | Nov 2029 | 7.80x | 82% | Current |
| The Avenue | Davie, FL | Multifamily | $60.0M | 4.992% | Jan 2029 | 2.47x | 96% | Current |
| The Brazilian Court Hotel | Palm Beach, FL | Hotel | $54.5M | 7.50% | Dec 2029 | 1.57x | 52% | Current |
| One Town Center | Boca Raton, FL | Office | $51.0M | 7.338% | Jul 2029 | 1.19x | 94% | Current |
| West Palm Gardens | West Palm Beach, FL | Multifamily | $50.0M | 6.45% | Oct 2029 | n/a | n/a | Current |
| One Park Square | Doral, FL | Office | $47.6M | 6.15% | Oct 2029 | n/a | n/a | Current |
All loans maturing in 2029 · 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.