Retail · Peabody, Massachusetts
Northshore Mall
Public CMBS trusts hold $175.0M of the loan on Northshore Mall at 6.355% that reaches maturity on January 1, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $175,000,000
- Original balance (same notes)
- $175,000,000
- Interest rate
- 6.355% fixed
- Originated
- December 18, 2025
- Maturity
- January 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 30, 2030
- Master servicer
- Midland Loan Services
- Originator
- German American Capital Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 210 Andover Street, Peabody, MA 01960
- Metro
- Boston-Cambridge-Newton, MA-NH
- Rentable area
- 1,603,756 sq ft
- Built
- 1958, renovated 1978
- Largest tenants
- Macy's; J.C. Penny Co; Dick's House of Sport
- Value at securitization
- $294.0M (Nov 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.42x | 2.36x |
| Occupancy | 96% | 93% |
| Net operating income (annualized from 3 months) | $27.3M | $28.6M |
| Debt yield | 16.3% |
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 BANK5 2026-5YR20 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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.
The last 8 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $175.0M | Current | No | 2.36x | 93% |
| August 2026 | $175.0M | Current | No | 2.36x | 93% |
| July 2026 | $175.0M | Current | No | 2.36x | 93% |
| June 2026 | $175.0M | Current | No | n/a | n/a |
| May 2026 | $175.0M | Current | No | n/a | n/a |
| April 2026 | $175.0M | Current | No | n/a | n/a |
| March 2026 | $175.0M | Current | No | 2.36x | 96% |
| February 2026 | $143.0M | Current | No | 2.36x | 96% |
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 6 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-V20 Mortgage Trust | 3 | $75,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK5 2026-5YR20 | 9 | $38,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2026-5C40 | 7 | $28,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2026-5C14 Mortgage Trust | 12 | $22,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Wells Fargo Commercial Mortgage Trust 2026-5C8 | 23 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK5 2026-5YR20 | 9A | $2,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Boston-Cambridge-Newton loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 350 and 450 Water Street | Cambridge, MA | Mixed use | $421.0M | 2.792% | Nov 2031 | n/a | n/a | Current |
| One Memorial Drive | Cambridge, MA | Office | $158.2M | 2.692% | Oct 2031 | 0.92x | 42% | Current |
| Cx - 350 & 450 Water Street, Cambridge (2031 maturity), loan 3 in BANK 2021-BNK38 | Cambridge, MA | Mixed use | $55.0M | 2.792% | Nov 2031 | 3.48x | 100% | Current |
| Cx - 350 & 450 Water Street, Cambridge (2031 maturity), loan 7 in BANK 2022-BNK39 | Cambridge, MA | Mixed use | $53.0M | 2.792% | Nov 2031 | 3.48x | 100% | Current |
| One Washington | Boston, MA | Office | $38.0M | 7.389% | Jun 2031 | n/a | n/a | Current |
| PGA Tour Superstore | Braintree, MA | Retail | $16.2M | 3.94% | Nov 2031 | n/a | n/a | Current |
| Extra Space Storage MA | Malden, MA | Self storage | $15.7M | 6.46% | Jul 2031 | n/a | n/a | Current |
| 298-300 Meridian Street | Boston, MA | Multifamily | $14.4M | 4.762% | Apr 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Boston-Cambridge-Newton 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.