Retail · Clearwater Beach, Florida
Pelican Walk Plaza
483 Mandalay Avenue, Clearwater Beach, FL · Google Maps
Pelican Walk Plaza is financed with a $15.4M CMBS loan at 7.563% that reaches maturity on August 1, 2031, in 4 years and 9 months. As of the Oct 2026 servicer report its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $15,400,000
- Original balance (same notes)
- $15,400,000
- Interest rate
- 7.563% fixed
- Originated
- July 31, 2026
- Maturity
- August 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 31, 2028
- Prepayment premium ends
- January 31, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Bank of America, N.A.
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 483 Mandalay Avenue, Clearwater Beach, FL 33767
- Metro
- Tampa-St. Petersburg-Clearwater, FL
- Rentable area
- 38,713 sq ft
- Built
- 1994, renovated 2018
- Largest tenants
- HURRICANE EDDIE’S; TK ARCADE; SEXTON’S PIZZA
- Value at securitization
- $25.9M (Jul 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.36x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.6M | n/a |
Comparable loans: retail properties in Tampa-St. Petersburg-Clearwater, FL, with NOI, occupancy and value.
Watch flags
Computed from the BANK5 2026-5YR24 filing for the reporting period ending October 13, 2026, filed with the SEC October 30, 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
- The filing gives Aug 2029 as the lease end date for the largest tenant (HURRICANE EDDIE’S), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Non-recourse carveout guarantor
- Shown with Pro
- Sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Aug 2026.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Servicer advances
- P&I advances outstanding
- $96,994
From the trust's monthly trustee report. Advances are payments the servicer has fronted to bondholders on the borrower's behalf, repaid before bondholders when the loan resolves.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $2.4M | n/a | |
| Operating expenses | $790K | n/a | |
| Net operating income | $1.6M | n/a | |
| Net cash flow | $1.6M | n/a | |
| Expense ratio | 33.0% | n/a |
From the servicer's Schedule AL report; 38,713 sq ft; renovated 2018.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| HURRICANE EDDIE’S | 6,300 | 16% | Aug 2029 |
| TK ARCADE | 5,283 | 14% | May 2031 |
| SEXTON’S PIZZA | 4,200 | 11% | May 2036 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $15.4M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| September 2026 | $15.4M | Current | No | n/a | n/a |
| August 2026 | $15.4M | Current | No | 1.03x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2026-5YR24 | 20 | $15,400,000 | Oct 2026 | SEC filing, October 30, 2026 |
Other Tampa-St. Petersburg-Clearwater loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Renaissance Center Park | Tampa, FL | Office | $97.0M | 6.615% | Feb 2031 | n/a | n/a | Current |
| Bahia Apartments and 2 other properties | Tampa, FL | Multifamily | $48.0M | 3.97% | Dec 2031 | n/a | n/a | Current |
| Marriott Tampa Westshore | Tampa, FL | Hotel | $46.3M | 6.613% | Jun 2031 | 2.03x | 67% | Current |
| First Central Tower | St. Petersburg, FL | Office | $45.0M | 3.42% | Feb 2031 | 3.59x | 91% | Current |
| Ubc (I Ii&iv) and 6 other properties | Tampa, FL | Office | $39.8M | 6.65% | Mar 2031 | n/a | n/a | Not reported |
| Innovo at Waters | Tampa, FL | Multifamily | $35.3M | 5.96% | Apr 2031 | n/a | n/a | Current |
| Morgan Stanley Tower | St. Petersburg, FL | Office | $32.3M | 3.50% | Mar 2031 | n/a | n/a | Current |
| Lofts at River Edge | Tampa, FL | Multifamily | $22.0M | 7.11% | Feb 2031 | n/a | 99% | Late, less than 30 days |
All loans maturing in 2031 · All Tampa-St. Petersburg-Clearwater loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.