Manufactured housing portfolio, 35 properties · Multiple locations
Southeast Workforce MHC Portfolio
Public CMBS trusts hold $105.0M of the loan on this portfolio at 5.658% that reaches maturity on April 11, 2030, in 3 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $105,000,000
- Original balance (same notes)
- $105,000,000
- Interest rate
- 5.658% fixed
- Originated
- March 18, 2025
- Maturity
- April 11, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ended
- July 10, 2025
- Prepayment premium ends
- October 10, 2029 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- WFB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 1,919
- Value at securitization
- $157.9M (Feb 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.55x | 1.64x |
| Occupancy | 86% | 85% |
| Net operating income (annualized from 6 months) | $9.3M | $9.9M |
| Debt yield | 9.4% |
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 Wells Fargo Commercial Mortgage Trust 2025-5C4 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.
What the filing shows
- Net operating income is 6% above the underwritten figure ($9.9M a year against $9.3M; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $105.0M | Current | No | 1.64x | 85% |
| August 2026 | $105.0M | Current | No | 1.64x | 85% |
| July 2026 | $105.0M | Current | No | 1.57x | 86% |
| June 2026 | $105.0M | Current | No | 1.57x | 86% |
| May 2026 | $105.0M | Current | No | 1.57x | 86% |
| April 2026 | $105.0M | Current | No | 1.60x | 91% |
| March 2026 | $105.0M | Current | No | 1.60x | 91% |
| February 2026 | $105.0M | Current | No | 1.60x | 91% |
| January 2026 | $105.0M | Current | No | n/a | n/a |
| December 2025 | $105.0M | Current | No | n/a | n/a |
| November 2025 | $105.0M | Current | No | n/a | n/a |
| October 2025 | $105.0M | 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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2025-5YR14 | 1 | $88,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2025-5C4 | 15 | $17,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other manufactured housing loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Silverstone | Indianapolis, IN | Manufactured housing | $61.5M | 7.019% | Jan 2030 | n/a | n/a | Current |
| Badger Portfolio | WI | Manufactured housing | $60.4M | 6.033% | Dec 2030 | 1.39x | 91% | Current |
| Ross RV Park Portfolio | Manufactured housing | $48.0M | 7.60% | Apr 2030 | 1.52x | 100% | Current | |
| Pine Hill and Pine Manor | Tifton, GA | Manufactured housing | $36.0M | 6.50% | Sep 2030 | n/a | n/a | Current |
| Fitts MHC Portfolio | TX | Manufactured housing | $26.1M | 6.03% | Nov 2030 | n/a | n/a | Current |
| Oasis Palms Estates | San Bernardino, CA | Manufactured housing | $24.4M | 7.06% | Jun 2030 | n/a | n/a | Current |
| Clear Trail 3-Pack | Manufactured housing | $23.5M | 6.35% | May 2030 | 1.56x | 76% | Current | |
| Westlake RV Resort | Houston, TX | Manufactured housing | $23.5M | 6.81% | Sep 2030 | n/a | n/a | Current |
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.