Multifamily · Tucson, Arizona
Sycamore Cove
Sycamore Cove is financed with a $4.2M CMBS loan at 6.80% that reaches maturity on January 1, 2029, in 2 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
- $4,200,000
- Original balance (same notes)
- $4,200,000
- Interest rate
- 6.80% fixed
- Originated
- December 15, 2023
- Maturity
- January 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2024
- Prepayment premium ends
- June 30, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2456, 2458 and 2462 North Sycamore Boulevard, Tucson, AZ 85712
- Metro
- Tucson, AZ
- Units, rooms or beds
- 67
- Built
- 1979, renovated 2023
- Value at securitization
- $6.1M (Nov 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.34x | 1.25x |
| Occupancy | 91% | 88% |
| Net operating income (annualized from 6 months) | $388K | $363K |
| Debt yield | 8.6% |
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 2024-5YR5 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
- Occupancy has fallen from 91% when the loan was securitized to 88%.
- Net operating income is 7% below the underwritten figure ($363K a year against $388K; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.2M | Current | No | 1.25x | 88% |
| August 2026 | $4.2M | Current | No | 1.25x | 88% |
| July 2026 | $4.2M | Current | No | 1.34x | 94% |
| June 2026 | $4.2M | Current | No | 1.41x | 94% |
| May 2026 | $4.2M | Current | No | 1.41x | 94% |
| April 2026 | $4.2M | Current | No | 1.41x | 94% |
| March 2026 | $4.2M | Current | No | 1.41x | 94% |
| February 2026 | $4.2M | Current | No | 1.41x | 94% |
| January 2026 | $4.2M | Current | No | 1.47x | 94% |
| December 2025 | $4.2M | Current | No | 1.47x | 94% |
| November 2025 | $4.2M | Current | No | 1.52x | 96% |
| October 2025 | $4.2M | Current | No | 1.47x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2024-5YR5 | 22 | $4,200,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Tucson loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| El Con Center | Tucson, AZ | Retail | $63.0M | 4.82% | May 2029 | 2.46x | 55% | Current |
| AC Marriott Downtown Tucson | Tucson, AZ | Hotel | $37.3M | 5.38% | Jan 2029 | 1.48x | 73% | Current |
| Oro Valley Marketplace | Oro Valley, AZ | Retail | $32.7M | 3.93% | Oct 2029 | 1.46x | 87% | Current |
| Oracle Crossings | Oro Valley, AZ | Retail | $27.4M | 4.88% | Jan 2029 | 1.76x | 96% | Current |
| Comcast Tucson | Tucson, AZ | Office | $19.6M | 4.85% | Jun 2029 | n/a | n/a | With the special servicer and 30-59 days delinquent |
| 333 E Wetmore Road | Tuscon, AZ | Office | $16.0M | 3.49% | Dec 2029 | 1.77x | 65% | Current |
| Irvington Plaza | Tucson, AZ | Retail | $5.7M | 4.35% | Jun 2029 | 2.42x | 96% | Current |
| Carousel Ranch Mhc | Tucson, AZ | Manufactured housing | $4.3M | 6.017% | Oct 2029 | 2.01x | 85% | 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.