Retail · Williston, Vermont
Taft Corner Shopping Center
Taft Corner Shopping Center is financed with a $12.8M CMBS loan at 6.46% that reaches maturity on March 6, 2031, in 4 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,750,000
- Original balance (same notes)
- $12,750,000
- Interest rate
- 6.46% fixed
- Originated
- February 12, 2026
- Maturity
- March 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently April 6, 2026
- Defeasance
- None reported
The property
- Address
- 18 Taft Corners Shopping Center, Williston, VT 05495
- Rentable area
- 72,412 sq ft
- Built
- 1974
- Largest tenants
- Plato's Closet; Ninety-Nine Restaurant & Pub; Once Upon a Child
- Value at securitization
- $19.0M (Oct 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.86x | 0.87x |
| Occupancy | 91% | 95% |
| Net operating income (annualized from 6 months) | $1.6M | $1.5M |
| Debt yield | 11.6% |
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 BMO 2026-5C14 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Modified
On the cmbs.news watch list in every report since September 2026.
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 risen from 91% when the loan was securitized to 95%.
- Net operating income is 5% below the underwritten figure ($1.5M a year against $1.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.86x at securitization to 0.87x on the latest statements.
- At 0.87x, the property's reported NOI does not cover its debt service.
- The filing gives Sep 2026 as the lease end date for the largest tenant (Plato's Closet), before the loan matures. Lenders look hard at that rollover.
The last 7 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.8M | Current | No | 0.87x | 95% |
| August 2026 | $12.8M | Current | No | n/a | n/a |
| July 2026 | $12.8M | Current | No | n/a | n/a |
| June 2026 | $12.8M | Current | No | n/a | n/a |
| May 2026 | $12.8M | Current | No | n/a | n/a |
| April 2026 | $12.8M | Current | No | n/a | n/a |
| March 2026 | $12.8M | Payment not received but still in grace period or not yet due | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2026-5C14 Mortgage Trust | 25 | $12,750,000 | Sep 2026 | SEC filing, October 2, 2026 |
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.