Retail · Tacoma, Washington
Tahoma Vista
Tahoma Vista is financed with a $11.1M CMBS loan at 7.45% that reaches maturity on April 1, 2029, in 2 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $11,050,000
- Original balance (same notes)
- $11,050,000
- Interest rate
- 7.45% fixed
- Originated
- April 1, 2024
- Maturity
- April 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 31, 2026
- Prepayment premium ends
- December 31, 2028 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Morgan Stanley Bank, 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
- 1410-1418 East 72nd Street, Tacoma, WA 98404
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 107,293 sq ft
- Built
- 1968
- Largest tenants
- Urban Air; GROCERY OUTLET; BIG FOOT JAVA/BIG FOOT PROPERTIES XXII LLC
- Value at securitization
- $17.6M (Feb 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.46x | 0.45x |
| Occupancy | 100% | 61% |
| Net operating income | $1.2M | $379K |
| Debt yield | 3.4% |
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 BANK5 Trust 2024-5YR6 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to 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 fallen from 100% when the loan was securitized to 61%.
- Net operating income is 69% below the underwritten figure ($379K a year against $1.2M).
- Debt service coverage moved from 1.46x at securitization to 0.45x on the latest statements.
- At 0.45x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.1M | Late payment but less than 30 days delinquent | No | 0.45x | 61% |
| August 2026 | $11.1M | Late payment but less than 30 days delinquent | No | 0.45x | 61% |
| July 2026 | $11.1M | Current | No | 0.45x | 61% |
| June 2026 | $11.1M | Current | No | 0.45x | 61% |
| May 2026 | $11.1M | Current | No | 0.45x | 61% |
| April 2026 | $11.1M | Current | No | 0.45x | 61% |
| March 2026 | $11.1M | Current | No | 0.45x | 61% |
| February 2026 | $11.1M | Current | No | 0.59x | n/a |
| January 2026 | $11.1M | Current | No | 0.59x | n/a |
| December 2025 | $11.1M | Current | No | 0.59x | n/a |
| November 2025 | $11.1M | Current | No | 0.59x | n/a |
| October 2025 | $11.1M | Current | No | 0.59x | 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 |
|---|---|---|---|---|
| BANK5 Trust 2024-5YR6 | 23 | $11,050,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Newport Corporate Center | Bellevue, WA | Office | $164.0M | 3.543% | May 2029 | 5.70x | 100% | Current |
| Summit 1, 2, 3 | Bellevue, WA | Office | $155.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
| Sunset North | Bellevue, WA | Office | $150.0M | 3.25% | Oct 2029 | 1.96x | 66% | Current |
| 4th & Battery | Seattle, WA | Office | $135.0M | 4.378% | Jun 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Millennium Corporate Park | Redmond, WA | Office | $131.0M | 3.032% | Jan 2029 | 3.62x | 89% | Current |
| 90 North Campus | Bellevue, WA | Office | $80.0M | 3.732% | Dec 2029 | 2.97x | 100% | Current |
| University Village, Seattle | Seattle, WA | Retail | $75.0M | 3.30% | Dec 2029 | 2.52x | 95% | Current |
| The Summit, Bellevue | Bellevue, WA | Office | $65.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Seattle-Tacoma-Bellevue 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.