Industrial · Grand Rapids, Michigan
Tesla GR
5460 Executive Parkway, Grand Rapids, MI · Google Maps
Tesla GR is financed with a $10.3M CMBS loan at 5.608% that reaches maturity on November 1, 2030, in 4 years. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $10,300,000
- Original balance (same notes)
- $10,300,000
- Interest rate
- 5.608% fixed
- Originated
- October 14, 2025
- Maturity
- November 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- May 31, 2030
- Master servicer
- Trimont LLC
- Originator
- JPMorgan Chase Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5460 Executive Parkway, Grand Rapids, MI 49512
- Metro
- Grand Rapids-Wyoming-Kentwood, MI
- Rentable area
- 176,606 sq ft
- Built
- 1989, renovated 2015
- Largest tenants
- TESLA
- Value at securitization
- $19.2M (Sep 2025)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 2.07x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.2M | n/a |
Comparable loans: industrial properties in Grand Rapids-Wyoming-Kentwood, MI, with NOI, occupancy and value.
Watch flags
Computed from the BANK5 2025-5YR18 filing for the reporting period ending October 13, 2026, filed with the SEC October 27, 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.
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 Nov 2025.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $1.6M | n/a | |
| Operating expenses | $425K | n/a | |
| Net operating income | $1.2M | n/a | |
| Net cash flow | $1.2M | n/a | |
| Expense ratio | 25.9% | n/a |
From the servicer's Schedule AL report; 176,606 sq ft; renovated 2015.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| TESLA | 176,606 | 100% | May 2035 |
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 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $10.3M | Current | No | n/a | n/a |
| September 2026 | $10.3M | Current | No | n/a | n/a |
| August 2026 | $10.3M | Current | No | n/a | n/a |
| July 2026 | $10.3M | Current | No | n/a | n/a |
| June 2026 | $10.3M | Current | No | n/a | n/a |
| May 2026 | $10.3M | Current | No | n/a | n/a |
| April 2026 | $10.3M | Current | No | n/a | n/a |
| March 2026 | $10.3M | Current | No | n/a | n/a |
| February 2026 | $10.3M | Current | No | n/a | n/a |
| January 2026 | $10.3M | Current | No | n/a | n/a |
| December 2025 | $10.3M | Current | No | n/a | 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 2025-5YR18 | 22 | $10,300,000 | Oct 2026 | SEC filing, October 27, 2026 |
Other Grand Rapids-Wyoming-Kentwood loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Staybridge Suites Grand Rapids | Grand Rapids, MI | Hotel | $7.8M | 4.29% | Jan 2030 | 1.13x | 72% | Current |
| Cedar Springs Mobile Estates | Cedar Springs, MI | Manufactured housing | $7.5M | 6.028% | Mar 2030 | 1.92x | 100% | Current |
All loans maturing in 2030 · All Grand Rapids-Wyoming-Kentwood 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.