Other · Minneapolis, Minnesota
The 511 Building
511 11th Avenue South, Minneapolis, MN · Google Maps
The 511 Building is financed with a $50.0M CMBS loan at 5.68% that reaches maturity on August 5, 2031, in 4 years and 9 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $50,000,000
- Original balance (same notes)
- $50,000,000
- Interest rate
- 5.68% fixed
- Originated
- August 5, 2026
- Maturity
- August 5, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 4, 2028
- Prepayment premium ends
- March 4, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- JPMorgan Chase Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 511 11th Avenue South, Minneapolis, MN 55415
- Metro
- Minneapolis-St. Paul-Bloomington, MN-WI
- Rentable area
- 286,488 sq ft
- Built
- 1981, renovated 2004
- Largest tenants
- COLOGIX; ZAYO; VERIZON
- Value at securitization
- $255.0M (Jun 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 4.23x | n/a |
| Occupancy | 66% | n/a |
| Net operating income | $12.2M | n/a |
Comparable loans: other properties in Minneapolis-St. Paul-Bloomington, MN-WI, with NOI, occupancy and value.
Watch flags
Computed from the BANK5 2026-5YR24 filing for the reporting period ending October 13, 2026, filed with the SEC October 30, 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
- The filing gives Aug 2029 as the lease end date for the largest tenant (COLOGIX), before the loan matures. Lenders look hard at that rollover.
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 Aug 2026.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $18.6M | n/a | |
| Operating expenses | $6.4M | n/a | |
| Net operating income | $12.2M | n/a | |
| Net cash flow | $12.1M | n/a | |
| Expense ratio | 34.4% | n/a |
From the servicer's Schedule AL report; 286,488 sq ft; renovated 2004.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| COLOGIX | 87,118 | 30% | Aug 2029 |
| ZAYO | 32,997 | 12% | Jul 2030 |
| VERIZON | 21,965 | 8% | Apr 2027 |
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 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $50.0M | Current | No | n/a | n/a |
| September 2026 | $50.0M | Current | No | n/a | n/a |
| August 2026 | $50.0M | Current | No | 4.27x | 66% |
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 2026-5YR24 | 4 | $50,000,000 | Oct 2026 | SEC filing, October 30, 2026 |
Other Minneapolis-St. Paul-Bloomington loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 10 West End | St. Louis Park, MN | Office | $78.0M | 6.75% | Jul 2031 | 1.77x | 96% | Current |
| U-Haul Moving & Storage at Coon Rapids and 8 other properties | Coon Rapids, MN | Self storage | $31.8M | 2.59% | Jul 2031 | n/a | n/a | Current |
| Berkshire Corporate Center | Plymouth, MN | Industrial | $25.6M | 3.559% | May 2031 | 3.23x | 86% | Not reported |
| Mills Fleet Farm Brooklyn Ranch | Brooklyn Park, MN | Retail | $23.0M | 3.71% | Nov 2031 | 3.06x | 100% | Not reported |
| Midline Apartments | Saint Paul, MN | Multifamily | $20.2M | 5.948% | Apr 2031 | 1.10x | 86% | Current |
| Luna Apartments | Minneapolis, MN | Multifamily | $14.0M | 3.91% | Jan 2031 | 1.73x | 94% | Current |
| Mills Fleet Farm Carver | Carver, MN | Retail | $13.9M | 3.88% | Dec 2031 | 3.01x | 100% | Not reported |
| Nox Apartments | Minneapolis, MN | Multifamily | $13.2M | 5.721% | Jun 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Minneapolis-St. Paul-Bloomington 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.