Manufactured housing · Flagler Beach, Florida
Treasure by the Sea
Treasure by the Sea is financed with a $6.0M CMBS loan at 6.747% that reaches maturity on June 6, 2031, in 4 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,000,000
- Original balance (same notes)
- $6,000,000
- Interest rate
- 6.747% fixed
- Originated
- June 3, 2026
- Maturity
- June 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Prepayment premium ends
- February 5, 2031 (yield maintenance)
- Master servicer
- Midland
- Originator
- German American Capital Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2982 & 2975 N. Ocean Shore Blvd., Flagler Beach, FL 32136
- Metro
- Deltona-Daytona Beach-Ormond Beach, FL
- Units, rooms or beds
- 43
- Built
- 1985
- Value at securitization
- $9.3M (Apr 2026)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.41x | n/a |
| Occupancy | 93% | n/a |
| Net operating income | $581K | n/a |
Watch flags
Computed from the Benchmark 2026-V23 Mortgage Trust 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.
The last 2 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.0M | Current | No | n/a | n/a |
| August 2026 | $6.0M | Current | 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 |
|---|---|---|---|---|
| Benchmark 2026-V23 Mortgage Trust | 28 | $6,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Deltona-Daytona Beach-Ormond Beach loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Icon One Daytona | Daytona Beach, FL | Multifamily | $50.0M | 3.77% | Sep 2031 | n/a | n/a | Current |
| Walmart Deland | Deland, FL | Other | $6.0M | 4.01% | Jun 2031 | 1.86x | 100% | Current |
| Town and Country | Bunnell, FL | Self storage | $3.3M | 4.424% | Dec 2031 | 1.92x | 100% | Current |
| Daytona Beach MHC | Daytona Beach, FL | Manufactured housing | $3.3M | 6.08% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Deltona-Daytona Beach-Ormond Beach 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.