Retail · Eagan, Minnesota
Twin Cities Premium Outlets
Public CMBS trusts hold $95.0M of the loan on Twin Cities Premium Outlets at 6.696% that reaches maturity on November 1, 2034, in 8 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $95,000,000
- Original balance (same notes)
- $95,000,000
- Interest rate
- 6.696% fixed
- Originated
- October 17, 2024
- Maturity
- November 1, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 30, 2034
- Master servicer
- Midland Loan Services
- Originator
- Natixis Real Estate Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3965 Eagan Outlets Parkway, Eagan, MN 55122
- Metro
- Minneapolis-St. Paul-Bloomington, MN-WI
- Rentable area
- 401,441 sq ft
- Built
- 2014
- Largest tenants
- Nike Factory Store; Polo Ralph Lauren; Old Navy
- Value at securitization
- $202.0M (Sep 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.11x | 2.28x |
| Occupancy | 89% | 84% |
| Net operating income | $13.6M | $14.7M |
| Debt yield | 15.5% |
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 2025-C11 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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
- Occupancy has fallen from 89% when the loan was securitized to 84%.
- Net operating income is 8% above the underwritten figure ($14.7M a year against $13.6M).
- Debt service coverage moved from 2.11x at securitization to 2.28x on the latest statements.
- The filing gives Aug 2029 as the lease end date for the largest tenant (Nike Factory Store), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $95.0M | Current | No | 2.28x | 84% |
| August 2026 | $95.0M | Current | No | 2.28x | 89% |
| July 2026 | $95.0M | Current | No | 2.28x | 89% |
| June 2026 | $95.0M | Current | No | 2.13x | 91% |
| May 2026 | $95.0M | Current | No | 2.13x | 91% |
| April 2026 | $95.0M | Current | No | 2.13x | 91% |
| March 2026 | $95.0M | Current | No | 2.13x | 91% |
| February 2026 | $95.0M | Current | No | 2.13x | 91% |
| January 2026 | $95.0M | Current | No | 2.13x | 91% |
| December 2025 | $95.0M | Current | No | 2.13x | 91% |
| November 2025 | $95.0M | Current | No | 2.11x | 88% |
| October 2025 | $95.0M | Current | No | 2.11x | 88% |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-C30 | 3 | $61,750,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2025-C64 | 19 | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2025-C11 Mortgage Trust | 23 | $13,250,000 | 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.