Retail · Portland, Oregon
Washington Square
Public CMBS trusts hold $315.5M of the loan on Washington Square at 5.577% that reaches maturity on April 6, 2035, in 8 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $315,500,000
- Original balance (same notes)
- $315,500,000
- Interest rate
- 5.577% fixed
- Originated
- March 27, 2025
- Maturity
- April 6, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2027
- Prepayment premium ends
- October 5, 2034 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 9585 Southwest Washington Square Road, Portland, OR 97223
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Rentable area
- 994,568 sq ft
- Built
- 1974, renovated 2019
- Largest tenants
- Macy's; JCPenney; MS Portfolio, LLC
- Value at securitization
- $655.0M (Mar 2025)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.13x | n/a |
| Occupancy | 86% | n/a |
| Net operating income | $41.0M | n/a |
Watch flags
Computed from the BMO 2025-C12 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
- The filing gives Jan 2028 as the lease end date for the largest tenant (Macy's), 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 | $315.5M | Payment not received but still in grace period or not yet due | No | 2.18x | 91% |
| August 2026 | $315.5M | Payment not received but still in grace period or not yet due | No | 2.27x | 95% |
| July 2026 | $315.5M | Current | No | 2.27x | 95% |
| June 2026 | $315.5M | Payment not received but still in grace period or not yet due | No | 2.23x | 95% |
| May 2026 | $315.5M | Payment not received but still in grace period or not yet due | No | 2.23x | 97% |
| April 2026 | $315.5M | Current | No | 2.23x | 100% |
| March 2026 | $315.5M | Current | No | 2.23x | 100% |
| February 2026 | $315.5M | Current | No | 2.23x | 100% |
| January 2026 | $305.9M | Late payment but less than 30 days delinquent | No | 2.23x | 97% |
| December 2025 | $305.9M | 30-59 days delinquent | No | 2.23x | 97% |
| November 2025 | $305.9M | Current | No | n/a | n/a |
| October 2025 | $305.9M | Current | No | 2.08x | 86% |
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 12 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-C35 | 5 | $70,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2025-B41 Mortgage Trust | 3 | $54,783,334 | Sep 2026 | SEC filing, September 28, 2026 |
| BMO 2025-C13 Mortgage Trust | 6 | $41,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Wells Fargo Commercial Mortgage Trust 2025-C65 | 11 | $30,833,333 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2025-C12 Mortgage Trust | 1 | $29,100,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BANK 2025-BNK50 | 1 | $24,500,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35 | 11 | $20,833,333 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2025-C12 Mortgage Trust | 1C | $17,450,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2025-C12 Mortgage Trust | 1A | $17,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2026-C14 Mortgage Trust | 22A | $6,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2026-C14 Mortgage Trust | 22 | $3,550,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2025-C12 Mortgage Trust | 1B | $450,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Burgard Industrial Park | Portland, OR | Industrial | $10.2M | 6.568% | Feb 2035 | n/a | n/a | Current |
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.