Multifamily · Cleveland, Ohio
Welleon
Welleon is financed with a $44.6M CMBS loan at 6.23% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $44,600,000
- Original balance (same notes)
- $44,600,000
- Interest rate
- 6.23% fixed
- Originated
- November 7, 2024
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2029
- Master servicer
- Trimont LLC
- Originator
- GSBI
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5506 & 5416 Detroit Avenue, Cleveland, OH 44102
- Metro
- Cleveland, OH
- Units, rooms or beds
- 130
- Built
- 1910
- Value at securitization
- $68.5M (Oct 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.27x | 1.19x |
| Occupancy | 92% | 94% |
| Net operating income (annualized from 6 months) | $3.6M | $3.4M |
| Debt yield | 7.6% |
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 Wells Fargo Commercial Mortgage Trust 2025-5C3 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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
- Net operating income is 5% below the underwritten figure ($3.4M a year against $3.6M; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $44.6M | Current | No | 1.19x | 94% |
| August 2026 | $44.6M | Current | No | 1.21x | 96% |
| July 2026 | $44.6M | Current | No | 1.21x | 96% |
| June 2026 | $44.6M | Current | No | 1.21x | 96% |
| May 2026 | $44.6M | Current | No | 1.14x | 92% |
| April 2026 | $44.6M | Current | No | 1.14x | 92% |
| March 2026 | $25.0M | Current | No | 2.22x | 94% |
| February 2026 | $44.6M | Current | No | 1.14x | 92% |
| January 2026 | $44.6M | Current | No | 1.17x | 83% |
| December 2025 | $44.6M | Current | No | 1.17x | 83% |
| November 2025 | $44.6M | Current | No | 1.17x | 83% |
| October 2025 | $44.6M | Current | No | 1.25x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2025-5C3 | 7 | $44,600,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Cleveland loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 16625 Granite Road | Maple Heights, OH | Office | $82.8M | 3.78% | Aug 2029 | n/a | n/a | Current |
| Van Aken District | Shaker Heights, OH | Mixed use | $53.5M | 3.60% | Dec 2029 | 1.74x | 84% | Current |
| Euclid Apartments | Euclid, OH | Multifamily | $53.0M | 7.06% | Feb 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Us Bank Centre | Cleveland, OH | Office | $31.5M | 5.044% | Jan 2029 | 0.94x | 74% | With the special servicer and 90+ days delinquent |
| Solon Park Apartments | Solon, OH | Multifamily | $28.0M | 6.67% | Jul 2029 | 1.29x | 90% | Current |
| Fifth Third Center | Cleveland, OH | Office | $27.5M | 7.257% | Dec 2029 | 3.00x | 74% | Current |
| Center North | Lakewood, OH | Multifamily | $24.7M | 4.80% | Jun 2029 | 1.21x | 98% | Current |
| The Garfield Apartments | Cleveland, OH | Multifamily | $22.6M | 5.20% | May 2029 | 0.76x | 91% | 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.