Manufactured housing · Sebastian, Florida
Whispering Palms Mhc
Whispering Palms Mhc is financed with a $25.0M CMBS loan at 6.636% that reaches maturity on September 1, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,000,000
- Original balance (same notes)
- $25,000,000
- Interest rate
- 6.636% fixed
- Originated
- August 22, 2024
- Maturity
- September 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 28, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 10305 U.s. Highway 1, Sebastian, FL 32958
- Units, rooms or beds
- 569
- Built
- 1967
- Value at securitization
- $52.1M (Jul 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.46x | 2.30x |
| Occupancy | 74% | 71% |
| Net operating income (annualized from 3 months) | $2.5M | $3.9M |
| 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 BANK5 2024-5YR10 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
- Occupancy has fallen from 74% when the loan was securitized to 71%.
- Net operating income is 57% above the underwritten figure ($3.9M a year against $2.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.46x at securitization to 2.30x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $25.0M | Current | No | 2.30x | 71% |
| August 2026 | $25.0M | Late payment but less than 30 days delinquent | No | 2.30x | 71% |
| July 2026 | $25.0M | Current | No | 2.30x | 71% |
| June 2026 | $25.0M | Current | No | 1.31x | 99% |
| May 2026 | $25.0M | Current | No | 1.31x | 99% |
| April 2026 | $25.0M | Current | No | 1.38x | 99% |
| March 2026 | $25.0M | Current | No | 1.38x | 99% |
| February 2026 | $25.0M | Current | No | 1.38x | 99% |
| January 2026 | $25.0M | Current | No | 1.38x | 99% |
| December 2025 | $25.0M | Current | No | 1.38x | 99% |
| November 2025 | $25.0M | Current | No | 1.64x | 97% |
| October 2025 | $25.0M | Current | No | 1.64x | 97% |
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 |
|---|---|---|---|---|
| BANK5 2024-5YR10 | 11 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Florida loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 3 Avenues Shopping Center | Vero Beach, FL | Retail | $12.4M | 3.45% | Nov 2029 | n/a | n/a | Current |
| Storeright Self Storage - Vero Beach | Vero Beach, FL | Self storage | $5.7M | 4.16% | Oct 2029 | 1.98x | 90% | Current |
| Aero Treasure Coast Self Storage | Vero Beach, FL | Self storage | $4.3M | 6.589% | Sep 2029 | 1.08x | 92% | Current |
| The Modern | Vero Beach, FL | Mixed use | $4.2M | 4.55% | Nov 2029 | 2.04x | 100% | 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.