Retail · Kentwood, Michigan
Woodland Mall
Public CMBS trusts hold $80.0M of the loan on Woodland Mall at 7.35% 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
- $80,000,000
- Original balance (same notes)
- $80,000,000
- Interest rate
- 7.35% fixed
- Originated
- November 19, 2024
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3195 28th Street Se, Kentwood, MI 49512
- Metro
- Grand Rapids-Wyoming-Kentwood, MI
- Rentable area
- 563,041 sq ft
- Built
- 1968, renovated 2019
- Largest tenants
- Main Event; Phoenix Theatres; Barnes & Noble
- Value at securitization
- $151.0M (Sep 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.02x | 2.16x |
| Occupancy | 96% | 95% |
| Net operating income (annualized from 6 months) | $12.0M | $12.9M |
| Debt yield | 16.2% |
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 2024-5C8 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
- Net operating income is 8% above the underwritten figure ($12.9M a year against $12.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.02x at securitization to 2.16x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $80.0M | Current | No | 2.16x | 95% |
| August 2026 | $80.0M | Current | No | 2.11x | 95% |
| July 2026 | $80.0M | Current | No | 2.11x | 95% |
| June 2026 | $80.0M | Current | No | 2.11x | 95% |
| May 2026 | $80.0M | Current | No | 2.26x | 97% |
| April 2026 | $80.0M | Late payment but less than 30 days delinquent | No | 2.12x | 96% |
| March 2026 | $80.0M | Late payment but less than 30 days delinquent | No | 2.12x | 96% |
| February 2026 | $80.0M | Current | No | 2.12x | 96% |
| January 2026 | $80.0M | Current | No | 2.12x | 96% |
| December 2025 | $80.0M | Current | No | 2.12x | 96% |
| November 2025 | $80.0M | Current | No | 2.10x | 95% |
| October 2025 | $80.0M | Current | No | 2.10x | 95% |
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 |
|---|---|---|---|---|
| BMO 2024-5C8 Mortgage Trust | 7 | $30,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Benchmark 2025-V13 Mortgage Trust | 9 | $30,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
| BMO 2024-5C8 Mortgage Trust | 7A | $20,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Grand Rapids-Wyoming-Kentwood loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Farmers Insurance Corporate Campus | Caledonia, MI | Office | $92.8M | 3.55% | Sep 2029 | 1.60x | 100% | Current |
| 1040 40th Street SE | Grand Rapids, MI | Industrial | $45.5M | 7.06% | Jun 2029 | 1.34x | 100% | Current |
| 48 West | Allendale, MI | Multifamily | $33.0M | 7.20% | Jul 2029 | 1.37x | 93% | Current |
| Appletree | Walker, MI | Manufactured housing | $28.4M | 4.90% | Apr 2029 | n/a | n/a | Current |
| Village at Knapp's Crossing | Grand Rapids, MI | Retail | $25.2M | 3.65% | Nov 2029 | 2.11x | 100% | Current |
| Green Orchards Shopping Center | Walker, MI | Retail | $9.5M | 4.09% | Dec 2029 | 2.45x | 100% | Current |
| Lofts On Michigan | Grand Rapids, MI | Multifamily | $8.9M | 5.02% | Jun 2029 | 1.19x | 98% | Current |
| WoodSpring Suites - Holland | Holland, MI | Hotel | $7.0M | 3.641% | Sep 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Grand Rapids-Wyoming-Kentwood 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.