BMO 2023-C5 – Deal Overview & Connected Data
Explore verified charts, linked entities, and recent activity for this CMBS deal. Data last updated January 29, 2026.2026-01-29
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Quick Answer
What is BMO 2023-C5? A US commercial mortgage-backed security ($657.8M; 34 loans; 199 properties).
Identifiers: Series bmo2023-c5; CIK 1972920.
Unique value: Dealcharts provides computed pool metrics, time-series performance analysis, and cross-deal comparisons not available in raw SEC EDGAR filings.
Sources: SEC EDGAR CIK 1972920.
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Who's Involved#
Rating AgenciesS&P, Fitch, KBRA
Controlling ClassRREF IV-D AIV RR, LLC
Risk RetentionL-Shaped
Master ServicerMidland Loan Services
Operating AdvisorPark Bridge Lender Services
TrusteeComputershare Trust Company, N.A.
Certificate AdministratorComputershare Trust Company, N.A.
Special ServicerRialto Capital Advisors
DepositorBMO Commercial Mortgage Securities c/o BMO Capital
Deal Metrics
Key performance indicators and statistics tracking the deal's current status and history.Deal Overview
Original Trust Amount
$657,810,000Current Trust Amount
$650,240,668Number of Loans
34Number of Properties
199Average Loan Size
$19,347,353Portfolio Characteristics
Weighted Average Interest Rate
6.7%Weighted Average Term
109 monthsWA DSCR (NCF) at Issuance
1.70xWA DSCR (NCF) Current
1.59xOriginal Valuation
$4,332,570,000Current Valuation
$4,321,820,000Key Dates
Origination Date
5/15/2023Latest Valuation
6/13/2025Latest Transfer
11/7/2025Latest Return
N/ALatest Modification
10/6/2025Special Servicing Status
Loans in Special Servicing
7Special Servicing Balance
$129,482,000Loans Returned to Master
0Balance Returned
N/AAvg Time in Special Servicing
378 daysAvg Time to Return
0 daysValuation Changes
Updated Valuations
8Total Updated Value
$31,400,000Value Change Amount
-$10,750,000Value Change Percentage
-105.0%Modifications
Number of Modifications
5Modified Balance
$122,420,147Deal Charts
Charts showing deal performance over time.
Fund Exposure#
Source: NPORT-P & related disclosures • 2025-11-24| Fund Name | Filing Date | FIGI | LEI | Tranches | Total Value | Reporting Period |
|---|---|---|---|---|---|---|
| American Balanced Fund | 2025-11-24 | Search FIGI | Lookup LEI | A-5 | $5,200,991 | 2025-12-31 |
| Income Fund of America | 2025-09-25 | Search FIGI | Lookup LEI | A-5 | $2,036,810 | 2025-07-31 |
| JPMorgan Income ETF | 2026-01-28 | Search FIGI | Lookup LEI | A-5 | $1,732,527 | 2026-02-28 |
| Intermediate Bond Fund of America | 2026-01-29 | Search FIGI | Lookup LEI | A-5 | $1,404,586 | 2026-08-31 |
| BlackRock Strategic Income Opportunities Portfolio | 2025-11-26 | Search FIGI | Lookup LEI | X-A | $1,144,947 | 2025-12-31 |
| Master Total Return Portfolio | 2024-08-26 | Search FIGI | Lookup LEI | X-A | $714,390 | 2024-09-30 |
| DoubleLine Commercial Real Estate ETF | 2026-02-20 | Search FIGI | Lookup LEI | A-2 | $514,954 | 2026-09-30 |
| Bond Fund of America | 2025-11-24 | Search FIGI | Lookup LEI | A-5 | $425,906 | 2025-12-31 |
| BlackRock Sustainable Total Return Fund | 2025-08-28 | Search FIGI | Lookup LEI | X-A | $9,235 | 2025-09-30 |
| Fund Name | Tranches | Ids |
|---|---|---|
| American Balanced Fund $5,200,991 2025-12-31 | A-5 | Search FIGI Lookup LEI |
| Income Fund of America $2,036,810 2025-07-31 | A-5 | Search FIGI Lookup LEI |
| JPMorgan Income ETF $1,732,527 2026-02-28 | A-5 | Search FIGI Lookup LEI |
| Intermediate Bond Fund of America $1,404,586 2026-08-31 | A-5 | Search FIGI Lookup LEI |
| BlackRock Strategic Income Opportunities Portfolio $1,144,947 2025-12-31 | X-A | Search FIGI Lookup LEI |
| Master Total Return Portfolio $714,390 2024-09-30 | X-A | Search FIGI Lookup LEI |
| DoubleLine Commercial Real Estate ETF $514,954 2026-09-30 | A-2 | Search FIGI Lookup LEI |
| Bond Fund of America $425,906 2025-12-31 | A-5 | Search FIGI Lookup LEI |
| BlackRock Sustainable Total Return Fund $9,235 2025-09-30 | X-A | Search FIGI Lookup LEI |
9 of 9 funds* Use toggle buttons to sort
* This table is not yet exhaustive. It is a new feature and contains only the funds we have found so far based on the tranche identifiers we know about. We are still working on it!
* The FIGI Search url provided for each fund will link you to the OpenFIGI search page to lookup FIGI identifiers.
* Reporting Period represents the reporting period end date from the NPORT-P filing.
* For full disclosures, please visit our disclosures page.
* The FIGI Search url provided for each fund will link you to the OpenFIGI search page to lookup FIGI identifiers.
* Reporting Period represents the reporting period end date from the NPORT-P filing.
* For full disclosures, please visit our disclosures page.
Provenance & Documents
Issuance → amendments → reports. Tap to view on SEC.Context & Commentary#
Entity Statements
💬 Servicer Commentary
2026-01-29
Portfolio (3 Multifamily properties)
Nishant Meraiya
Prospectus ID: 30
1/12/2026 - Borrower remains non-compliant with cash management and reporting requirements. Foreclosure litigation is ongoing and a receiver has been appointed by the court. Property condition and performance continue to be evaluated.
💬 Servicer Commentary
2026-01-29
The Penleigh
Galen Drever
Prospectus ID: 16
1/12/2026 - Borrower has executed PNL and is cooperating with Special Servicer. Loan was brought current on October 6, 2025. Borrower is in the process of Cash Management implementation in order to be sent back to the Master Servicer in Q1 2026. As of December 28, 2025, Borrower is cooperating with Special Servicer and is pending a budget approval.
💬 Servicer Commentary
2026-01-29
Prospectus ID: 8A
1/12/2026 - Loan transferred due to non-monetary default on 11/13/2025. Borrower indicated an intent to cure outstanding defaults. Outstanding financial reporting has been requested and a payoff statement has been ordered.
💬 Servicer Commentary
2026-01-29
Portfolio (3 Multifamily properties)
Mendel Steiner
Prospectus ID: 4
1/12/2026 - Borrower remains non-compliant with cash management and reporting requirements. Foreclosure litigation is ongoing and a receiver has been appointed by the court. Property condition and performance continue to be evaluated.
💬 Servicer Commentary
2026-01-29
Richmond Medical Office
Guy Holbrook IV
Prospectus ID: 33
1/12/2026 - Made contact with Borrower. PNL executed. Working on Cash Management implementation (Borrower cooperating thus far).
💬 Servicer Commentary
2026-01-29
Portfolio (4 Multifamily properties)
Mendel Steiner
Prospectus ID: 29
1/12/2026 - Borrower remains non-compliant with cash management and reporting requirements. Foreclosure litigation is ongoing and a receiver has been appointed by the court. Property condition and performance continue to be evaluated.
💬 Servicer Commentary
2025-11-03
Prospectus ID: 6A6
10/14/2025 - Loan transferred to SS on 3/25 due to default associated with properties with a total ALA representing over 40% of total ALA having been rejected in BK court. The Loan is a $425MM 1st lien, fixed-rate, interest-only, mortgage loan. The $425MM Loan is comprised of 9 notes, secured by fee & leasehold interest in 42, primarily grocery store properties. The 42 Properties, were 100% leased to six tenants, pursuant to triple net ( NNN ) leases, consisted of 31 retail Properties, 7 industrial, and 4 office Properties located in 8 states. In 3Q24, the tenants in the 3 largest properties filed BK. The BK''s ultimately resulted in the rejection of leases on 9 of the pools 42 properties by 3/31/25. Those lease rejections represented 45% of the Loan''s A LA. The Borrower contacted the Master in 3/25 and self-reported. The 2023 UW appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The Borrower entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level. Lender has approved modification that will provide an immediate $72MM payment guarantee to cover a portion of the diminution in value caused by the 9 buildings going dark and retaining an LTV of 40.4%, in return from increasing the 40% ALA default level to 50%. Borrower will incentivize the Borrower to lease or sell the dark
External Analysis
No external analysis linked yet. Contact us to publish and link your research.Have a source-backed note on this deal? Contact us.
Datasets & API#
Machine-readable spec (ODPS): /odps/cmbs-deals.yamlGET https://api.dealcharts.org/deals/bmo2023-c5
{
"deal_id": "bmo2023-c5",
"issuer": "",
"shelf": "",
"issue_date": "",
"linked_entities": [
{
"role": "Rating Agencies",
"name": "S&P, Fitch, KBRA"
},
{
"role": "Controlling Class",
"name": "RREF IV-D AIV RR, LLC"
},
{
"role": "Risk Retention",
"name": "L-Shaped"
},
{
"role": "Master Servicer",
"name": "Midland Loan Services"
},
{
"role": "Operating Advisor",
"name": "Park Bridge Lender Services"
},
{
"role": "Trustee",
"name": "Computershare Trust Company, N.A."
},
{
"role": "Certificate Administrator",
"name": "Computershare Trust Company, N.A."
},
{
"role": "Special Servicer",
"name": "Rialto Capital Advisors"
},
{
"role": "Depositor",
"name": "BMO Commercial Mortgage Securities c/o BMO Capital"
}
]
}Access the underlying datasets used to power these analytics.
CMBS Fund Holdings Dataset
Filing data from sec.gov NPORT-P to produce the Fund Holdings table.
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