Metro area
Grand Rapids-Wyoming-Kentwood CMBS loans
The Grand Rapids-Wyoming-Kentwood, MI metro has 26 loans in public CMBS trusts with $555.7M outstanding. 10.3% of the balance is with a special servicer and 10.3% is delinquent. 6 loans ($104.0M) mature by the end of 2027.
Maturing by year
| Year | Loans | Balance |
|---|---|---|
| 2026 | 2 | $26.5M |
| 2027 | 2 | $20.3M |
| 2028 | 1 | $1.2M |
| 2029 | 11 | $341.1M |
| 2030 | 3 | $25.6M |
| 2031 | 2 | $38.9M |
By property type
| Type | Loans | Balance | Special servicing |
|---|---|---|---|
| Retail | 6 | $155.0M | 0.0% |
| Office | 3 | $141.7M | 26.3% |
| Industrial | 5 | $108.1M | 0.0% |
| Multifamily | 4 | $62.4M | 0.0% |
| Hotel | 5 | $48.7M | 41.0% |
| Manufactured housing | 3 | $39.9M | 0.0% |
Due in the next 12 months
Loans in Grand Rapids-Wyoming-Kentwood
All 26, largest first.
| 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 |
| Woodland Mall | Kentwood, MI | Retail | $80.0M | 7.35% | Dec 2029 | 2.16x | 95% | Current |
| 1040 40th Street SE | Grand Rapids, MI | Industrial | $45.5M | 7.06% | Jun 2029 | 1.34x | 100% | Current |
| Bridgewater Place | Grand Rapids, MI | Office | $37.3M | 3.89% | Sep 2025 | n/a | n/a | Past maturity and not performing |
| 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 |
| Metra Portfolio | Belding, MI | Industrial | $27.2M | 7.50% | Nov 2033 | n/a | n/a | Current |
| Village at Knapp's Crossing | Grand Rapids, MI | Retail | $25.2M | 3.65% | Nov 2029 | 2.11x | 100% | Current |
| Grand Rapids Commerce Center | Grand Rapids, MI | Industrial | $23.9M | 3.38% | Oct 2031 | n/a | n/a | Current |
| Walgreens - Allendale, MI | Allendale, MI | Retail | $22.5M | 4.593% | Dec 2026 | n/a | n/a | Current |
| DoubleTree Grand Rapids | Grand Rapids, MI | Hotel | $19.9M | 5.096% | May 2024 | n/a | n/a | Past maturity and not performing |
| Icon on Bond | Grand Rapids, MI | Multifamily | $15.0M | 3.665% | May 2031 | 3.74x | 97% | Current |
| 801 Broadway | Grand Rapids, MI | Office | $11.6M | 4.271% | Nov 2027 | 2.60x | 90% | Current |
| Tesla Grand Rapids | Grand Rapids, MI | Industrial | $10.3M | 5.608% | Nov 2030 | n/a | n/a | Current |
| Green Orchards Shopping Center | Walker, MI | Retail | $9.5M | 4.09% | Dec 2029 | 2.45x | 100% | Current |
| Cascade East | Grand Rapids, MI | Retail | $9.1M | 6.55% | Jan 2036 | 2.18x | 97% | Current |
| Lofts On Michigan | Grand Rapids, MI | Multifamily | $8.9M | 5.02% | Jun 2029 | 1.19x | 98% | Current |
| Greenville Retail Center | Greenville, MI | Retail | $8.7M | 4.53% | Jul 2027 | 2.30x | 89% | Current |
| Hampton Inn Grandville | Grandville, MI | Hotel | $8.6M | 7.00% | Aug 2034 | 1.58x | 66% | Current |
| Staybridge Suites Grand Rapids | Grand Rapids, MI | Hotel | $7.8M | 4.29% | Jan 2030 | n/a | n/a | Current |
| Cedar Springs Mobile Estates | Cedar Springs, MI | Manufactured housing | $7.5M | 6.028% | Mar 2030 | n/a | n/a | Current |
| WoodSpring Suites - Holland | Holland, MI | Hotel | $7.0M | 3.641% | Sep 2029 | n/a | n/a | Current |
| Lofts at Ionia | Grand Rapids, MI | Multifamily | $5.5M | 4.75% | Aug 2029 | 1.10x | 96% | Current |
| Comfort Suites - Grand Rapids | Comstock Park, MI | Hotel | $5.3M | 4.685% | May 2029 | 0.34x | 56% | Current |
| Key Heights Mhc | Lowell, MI | Manufactured housing | $4.0M | 4.01% | Oct 2026 | 2.43x | 93% | Current |
| Airlane Building | Kentwood, MI | Industrial | $1.2M | 5.48% | Oct 2028 | 2.26x | 100% | Current |
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