Mixed use portfolio, 15 properties · Saint Rose, Louisiana
115 Canvasback Drive
This portfolio is financed with a $38.0M CMBS loan at 3.755% that reaches maturity on April 6, 2031, in 4 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $38,000,000
- Original balance (same notes)
- $38,000,000
- Interest rate
- 3.755% fixed
- Originated
- March 30, 2021
- Maturity
- April 6, 2031
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 115 Canvasback Drive, Saint Rose, LA 70087
- Metro
- New Orleans-Metairie, LA
- Value at securitization
- $60.3M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | n/a | $4.4M |
| Debt yield | 11.7% |
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 Morgan Stanley Capital I Trust 2021-L5 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 115 Canvasback Drive | Saint Rose, LA | Mixed Use | 100% | 3.07x |
| 150 Teal Street | Saint Rose, LA | Mixed Use | 100% | n/a |
| 120 Mallard Street | Saint Rose, LA | Mixed Use | 88% | n/a |
| 110 Widgeon Drive | Saint Rose, LA | Mixed Use | 100% | n/a |
| 150 James Drive East | Saint Rose, LA | Mixed Use | 92% | n/a |
| 161 James Drive West | Saint Rose, LA | Mixed Use | 100% | n/a |
| 100 James Drive | Saint Rose, LA | Mixed Use | 39% | n/a |
| 150 Canvasback Drive | Saint Rose, LA | Mixed Use | 100% | n/a |
| 125 James Drive West | Saint Rose, LA | Mixed Use | 79% | n/a |
| 190 James Drive East | Saint Rose, LA | Mixed Use | 100% | n/a |
| 160 James Drive East | Saint Rose, LA | Mixed Use | 77% | n/a |
| 107 Mallard Street | Saint Rose, LA | Mixed Use | 100% | n/a |
| 125 Mallard Street | Saint Rose, LA | Mixed Use | 100% | n/a |
| 143 Mallard Street | Saint Rose, LA | Mixed Use | 76% | n/a |
| 115 James Drive West | Saint Rose, LA | Mixed Use | 100% | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| August 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| July 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| June 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| May 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| April 2026 | $38.0M | Not reported | No | 3.07x | 100% |
| March 2026 | $38.0M | Not reported | No | n/a | 90% |
| February 2026 | $38.0M | Not reported | No | 3.22x | 100% |
| January 2026 | $38.0M | Not reported | No | 3.22x | 100% |
| December 2025 | $38.0M | Not reported | No | n/a | 100% |
| November 2025 | $38.0M | Not reported | No | 3.24x | 100% |
| October 2025 | $38.0M | Not reported | No | 3.24x | 100% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L5 | 4 | $38,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other New Orleans-Metairie loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Energy Centre | New Orleans, LA | Office | $61.0M | 6.61% | Mar 2031 | n/a | n/a | Current |
| Tanglewood Apartments | Westwego, LA | Multifamily | $30.0M | 3.83% | Nov 2031 | n/a | n/a | Current |
| Elmwood Distribution Center | Elmwood, LA | Industrial | $15.0M | 2.85% | Jul 2031 | 5.12x | 87% | Current |
| Fountainbleau Self Storage | New Orleans, LA | Self storage | $6.5M | 3.41% | Jan 2031 | 0.10x | 66% | Current |
| 5800 Brookhollow | Elmwood, LA | Industrial | $2.0M | 2.85% | Jul 2031 | 8.17x | 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.