Multifamily portfolio, 2 properties · Ann Arbor, Michigan
1320 South University Avenue
This portfolio is financed with a $7.0M CMBS loan at 3.65% that reaches maturity on December 1, 2031, in 5 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
- $7,000,000
- Original balance (same notes)
- $7,000,000
- Interest rate
- 3.65% fixed
- Originated
- November 16, 2021
- Maturity
- December 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2023
- Prepayment premium ends
- August 31, 2031 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1320 South University Ave, Ann Arbor, MI 48104
- Metro
- Ann Arbor, MI
- Value at securitization
- $11.9M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 6 months) | $756K | $2.0M |
| Debt yield | 28.6% |
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 BENCHMARK 2021-B31 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 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 165% above the underwritten figure ($2.0M a year against $756K; the latest statement covers 6 months, annualized).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 1320 South University Avenue | Ann Arbor, MI | Multifamily | 100% | 3.83x |
| 511 East Hoover Avenue | Ann Arbor, MI | Multifamily | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.0M | Current | No | 3.83x | 100% |
| August 2026 | $7.0M | Current | No | 3.83x | 100% |
| July 2026 | $7.0M | Current | No | n/a | n/a |
| June 2026 | $7.0M | Current | No | n/a | n/a |
| May 2026 | $7.0M | Current | No | n/a | n/a |
| April 2026 | $7.0M | Current | No | 3.75x | n/a |
| March 2026 | $7.0M | Current | No | 3.75x | n/a |
| February 2026 | $7.0M | Current | No | 3.75x | n/a |
| January 2026 | $7.0M | Current | No | 3.63x | 100% |
| December 2025 | $7.0M | Current | No | 3.63x | 100% |
| November 2025 | $7.0M | Current | No | 3.63x | 100% |
| October 2025 | $7.0M | Current | No | 4.25x | 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 |
|---|---|---|---|---|
| BENCHMARK 2021-B31 MORTGAGE TRUST | 48 | $7,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
Other Ann Arbor loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Marriott Ann Arbor Ypsilanti | Ypsilanti, MI | Hotel | $27.5M | 7.055% | Jan 2031 | 1.25x | 60% | Current |
| Redwood Ypsilanti | Ypsilanti, MI | Multifamily | $26.0M | 4.075% | Mar 2031 | 1.96x | 94% | 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.