Mixed use · Miami Beach, Florida
17 West Miami
17 West Miami is financed with a $55.0M CMBS loan at 3.81% that reaches maturity on December 6, 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
- $55,000,000
- Original balance (same notes)
- $55,000,000
- Interest rate
- 3.81% fixed
- Originated
- November 9, 2021
- Maturity
- December 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2031
- Master servicer
- Trimont LLC
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1698 Alton Road, Miami Beach, FL 33139
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 63,146 sq ft
- Built
- 2019
- Largest tenants
- Sonder USA Inc; Trader Joe's Company; Truist Bank
- Value at securitization
- $83.5M (Oct 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.93x | 1.67x |
| Occupancy | 94% | 100% |
| Net operating income (annualized from 3 months) | $4.1M | $3.6M |
| Debt yield | 6.5% |
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 Wells Fargo Commercial Mortgage Trust 2021-C61 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
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
- Occupancy has risen from 94% when the loan was securitized to 100%.
- Net operating income is 13% below the underwritten figure ($3.6M a year against $4.1M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.93x at securitization to 1.67x on the latest statements.
- The filing gives Jan 2030 as the lease end date for the largest tenant (Sonder USA Inc), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $55.0M | Current | No | 1.67x | 100% |
| August 2026 | $55.0M | Current | No | 1.67x | 100% |
| July 2026 | $55.0M | Current | No | 1.67x | 100% |
| June 2026 | $55.0M | Current | No | 1.67x | 100% |
| May 2026 | $55.0M | Current | No | 2.04x | 100% |
| April 2026 | $55.0M | Current | No | 2.04x | 100% |
| March 2026 | $55.0M | Current | No | 2.04x | 100% |
| February 2026 | $55.0M | Current | No | 2.04x | 100% |
| January 2026 | $55.0M | Current | No | 2.04x | 100% |
| December 2025 | $55.0M | Current | No | 2.04x | 100% |
| November 2025 | $55.0M | Current | No | 1.93x | 100% |
| October 2025 | $55.0M | Current | No | 1.93x | 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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2021-C61 | 2 | $55,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Phillips Point | West Palm Beach, FL | Office | $198.5M | 3.34% | Feb 2031 | 2.04x | 74% | Current |
| Cottage Cove Apartments | Miami, FL | Multifamily | $87.5M | 6.45% | Feb 2031 | n/a | n/a | Current |
| Extra Space Brickell | Miami, FL | Self storage | $65.0M | 3.99% | May 2031 | n/a | n/a | Current |
| Holiday Inn Miami Hialeah | Hialeah Gardens, FL | Hotel | $60.0M | 7.372% | Mar 2031 | n/a | n/a | Current |
| Doral Concourse | Doral, FL | Office | $56.0M | 3.31% | Aug 2031 | 2.24x | 84% | Current |
| Doral Center | Doral, FL | Office | $53.5M | 7.35% | Aug 2031 | n/a | n/a | Current |
| Innovo at Sunrise | Sunrise, FL | Multifamily | $34.0M | 5.96% | Apr 2031 | n/a | n/a | Current |
| Crossroads I II & IV | Plantation, FL | Office | $33.5M | 6.571% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Miami-Fort Lauderdale-West Palm Beach 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.