Office · Springdale, Ohio
175 Progress Place
175 Progress Place is financed with a $42.2M CMBS loan at 3.82% 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
- $42,178,602
- Original balance (same notes)
- $46,000,000
- Interest rate
- 3.82% fixed
- Originated
- March 19, 2021
- Maturity
- April 6, 2031
- Payments
- Interest only for 12 months, then amortizing
- Prepayment lockout ends
- January 5, 2031
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 175 Progress Place, Springdale, OH 45246
- Metro
- Cincinnati, OH-KY-IN
- Rentable area
- 964,538 sq ft
- Built
- 1964, renovated 2013
- Largest tenants
- PROCTER & GAMBLE COMPANY; General Electric Company; MACY5CORPOPATE SERVICES, INC.
- Value at securitization
- $75.0M (Mar 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.82x | 2.63x |
| Occupancy | 85% | 92% |
| Net operating income (annualized from 6 months) | $4.7M | $13.7M |
| Debt yield | 32.4% |
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-B25 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Occupancy has risen from 85% when the loan was securitized to 92%.
- Net operating income is 192% above the underwritten figure ($13.7M a year against $4.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.82x at securitization to 2.63x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $42.2M | Current | No | 2.63x | 92% |
| August 2026 | $42.3M | Current | No | 2.63x | 92% |
| July 2026 | $42.3M | Current | No | 2.63x | 92% |
| June 2026 | $42.4M | Current | No | n/a | n/a |
| May 2026 | $42.5M | Current | No | n/a | n/a |
| April 2026 | $42.6M | Current | No | 2.21x | 92% |
| March 2026 | $42.6M | Current | No | 2.21x | 92% |
| February 2026 | $42.7M | Current | No | 2.21x | 92% |
| January 2026 | $42.8M | Current | No | 2.21x | 92% |
| December 2025 | $42.9M | Current | No | 2.21x | 92% |
| November 2025 | $43.0M | Current | No | 2.21x | 92% |
| October 2025 | $43.0M | Current | No | 2.28x | 92% |
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-B25 Mortgage Trust | 8 | $42,178,602 | Sep 2026 | SEC filing, September 28, 2026 |
Other Cincinnati loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Links | Cincinnati, OH | Multifamily | $21.4M | 6.43% | Jan 2031 | n/a | n/a | Current |
| City Line Milford Self Storage | OH | Self storage | $12.0M | 6.371% | Jul 2031 | n/a | n/a | Current |
| Shoppes at Mason | Mason, OH | Retail | $7.8M | 3.858% | Nov 2031 | 2.84x | 100% | Current |
| Anderson Property | Monroe, OH | Industrial | $7.6M | 3.58% | Nov 2031 | n/a | n/a | Current |
| The Arthur | Covington, KY | Multifamily | $5.4M | 6.55% | Jul 2031 | n/a | n/a | Current |
| Kings Automall Shopping Center | Cincinnati, OH | Retail | $5.1M | 4.04% | Aug 2031 | 2.80x | 98% | Current |
| Broadway Square Phase 1 | Cincinnati, OH | Mixed use | $4.9M | 3.75% | Jul 2031 | 1.68x | 98% | Current |
| Spring Creek Apartments | Springboro, OH | Multifamily | $2.6M | 4.197% | May 2031 | 2.37x | 96% | 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.