Office portfolio, 2 properties · Cranford, New Jersey
20 Commerce
Public CMBS trusts hold $18.8M of the loan on this portfolio at 3.84% that reaches maturity on January 6, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,813,462
- Original balance (same notes)
- $19,769,000
- Interest rate
- 3.84% fixed
- Originated
- December 7, 2020
- Maturity
- January 6, 2031
- Payments
- Interest only for 36 months, then amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 20 Commerce Drive, Cranford, NJ 07016
- Metro
- New York-Newark-Jersey City, NY-NJ
- Value at securitization
- $130.1M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | n/a | $7.7M |
| Debt yield | 41.0% |
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 |
|---|---|---|---|---|
| 20 Commerce | Cranford, NJ | Office | 91% | 1.87x |
| Hauppauge Office Park | Hauppauge, NY | Office | 86% | 1.41x |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $18.8M | Not reported | No | 1.87x | 91% |
| August 2026 | $18.8M | Late payment but less than 30 days delinquent | No | 1.87x | 91% |
| July 2026 | $18.9M | Not reported | No | 1.87x | 91% |
| June 2026 | $18.9M | Not reported | No | 1.70x | 91% |
| May 2026 | $18.9M | Not reported | No | 1.70x | 91% |
| April 2026 | $19.0M | Not reported | No | 1.90x | 91% |
| March 2026 | $19.1M | 30-59 days delinquent | No | n/a | 79% |
| February 2026 | $19.1M | Late payment but less than 30 days delinquent | No | 1.90x | 91% |
| January 2026 | $19.1M | Not reported | No | 1.90x | 91% |
| December 2025 | $19.1M | Not reported | No | n/a | 79% |
| November 2025 | $19.1M | Not reported | No | 1.90x | 82% |
| October 2025 | $19.2M | Not reported | No | 1.90x | 82% |
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 | 12 | $18,813,462 | Sep 2026 | SEC filing, October 2, 2026 |
Other New York-Newark-Jersey City loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 375 Pearl Street | New York, NY | Office | $220.0M | 3.368% | Jun 2031 | 2.15x | 100% | Current |
| Park Avenue Plaza | New York, NY | Office | $180.0M | 2.837% | Nov 2031 | 3.70x | 100% | Current |
| 535-545 Fifth Avenue | New York, NY | Mixed use | $179.6M | 7.06% | Jan 2031 | n/a | n/a | Current |
| 15 West 47th Street | New York, NY | Office | $141.0M | 3.51% | Jan 2031 | n/a | n/a | Current |
| 2 Washington Street | New York, NY | Multifamily | $131.5M | 3.45% | Aug 2031 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 535 & 545 5th Avenue | New York, NY | Mixed use | $129.7M | 7.06% | Jan 2031 | n/a | n/a | Current |
| 1 Willoughby Square | Brooklyn, NY | Office | $125.0M | 6.786% | Jan 2031 | 0.97x | 91% | Current |
| The Arches | Bronx, NY | Other | $120.0M | 5.436% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All New York-Newark-Jersey City 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.