Retail portfolio, 2 properties · Addison, Michigan
215 S. Steer Street
This portfolio is financed with a $1.8M CMBS loan at 4.35% that reaches maturity on March 6, 2030, in 3 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $1,822,849
- Original balance (same notes)
- $1,867,694
- Interest rate
- 4.35% fixed
- Originated
- February 13, 2020
- Maturity
- March 6, 2030
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- December 5, 2029
- Master servicer
- Midland
- Originator
- BSPRT CMBS Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 215 S. Steer Street, Addison, MI 49220
- Value at securitization
- $2.7M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 6 months) | $176K | $410K |
| Debt yield | 22.5% |
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 DBJPM 2020-C9 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 132% above the underwritten figure ($410K a year against $176K; the latest statement covers 6 months, annualized).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 215 S. Steer Street | Addison, MI | Retail | n/a | 1.57x |
| 283 8 Mile Rd | Union City, MI | Retail | n/a | 2.08x |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $1.8M | Current | No | 1.57x | n/a |
| August 2026 | $1.8M | Current | No | 1.57x | n/a |
| July 2026 | $1.8M | Current | No | n/a | n/a |
| June 2026 | $1.8M | Current | No | n/a | n/a |
| May 2026 | $1.8M | Current | No | n/a | n/a |
| April 2026 | $1.8M | Current | No | n/a | n/a |
| March 2026 | $1.8M | Current | No | n/a | n/a |
| February 2026 | $1.8M | Current | No | n/a | n/a |
| January 2026 | $1.8M | Current | No | n/a | n/a |
| December 2025 | $1.8M | Current | No | n/a | n/a |
| November 2025 | $1.8M | Current | No | n/a | n/a |
| October 2025 | $1.9M | Late payment but less than 30 days delinquent | No | n/a | n/a |
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 |
|---|---|---|---|---|
| DBJPM 2020-C9 Mortgage Trust | 29 | $1,822,849 | Sep 2026 | SEC filing, October 1, 2026 |
Other Michigan loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Gateway Industrial Center | Detroit, MI | Industrial | $93.0M | 6.74% | Jul 2030 | n/a | n/a | Late, less than 30 days |
| The Westin Book Cadillac | Detroit, MI | Hotel | $75.0M | 4.39% | Feb 2030 | 0.83x | 63% | Current |
| The Draxton Hotel 2.0 | Birmingham, MI | Hotel | $50.0M | 6.82% | Aug 2030 | 2.32x | 67% | Current |
| Inland Self Storage Michigan Portfolio | MI | Self storage | $46.7M | 3.71% | Mar 2030 | 1.89x | 79% | Current |
| Infinity Park Apartments | Detroit, MI | Multifamily | $38.0M | 5.613% | Dec 2030 | n/a | n/a | Current |
| Southfield Westin | Southfield, MI | Hotel | $37.9M | 7.395% | May 2030 | 2.01x | 70% | Current |
| Lewis Technology Centre | Novi, MI | Office | $30.6M | 3.688% | Feb 2030 | n/a | n/a | Current |
| Earhart Corporate Center | Ann Arbor, MI | Office | $29.5M | 3.572% | Oct 2030 | 2.11x | 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.