Office · Highland Hills, Ohio
23000 Millcreek Boulevard
23000 Millcreek Boulevard is financed with a $17.0M CMBS loan at 2.70% that reaches maturity on January 5, 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
- $17,000,000
- Original balance (same notes)
- $17,000,000
- Interest rate
- 2.70% fixed
- Originated
- December 23, 2020
- Maturity
- January 5, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 4, 2030
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 23000 Millcreek Boulevard, Highland Hills, OH 44122
- Metro
- Cleveland, OH
- Rentable area
- 154,876 sq ft
- Built
- 1997, renovated 2019
- Largest tenants
- AML RightSource LLC; Paychex North America Inc; Window Nation LLC
- Value at securitization
- $27.5M (Nov 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 4.51x | 4.12x |
| Occupancy | 92% | 90% |
| Net operating income (annualized from 6 months) | $2.1M | $1.9M |
| Debt yield | 11.3% |
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 BANK 2021-BNK31 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
- Net operating income is 8% below the underwritten figure ($1.9M a year against $2.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 4.51x at securitization to 4.12x on the latest statements.
- The filing gives Sep 2029 as the lease end date for the largest tenant (AML RightSource LLC), 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 | $17.0M | Current | No | 4.12x | 90% |
| August 2026 | $17.0M | Current | No | 4.12x | 90% |
| July 2026 | $17.0M | Current | No | 4.53x | 80% |
| June 2026 | $17.0M | Current | No | 4.53x | 80% |
| May 2026 | $17.0M | Current | No | 4.58x | 81% |
| April 2026 | $17.0M | Current | No | 4.58x | 81% |
| March 2026 | $17.0M | Current | No | 5.14x | 92% |
| February 2026 | $17.0M | Current | No | 5.14x | 92% |
| January 2026 | $17.0M | Current | No | 5.14x | 92% |
| December 2025 | $17.0M | Current | No | 5.14x | 92% |
| November 2025 | $17.0M | Current | No | 4.94x | 92% |
| October 2025 | $17.0M | Current | No | 4.94x | 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 |
|---|---|---|---|---|
| BANK 2021-BNK31 | 16 | $17,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Cleveland loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Midtown Towers | Parma, OH | Multifamily | $47.5M | 5.91% | Sep 2031 | n/a | n/a | Current |
| 1010 Building and Heinens Rotunda Building | Cleveland, OH | Mixed use | $22.2M | 4.68% | Jul 2031 | 0.95x | 89% | Current |
| Cleveland Dual Brand Hotel | Independence, OH | Hotel | $20.9M | 8.31% | Jan 2031 | n/a | n/a | Current |
| The Westbury Apartments | North Olmsted, OH | Multifamily | $18.5M | 6.45% | Sep 2031 | n/a | n/a | Current |
| 32 West Apartments | Cleveland, OH | Multifamily | $10.4M | 7.049% | Apr 2031 | n/a | n/a | Current |
| Holiday Inn Mentor Ohio | OH | Hotel | $10.0M | 7.71% | Aug 2031 | n/a | n/a | Current |
| Beachwood Office Park | Beachwood, OH | Office | $5.5M | 4.09% | Jul 2031 | 2.54x | 98% | Current |
| Pinebrook Apartments | Lorain, OH | Multifamily | $4.5M | 3.15% | Sep 2031 | 5.98x | 90% | 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.