Retail · Katy, Texas
28818 Cinco Ranch
28818 Cinco Ranch is financed with a $3.9M CMBS loan at 5.48% that reaches maturity on May 6, 2032, in 5 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,850,000
- Original balance (same notes)
- $3,850,000
- Interest rate
- 5.48% fixed
- Originated
- April 7, 2022
- Maturity
- May 6, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2032
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 28818 Cinco Ranch Boulevard, Katy, TX 77494
- Metro
- Houston-Pasadena-The Woodlands, TX
- Rentable area
- 17,150 sq ft
- Built
- 2016
- Largest tenants
- Cinco Fit; Serasana Wellness Studio; Saigon USA Pho & Grill
- Value at securitization
- $7.2M (Mar 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.14x | 2.61x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $457K | $1.1M |
| Debt yield | 29.3% |
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 BBCMS Mortgage Trust 2022-C16 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 147% above the underwritten figure ($1.1M a year against $457K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.14x at securitization to 2.61x on the latest statements.
- The filing gives Jul 2026 as the lease end date for the largest tenant (Cinco Fit), 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 | $3.9M | Current | No | 2.61x | 100% |
| August 2026 | $3.9M | Current | No | 2.57x | 100% |
| July 2026 | $3.9M | Current | No | 2.57x | 100% |
| June 2026 | $3.9M | Current | No | 2.57x | 100% |
| May 2026 | $3.9M | Current | No | n/a | n/a |
| April 2026 | $3.9M | Current | No | 1.79x | 100% |
| March 2026 | $3.9M | Current | No | 1.79x | 100% |
| February 2026 | $3.9M | Current | No | 1.79x | 100% |
| January 2026 | $3.9M | Current | No | 2.51x | 100% |
| December 2025 | $3.9M | Current | No | 2.51x | 100% |
| November 2025 | $3.9M | Current | No | 3.08x | 100% |
| October 2025 | $3.9M | Current | No | 3.08x | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2022-C16 | 54 | $3,850,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Katy Mills | Katy, TX | Retail | $123.0M | 5.767% | Aug 2032 | 3.63x | 93% | Current |
| The Kirby Collection | Houston, TX | Mixed use | $95.7M | 2.94% | Jan 2032 | 4.64x | 86% | Current |
| Providence at Memorial | Houston, TX | Multifamily | $76.0M | 6.307% | Jun 2032 | n/a | n/a | Current |
| Plaza on Richmond | Houston, TX | Retail | $44.0M | 5.595% | Aug 2032 | 1.61x | 84% | Current |
| Total Plaza | Houston, TX | Office | $32.5M | 4.771% | Apr 2032 | 1.37x | 81% | Current |
| Midtown Central Square | Houston, TX | Office | $30.7M | 5.08% | Mar 2032 | 1.83x | 78% | With the special servicer and 30-59 days delinquent |
| Creekside Apartments | Baytown, TX | Multifamily | $30.6M | 6.02% | Aug 2032 | n/a | n/a | Current |
| Fresenius - Houston | Houston, TX | Retail | $29.6M | 4.14% | Jan 2032 | n/a | n/a | 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.