Office · Whippany, New Jersey
4 Apollo Drive
4 Apollo Drive is financed with a $12.3M CMBS loan at 7.13% that reaches maturity on September 6, 2033, in 6 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,250,000
- Original balance (same notes)
- $12,250,000
- Interest rate
- 7.13% fixed
- Originated
- August 22, 2023
- Maturity
- September 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 5, 2023
- Prepayment premium ends
- June 5, 2033 (yield maintenance)
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 4 Apollo Drive, Whippany, NJ 07981
- Metro
- New York-Newark-Jersey City, NY-NJ
- Built
- 2006, renovated 2020
- Largest tenants
- CAE SimuFlite Inc.
- Value at securitization
- $24.7M (Jun 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.19x | 1.98x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.9M | $3.5M |
| Debt yield | 28.8% |
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 2023-C21 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 82% above the underwritten figure ($3.5M a year against $1.9M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.19x at securitization to 1.98x on the latest statements.
- The filing gives Nov 2031 as the lease end date for the largest tenant (CAE SimuFlite Inc.), 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 | $12.3M | Current | No | 1.98x | 100% |
| August 2026 | $12.3M | Current | No | 1.98x | 100% |
| July 2026 | $12.3M | Current | No | n/a | n/a |
| June 2026 | $12.3M | Current | No | n/a | n/a |
| May 2026 | $12.3M | Current | No | n/a | n/a |
| April 2026 | $12.3M | Current | No | 1.91x | 100% |
| March 2026 | $12.3M | Current | No | 1.91x | 100% |
| February 2026 | $12.3M | Current | No | 1.91x | 100% |
| January 2026 | $12.3M | Current | No | 1.91x | 100% |
| December 2025 | $12.3M | Current | No | 1.91x | 100% |
| November 2025 | $12.3M | Current | No | 1.91x | 100% |
| October 2025 | $12.3M | Current | No | 1.91x | 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 2023-C21 | 21 | $12,250,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New York-Newark-Jersey City loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 60 Hudson | New York, NY | Other | $280.0M | 5.885% | Oct 2033 | 3.69x | 64% | Current |
| 100 Jefferson Road | Parsippany, NJ | Industrial | $67.5M | 7.26% | Apr 2033 | 1.57x | 100% | Current |
| 2 Executive | Fort Lee, NJ | Mixed use | $54.5M | 6.219% | Apr 2033 | n/a | 93% | With the special servicer and 90+ days delinquent |
| Cross Island Plaza | Rosedale, NY | Office | $42.5M | 6.605% | May 2033 | n/a | n/a | With the special servicer |
| 2136/2138 Honeywell Avenue a/k/a 901/903 E 181st St | Bronx, NY | Multifamily | $36.0M | 7.25% | Dec 2033 | n/a | n/a | Current |
| 100 Jefferson | Parsippany, NJ | Industrial | $30.0M | 7.26% | Apr 2033 | n/a | n/a | Current |
| 500 Mamaroneck | Harrison, NY | Office | $29.5M | 6.83% | Apr 2033 | 0.74x | 100% | Current |
| 175 E 62nd Street | New York, NY | Multifamily | $25.0M | 2.295% | Sep 2033 | 5.22x | 100% | 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.