Office · Milwaukee, Wisconsin
411 East Wisconsin
Public CMBS trusts hold $83.0M of the loan on 411 East Wisconsin at 4.14% that reaches maturity on July 1, 2027, in 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $83,049,450
- Original balance (same notes)
- $93,750,000
- Interest rate
- 4.14% fixed
- Originated
- June 29, 2017
- Maturity
- July 1, 2027
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- March 31, 2027
- 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
- 411 East Wisconsin Avenue, Milwaukee, WI 53202
- Metro
- Milwaukee-Waukesha, WI
- Rentable area
- 678,839 sq ft
- Built
- 1984, renovated 2016
- Largest tenants
- Quarles & Brady LLP; Von Briesen & Roper SC; WAC Management Inc. dba Wisconsin Athletic Club
- Value at securitization
- $133.2M (May 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.56x | 1.65x |
| Occupancy | 88% | 76% |
| Net operating income (annualized from 6 months) | $10.1M | $9.1M |
| Debt yield | 11.0% |
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 BANK 2017-BNK7 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- Matures within 12 months
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
- Occupancy has fallen from 88% when the loan was securitized to 76%.
- Net operating income is 10% below the underwritten figure ($9.1M a year against $10.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.56x at securitization to 1.65x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $83.0M | Current | No | 1.65x | 76% |
| August 2026 | $83.2M | Current | No | 1.65x | 76% |
| July 2026 | $83.4M | Current | No | 1.81x | 76% |
| June 2026 | $83.5M | Current | No | 1.54x | 76% |
| May 2026 | $83.7M | Current | No | 1.54x | 76% |
| April 2026 | $83.9M | Current | No | 1.54x | 76% |
| March 2026 | $84.0M | Current | No | 1.54x | 76% |
| February 2026 | $84.2M | Current | No | 1.55x | 76% |
| January 2026 | $84.3M | Current | No | 1.55x | 76% |
| December 2025 | $84.5M | Current | No | 1.53x | 76% |
| November 2025 | $84.7M | Current | No | 1.53x | 76% |
| October 2025 | $84.8M | Current | No | 1.53x | 76% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2017-B1 | 3 | $49,829,670 | Sep 2026 | SEC filing, September 30, 2026 |
| BANK 2017-BNK7 | 11 | $33,219,780 | Sep 2026 | SEC filing, September 29, 2026 |
Other Milwaukee-Waukesha loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Roundy's - West Bend, Wi | West Bend, WI | Retail | $36.9M | 3.993% | Sep 2027 | n/a | n/a | Current |
| Monroe Building-Wi | Milwaukee, WI | Office | $4.1M | 5.21% | Feb 2027 | 0.61x | 55% | Current |
| Amcor Industrial | Milwaukee, WI | Industrial | $3.7M | 4.77% | Apr 2027 | 1.70x | 100% | Current |
| Badger Mhp | Franklin, WI | Manufactured housing | $1.2M | 5.16% | Oct 2027 | 2.86x | 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.