Retail · New Iberia, Louisiana
900 E Admiral Drive
900 E Admiral Drive is financed with a $8.3M CMBS loan at 4.42% that reaches maturity on March 1, 2032, in 5 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
- $8,318,732
- Original balance (same notes)
- $8,670,000
- Interest rate
- 4.42% fixed
- Originated
- February 11, 2022
- Maturity
- March 1, 2032
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- October 31, 2031
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Mortgage Capital Holdings LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 900 East Admiral Doyle Drive, New Iberia, LA 70560
- Rentable area
- 114,620 sq ft
- Built
- 1990, renovated 2019
- Largest tenants
- Hobby Lobby; Rouses Enterprises LLC #HQ998; Ross Dress for Less
- Value at securitization
- $12.8M (Dec 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.60x | 2.11x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $836K | $1.1M |
| Debt yield | 13.3% |
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 2022-BNK40 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 33% above the underwritten figure ($1.1M a year against $836K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.60x at securitization to 2.11x on the latest statements.
- The filing gives May 2029 as the lease end date for the largest tenant (Hobby Lobby), before the loan matures. Lenders look hard at that rollover.
The last 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.3M | Current | No | 2.11x | 100% |
| August 2026 | $8.3M | Current | No | 2.11x | 100% |
| June 2026 | $8.4M | Current | No | 1.79x | 100% |
| May 2026 | $8.4M | Current | No | 1.79x | 100% |
| April 2026 | $8.4M | Current | No | 2.22x | 100% |
| March 2026 | $8.4M | Current | No | 2.22x | 100% |
| February 2026 | $8.4M | Current | No | 2.22x | 100% |
| January 2026 | $8.4M | Current | No | 2.19x | 100% |
| December 2025 | $8.4M | Current | No | 2.19x | 100% |
| November 2025 | $8.4M | Current | No | 2.19x | 100% |
| October 2025 | $8.5M | Current | No | 2.15x | 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 |
|---|---|---|---|---|
| BANK 2022-BNK40 | 30 | $8,318,732 | Sep 2026 | SEC filing, September 29, 2026 |
Other Louisiana loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Walmart Neighborhood Market - Prairieville (Airline), LA | Prairieville, LA | Retail | $103.9M | 4.58% | May 2032 | n/a | n/a | Current |
| Arlington Marketplace | Baton Rouge, LA | Retail | $19.9M | 4.23% | Jan 2032 | 2.04x | 95% | Current |
| Magnolia Square | Houma, LA | Retail | $11.9M | 5.315% | May 2032 | 1.31x | 99% | Current |
| Extra Space Storage - New Orleans | Elmwood, LA | Self storage | $11.7M | 2.962% | Jan 2032 | 3.36x | 93% | Current |
| Melanie Rose Mhp | Lafayette, LA | Manufactured housing | $9.3M | 5.76% | Jun 2032 | n/a | n/a | Current |
| Drusilla Village | Baton Rouge, LA | Retail | $7.8M | 3.83% | Jan 2032 | 1.92x | 95% | Current |
| Lofts at 624 | Shreveport, LA | Mixed use | $6.2M | 4.225% | Feb 2032 | 2.45x | 90% | Current |
| Fox Creek Apartments | Shreveport, LA | Multifamily | $5.4M | 5.48% | Aug 2032 | 1.71x | 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.