Retail · Colorado Springs, Colorado
Academy Place
Academy Place is financed with a $5.8M CMBS loan at 5.47% that reaches maturity on November 1, 2034, in 8 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,800,000
- Original balance (same notes)
- $5,800,000
- Interest rate
- 5.47% fixed
- Originated
- October 2, 2024
- Maturity
- November 1, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 31, 2026
- Prepayment premium ends
- July 31, 2034 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 5110-5172 North Academy Boulevard, Colorado Springs, CO 80918
- Metro
- Colorado Springs, CO
- Rentable area
- 83,878 sq ft
- Built
- 1980
- Largest tenants
- O'Reilly Auto Parts; Chuck E. Cheese; Rodeo Dental & Orthodontics
- Value at securitization
- $12.0M (Aug 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.78x | 3.70x |
| Occupancy | 88% | 88% |
| Net operating income (annualized from 6 months) | $895K | $2.4M |
| Debt yield | 41.4% |
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 2025-BNK49 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 168% above the underwritten figure ($2.4M a year against $895K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.78x at securitization to 3.70x on the latest statements.
- The filing gives Jun 2033 as the lease end date for the largest tenant (O'Reilly Auto Parts), 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 | $5.8M | Current | No | 3.70x | 88% |
| August 2026 | $5.8M | Current | No | 3.70x | 88% |
| July 2026 | $5.8M | Current | No | n/a | n/a |
| June 2026 | $5.8M | Current | No | n/a | n/a |
| May 2026 | $5.8M | Current | No | n/a | n/a |
| April 2026 | $5.8M | Current | No | 2.63x | 88% |
| March 2026 | $5.8M | Current | No | 2.63x | 88% |
| February 2026 | $5.8M | Current | No | 2.91x | 88% |
| January 2026 | $5.8M | Current | No | 2.91x | 88% |
| December 2025 | $5.8M | Current | No | 2.91x | 88% |
| November 2025 | $5.8M | Current | No | 2.91x | 88% |
| October 2025 | $5.8M | Current | No | n/a | n/a |
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 2025-BNK49 | 33 | $5,800,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Colorado Springs loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Colorado Springs Self Storage South | Colorado Springs, CO | Self storage | $4.5M | 5.47% | Nov 2034 | 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.