Multifamily portfolio, 7 properties · New Haven, Connecticut
Adar New Haven Multifamily Portfolio
This portfolio is financed with a $8.4M CMBS loan at 4.17% that reaches maturity on June 1, 2031, in 4 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $8,404,748
- Original balance (same notes)
- $8,620,000
- Interest rate
- 4.17% fixed
- Originated
- May 7, 2021
- Maturity
- June 1, 2031
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- February 28, 2031
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Mortgage Capital Holdings LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred December 4, 2025
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Units, rooms or beds
- 99
- Value at securitization
- $12.9M (Mar 2021)
Performance
| At securitization | Latest (Jun 2025) | |
|---|---|---|
| DSCR (NOI) | 1.56x | 1.69x |
| Occupancy | 98% | 89% |
| Net operating income (annualized from 6 months) | $785K | $856K |
| Debt yield | 10.2% |
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 2021-BNK34 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 98% when the loan was securitized to 89%.
- Net operating income is 9% above the underwritten figure ($856K a year against $785K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.56x at securitization to 1.69x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| August 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| July 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| June 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| May 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| April 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| March 2026 | $8.4M | 60-89 days delinquent | Yes | 1.69x | 89% |
| February 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| January 2026 | $8.4M | 90+ days delinquent | Yes | 1.69x | 89% |
| December 2025 | $8.4M | 60-89 days delinquent | Yes | 1.69x | 89% |
| November 2025 | $8.4M | 30-59 days delinquent | No | 1.74x | 96% |
| October 2025 | $8.5M | 30-59 days delinquent | No | 1.74x | 96% |
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.
Special-servicing history
- Transferred to the special servicer December 4, 2025, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2021-BNK34 | 26 | $8,404,748 | Sep 2026 | SEC filing, September 29, 2026 |
Other Connecticut loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Greenwich Office Park | Greenwich, CT | Office | $94.0M | 3.257% | Dec 2031 | 2.85x | 84% | Current |
| Pleasant Valley Apartments | Groton, CT | Multifamily | $28.9M | 3.30% | Sep 2031 | 2.44x | 95% | Current |
| 195 Church | New Haven, CT | Office | $25.0M | 3.33% | May 2031 | 2.49x | 82% | Current |
| Wescott Apartments | Stamford, CT | Multifamily | $23.0M | 6.026% | Sep 2031 | n/a | n/a | Current |
| 274 Riverside Ave | Westport, CT | Office | $11.5M | 6.82% | Mar 2031 | n/a | n/a | Current |
| 290 Tunxis Hill | Fairfield, CT | Retail | $11.0M | 3.30% | Aug 2031 | 3.25x | 100% | Current |
| Lafayette Arms Apartments | Hartford, CT | Multifamily | $10.1M | 3.85% | Jul 2031 | 2.06x | 93% | Current |
| 2 Boston Post Road | Orange, CT | Industrial | $10.0M | 3.51% | Mar 2031 | 4.03x | 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.