Industrial · Miami, Florida
Aventura Business Park
Aventura Business Park is financed with a $18.0M CMBS loan at 4.63% that reaches maturity on March 6, 2028, in 16 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,000,000
- Original balance (same notes)
- $18,000,000
- Interest rate
- 4.63% fixed
- Originated
- February 9, 2018
- Maturity
- March 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2027
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 20725, 20815 & 20855 Ne 16th Avenue, Miami, FL 33179
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 208,084 sq ft
- Built
- 1989, renovated 2016
- Largest tenants
- Heat Swimwear INC; Salty Weekend; Chai Tees
- Value at securitization
- $29.6M (Dec 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.15x | 4.38x |
| Occupancy | 94% | 93% |
| Net operating income (annualized from 6 months) | $1.8M | $7.5M |
| 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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-B2 filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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 310% above the underwritten figure ($7.5M a year against $1.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.15x at securitization to 4.38x on the latest statements.
- The filing gives Sep 2026 as the lease end date for the largest tenant (Heat Swimwear 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 | $18.0M | Current | No | 4.38x | 93% |
| August 2026 | $18.0M | Current | No | n/a | n/a |
| July 2026 | $18.0M | Current | No | n/a | n/a |
| June 2026 | $18.0M | Current | No | n/a | n/a |
| May 2026 | $18.0M | Current | No | n/a | n/a |
| April 2026 | $18.0M | Current | No | 4.34x | n/a |
| March 2026 | $18.0M | Current | No | 4.47x | 94% |
| February 2026 | $18.0M | Current | No | 4.47x | 94% |
| January 2026 | $18.0M | Current | No | 4.47x | 94% |
| December 2025 | $18.0M | Current | No | 4.47x | 95% |
| November 2025 | $18.0M | Current | No | 4.47x | 95% |
| October 2025 | $18.0M | Current | No | 4.47x | 95% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-B2 | 24 | $18,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aventura Mall | Aventura, FL | Retail | $900.0M | 4.121% | Jul 2028 | n/a | n/a | Current |
| Town Center Aventura | Aventura, FL | Retail | $80.0M | 4.89% | Jul 2028 | 1.71x | 90% | Current |
| Miami Industrial Portfolio | Miami, FL | Industrial | $66.1M | 4.981% | Dec 2028 | 3.32x | 87% | Current |
| Promenade Shops at Aventura | Aventura, FL | Retail | $59.2M | 4.669% | Feb 2028 | 1.47x | 99% | Current |
| AutoNation | Fort Lauderdale, FL | Office | $55.0M | 8.25% | Dec 2028 | n/a | n/a | Current |
| Museum Tower | Miami, FL | Office | $47.0M | 6.546% | May 2028 | 1.66x | 91% | Current |
| Palm Glade Apartments | Belle Glade, FL | Multifamily | $45.0M | 6.685% | Jan 2028 | 1.84x | 98% | Current |
| Causeway Square | North Miami, FL | Mixed use | $43.2M | 5.265% | Nov 2028 | 1.66x | 95% | Current |
All loans maturing in 2028 · All Miami-Fort Lauderdale-West Palm Beach loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.