Retail · Rochester, Minnesota
Barlow Plaza
Barlow Plaza is financed with a $13.4M CMBS loan at 3.47% that reaches maturity on August 1, 2031, in 4 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $13,374,486
- Original balance (same notes)
- $13,930,000
- Interest rate
- 3.47% fixed
- Originated
- July 23, 2021
- Maturity
- August 1, 2031
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- MSBNA
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1399 6th Street Northwest, Rochester, MN 55901
- Rentable area
- 136,389 sq ft
- Built
- 1969, renovated 2017
- Largest tenants
- Hy-Vee Inc; Hy-Vee Wine & Spirits; ACE Hardware
- Value at securitization
- $20.3M (Mar 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.24x |
| Occupancy | 90% | 96% |
| Net operating income (annualized from 6 months) | n/a | $1.7M |
| Debt yield | 12.6% |
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 Morgan Stanley Capital I Trust 2021-L7 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Largest tenant's lease ends 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 risen from 90% when the loan was securitized to 96%.
- The filing gives Jul 2027 as the lease end date for the largest tenant (Hy-Vee 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 | $13.4M | Not reported | No | 2.24x | 96% |
| August 2026 | $13.4M | Not reported | No | 2.24x | 96% |
| July 2026 | $13.4M | Not reported | No | 2.00x | 89% |
| June 2026 | $13.4M | Not reported | No | 2.00x | 89% |
| May 2026 | $13.5M | Not reported | No | 2.00x | 89% |
| April 2026 | $13.5M | Not reported | No | 1.77x | 89% |
| March 2026 | $13.5M | Not reported | No | 1.99x | 89% |
| February 2026 | $13.5M | Not reported | No | 1.99x | 89% |
| January 2026 | $13.6M | Not reported | No | 1.77x | 90% |
| December 2025 | $13.6M | Not reported | No | 2.07x | 90% |
| November 2025 | $13.6M | Not reported | No | 2.07x | 90% |
| October 2025 | $13.6M | Not reported | No | 2.07x | 99% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L7 | 21 | $13,374,486 | Sep 2026 | SEC filing, October 2, 2026 |
Other Minnesota loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Walgreens - Rochester Mn | Rochester, MN | Retail | $7.0M | 3.53% | Oct 2031 | 2.40x | 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.