Retail · Champaign, Illinois
Baytowne Shoppes and Square
Baytowne Shoppes and Square is financed with a $11.5M CMBS loan at 6.97% that reaches maturity on September 1, 2033, in 6 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $11,500,000
- Original balance (same notes)
- $11,500,000
- Interest rate
- 6.97% fixed
- Originated
- August 31, 2023
- Maturity
- September 1, 2033
- Payments
- Interest only for the full term
- 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
- 2033 North Prospect Avenue, Champaign, IL 61822
- Rentable area
- 118,305 sq ft
- Built
- 1993
- Largest tenants
- Petsmart; Staples; Citi Trends Inc.
- Value at securitization
- $18.2M (Jul 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.83x | 1.55x |
| Occupancy | 97% | 89% |
| Net operating income (annualized from 6 months) | $1.5M | $1.3M |
| Debt yield | 11.0% |
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 MSWF Commercial Mortgage Trust 2023-2 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- 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 fallen from 97% when the loan was securitized to 89%.
- Net operating income is 15% below the underwritten figure ($1.3M a year against $1.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.83x at securitization to 1.55x on the latest statements.
- The filing gives Jan 2027 as the lease end date for the largest tenant (Petsmart), 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 | $11.5M | Current | No | 1.55x | 89% |
| August 2026 | $11.5M | Current | No | 1.55x | 89% |
| July 2026 | $11.5M | Current | No | 1.55x | 89% |
| June 2026 | $11.5M | Current | No | 1.51x | 89% |
| May 2026 | $11.5M | Current | No | 1.51x | 89% |
| April 2026 | $11.5M | Current | No | 1.50x | 89% |
| March 2026 | $11.5M | Current | No | 1.50x | 89% |
| February 2026 | $11.5M | Current | No | 1.50x | 89% |
| January 2026 | $11.5M | Current | No | 1.71x | 89% |
| December 2025 | $11.5M | Current | No | 1.71x | 89% |
| November 2025 | $11.5M | Current | No | 1.71x | 89% |
| October 2025 | $11.5M | Current | No | 1.63x | 89% |
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 |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-2 | 23 | $11,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
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.