Retail · Birch Run, Michigan
Birch Run Premium Outlets
Public CMBS trusts hold $90.0M of the loan on Birch Run Premium Outlets at 6.46% that reaches maturity on February 1, 2036, in 9 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $90,000,000
- Original balance (same notes)
- $90,000,000
- Interest rate
- 6.46% fixed
- Originated
- January 6, 2026
- Maturity
- February 1, 2036
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- July 31, 2035
- Master servicer
- Trimont LLC
- Originator
- Bank of Montreal, Natixis Real Estate Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 12240 South Beyer Road, Birch Run, MI 48415
- Rentable area
- 593,930 sq ft
- Built
- 1986, renovated 2010
- Largest tenants
- POTTERY BARN; LEE WRANGLER; OLD NAVY
- Value at securitization
- $158.7M (Oct 2025)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.02x | n/a |
| Occupancy | 90% | n/a |
| Net operating income | $13.7M | n/a |
Watch flags
Computed from the BMO 2026-C15 Mortgage Trust 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
- The filing gives Jan 2027 as the lease end date for the largest tenant (POTTERY BARN), before the loan matures. Lenders look hard at that rollover.
The last 8 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $90.0M | Current | No | n/a | n/a |
| August 2026 | $70.0M | Current | No | n/a | n/a |
| July 2026 | $70.0M | Current | No | n/a | n/a |
| June 2026 | $70.0M | Current | No | n/a | n/a |
| May 2026 | $70.0M | Current | No | n/a | n/a |
| April 2026 | $70.0M | Current | No | 2.09x | 90% |
| March 2026 | $55.0M | Current | No | n/a | n/a |
| February 2026 | $55.0M | Payment not received but still in grace period or not yet due | 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
The loan is split into 8 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2026-C14 Mortgage Trust | 3 | $36,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2026-C14 Mortgage Trust | 3A | $18,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Wells Fargo Commercial Mortgage Trust 2026-C66 | 13 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2026-C15 Mortgage Trust | 14A-2-2 | $7,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2026-C15 Mortgage Trust | 14A-3 | $6,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Wells Fargo Commercial Mortgage Trust 2026-C66 | 13A | $5,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2026-C15 Mortgage Trust | 14A-6 | $3,500,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BMO 2026-C15 Mortgage Trust | 14A-5-2 | $3,000,000 | Sep 2026 | SEC filing, October 2, 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.