Retail · Las Vegas, Nevada
Bonanza Square
2332 East Bonanza Road, Las Vegas, NV · Google Maps
Bonanza Square is financed with a $6.5M CMBS loan at 6.315% that reaches maturity on July 6, 2036, in 9 years and 8 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $6,500,000
- Original balance (same notes)
- $6,500,000
- Interest rate
- 6.315% fixed
- Originated
- June 24, 2026
- Maturity
- July 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2036
- Master servicer
- Trimont LLC
- Originator
- Barclays Capital Real Estate Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2332 East Bonanza Road, Las Vegas, NV 89101
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 106,855 sq ft
- Built
- 1966
- Largest tenants
- CARDENAS MARKETS; BEAUTY 2000; MODA LATINA
- Value at securitization
- $21.2M (May 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 3.32x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.4M | n/a |
Comparable loans: retail properties in Las Vegas-Henderson-North Las Vegas, NV, with NOI, occupancy and value.
Watch flags
Computed from the Morgan Stanley Bank of America Merrill Lynch Trust 2026-C36 filing for the reporting period ending October 13, 2026, filed with the SEC October 28, 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
- The filing gives Dec 2030 as the lease end date for the largest tenant (CARDENAS MARKETS), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Non-recourse carveout guarantor and sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Aug 2026.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $2.0M | n/a | |
| Operating expenses | $619K | n/a | |
| Net operating income | $1.4M | n/a | |
| Net cash flow | $1.3M | n/a | |
| Expense ratio | 31.0% | n/a |
From the servicer's Schedule AL report; 106,855 sq ft.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| CARDENAS MARKETS | 41,000 | 38% | Dec 2030 |
| BEAUTY 2000 | 12,120 | 11% | Mar 2035 |
| MODA LATINA | 11,500 | 11% | Dec 2026 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $6.5M | Current | No | n/a | n/a |
| September 2026 | $6.5M | Current | No | n/a | n/a |
| August 2026 | $6.5M | Current | No | 3.13x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Bank of America Merrill Lynch Trust 2026-C36 | 29 | $6,500,000 | Oct 2026 | SEC filing, October 28, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| U-Haul Moving & Storage at Oso Blanca | Las Vegas, NV | Self storage | $46.8M | 6.05% | Aug 2036 | n/a | n/a | Not reported |
| Silverado Ranch Plaza | Las Vegas, NV | Retail | $38.0M | 7.17% | Oct 2036 | n/a | n/a | Current |
| Hampton Inn Tropicana, Las Vegas (matures Nov 2036) | Las Vegas, NV | Hotel | $26.5M | 7.255% | Nov 2036 | n/a | n/a | Current |
| Corporate Center VI | Henderson, NV | Office | $20.5M | 6.23% | Sep 2036 | n/a | n/a | Not reported |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.