Multifamily · Bonner Springs, Kansas
Bonner Highlands Phase I
Bonner Highlands Phase I is financed with a $1.7M CMBS loan at 4.85% that reaches maturity on January 1, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $1,729,000
- Original balance (same notes)
- $1,729,000
- Interest rate
- 4.85% fixed
- Originated
- December 21, 2018
- Maturity
- January 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 30, 2028
- Master servicer
- Wells Fargo
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 13132,13140,13144& Kansas Avenue, Bonner Springs, KS 66012
- Metro
- Kansas City, MO-KS
- Units, rooms or beds
- 48
- Built
- 2000
- Value at securitization
- $2.8M (Nov 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.15x | 1.21x |
| Occupancy | 96% | 98% |
| Net operating income (annualized from 3 months) | $183K | $105K |
| Debt yield | 6.0% |
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 Morgan Stanley Capital I Trust 2019-L2 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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 43% below the underwritten figure ($105K a year against $183K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.15x at securitization to 1.21x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $1.7M | Current | No | 1.21x | 98% |
| August 2026 | $1.7M | Current | No | 1.21x | 98% |
| July 2026 | $1.7M | Current | No | 1.21x | 98% |
| June 2026 | $1.7M | Current | No | n/a | n/a |
| May 2026 | $1.7M | Current | No | n/a | n/a |
| April 2026 | $1.7M | Current | No | 0.22x | n/a |
| March 2026 | $1.7M | Current | No | 0.78x | 84% |
| February 2026 | $1.7M | Current | No | 0.78x | 84% |
| January 2026 | $1.7M | Current | No | 0.78x | 84% |
| December 2025 | $1.7M | Current | No | 0.34x | 84% |
| November 2025 | $1.7M | Current | No | 0.34x | 75% |
| October 2025 | $1.7M | Current | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L2 | 50 | $1,729,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Kansas City loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Polsinelli Headquarters | Kansas City, MO | Office | $64.1M | 7.828% | Dec 2029 | 1.52x | 100% | Current |
| Southlake Office Park | Lenexa, KS | Office | $57.0M | 5.126% | Feb 2029 | 2.17x | n/a | Current |
| Magnolia Parc | Overland Park, KS | Multifamily | $30.0M | 4.616% | Nov 2029 | 1.10x | 93% | Current |
| Oak Park Commons | Lenexa, KS | Retail | $27.0M | 6.774% | Jan 2029 | 2.28x | 96% | Current |
| Truman's Marketplace | Grandview, MO | Retail | $20.2M | 5.00% | Jan 2029 | n/a | n/a | Current |
| Century Towers | Kansas City, MO | Mixed use | $20.0M | 5.42% | Mar 2029 | 1.62x | 88% | Current |
| Executive Centre I II III | Overland Park, KS | Office | $15.6M | 3.71% | Sep 2029 | 1.96x | 66% | Current |
| Crown Heights | Gladstone, MO | Multifamily | $13.5M | 3.40% | Nov 2029 | 3.61x | 95% | 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.