Mixed use · Brighton, Michigan
Brighton Towne Square
Brighton Towne Square is financed with a $40.0M CMBS loan at 5.906% that reaches maturity on June 6, 2032, in 5 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $40,000,000
- Original balance (same notes)
- $40,000,000
- Interest rate
- 5.906% fixed
- Originated
- May 23, 2022
- Maturity
- June 6, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 5, 2022
- Prepayment premium ends
- January 5, 2032 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 7927 Nemco Way 8001, 8053, 8053, 8055, 8057, 8199 Challis Road, Brighton, MI 48116
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 241,255 sq ft
- Built
- 1997, renovated 2018
- Largest tenants
- Home Depot; UofM; Staples
- Value at securitization
- $65.4M (Apr 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.64x | 1.34x |
| Occupancy | 98% | 100% |
| Net operating income (annualized from 6 months) | $3.9M | $6.5M |
| Debt yield | 16.2% |
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 Citigroup Commercial Mortgage Trust 2022-GC48 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage down 0.25x 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 65% above the underwritten figure ($6.5M a year against $3.9M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.64x at securitization to 1.34x on the latest statements.
- The filing gives Jan 2028 as the lease end date for the largest tenant (Home Depot), 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 | $40.0M | Current | No | 1.34x | 100% |
| August 2026 | $40.0M | Current | No | 1.34x | 100% |
| July 2026 | $40.0M | Current | No | 1.17x | 100% |
| June 2026 | $40.0M | Current | No | 1.17x | 100% |
| May 2026 | $40.0M | Current | No | 1.17x | 100% |
| April 2026 | $40.0M | Current | No | 1.46x | 100% |
| March 2026 | $40.0M | Current | No | 1.46x | 100% |
| February 2026 | $40.0M | Current | No | 1.46x | 100% |
| January 2026 | $40.0M | Current | No | 1.50x | 100% |
| December 2025 | $40.0M | Current | No | 1.50x | 100% |
| November 2025 | $40.0M | Current | No | 1.50x | 100% |
| October 2025 | $40.0M | Current | No | 1.38x | 95% |
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 |
|---|---|---|---|---|
| Citigroup Commercial Mortgage Trust 2022-GC48 | 5 | $40,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Detroit-Warren-Dearborn loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Campus Martius | Detroit, MI | Office | $218.0M | 6.02% | Jul 2032 | 1.97x | 82% | Current |
| Midtown Square | Troy, MI | Retail | $76.9M | 4.00% | Mar 2032 | 1.94x | 99% | Current |
| Evergreen | Detroit, MI | Industrial | $59.9M | 5.51% | Aug 2032 | n/a | n/a | Current |
| PentaCentre Office | Troy, MI | Office | $32.2M | 5.32% | Jun 2032 | 1.80x | 65% | Current |
| Lakes Medical Center | West Bloomfield, MI | Office | $27.0M | 5.99% | Sep 2032 | 1.78x | 92% | Current |
| Hall Road Crossing | Shelby Township, MI | Retail | $26.4M | 4.12% | Mar 2032 | 1.70x | 100% | Current |
| Woodlands Officentre | Farmington Hills, MI | Office | $14.7M | 7.21% | Nov 2032 | 1.89x | 99% | Current |
| Heritage Village Shopping Center | Warren, MI | Retail | $13.3M | 3.60% | Mar 2032 | 3.18x | 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.