Retail · Butler, Pennsylvania
Butler Crossing
Butler Crossing is financed with a $22.0M CMBS loan at 3.07% that reaches maturity on July 1, 2031, in 4 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,000,000
- Original balance (same notes)
- $22,000,000
- Interest rate
- 3.07% fixed
- Originated
- June 10, 2021
- Maturity
- July 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 28, 2031
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 500, 520, 540, 680, 700, 710-770 Butler Crossing and New-Castle Hindman Roads, Butler, PA 16001
- Metro
- Pittsburgh, PA
- Rentable area
- 201,094 sq ft
- Built
- 2009
- Largest tenants
- Kohl's Deparment Stores Inc.; Ross Dress for Less; Michaels
- Value at securitization
- $35.2M (Apr 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.77x | 4.08x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $2.6M | $2.8M |
| Debt yield | 12.7% |
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 BANK 2021-BNK35 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
- Net operating income is 8% above the underwritten figure ($2.8M a year against $2.6M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.77x at securitization to 4.08x on the latest statements.
- The filing gives Jan 2030 as the lease end date for the largest tenant (Kohl's Deparment Stores Inc.), 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 | $22.0M | Current | No | 4.08x | 100% |
| August 2026 | $22.0M | Current | No | 4.08x | 100% |
| July 2026 | $22.0M | Current | No | 4.04x | 100% |
| June 2026 | $22.0M | Current | No | 4.04x | 100% |
| May 2026 | $22.0M | Current | No | 4.04x | 100% |
| April 2026 | $22.0M | Current | No | 4.13x | 100% |
| March 2026 | $22.0M | Current | No | 4.13x | 100% |
| February 2026 | $22.0M | Current | No | 4.13x | 100% |
| January 2026 | $22.0M | Current | No | 4.13x | 100% |
| December 2025 | $22.0M | Current | No | 4.13x | 100% |
| November 2025 | $22.0M | Current | No | 4.14x | 100% |
| October 2025 | $22.0M | Current | No | 4.14x | 100% |
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 |
|---|---|---|---|---|
| BANK 2021-BNK35 | 28 | $22,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Pittsburgh loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Foster Plaza | Pittsburgh, PA | Office | $85.3M | 3.392% | Jan 2031 | n/a | n/a | Current |
| The Helm on the Allegheny | Pittsburgh, PA | Multifamily | $38.0M | 6.435% | Aug 2031 | n/a | n/a | Current |
| Koppers Building | Pittsburgh, PA | Office | $29.5M | 3.396% | Jul 2031 | 1.45x | 81% | Current |
| 150 Thornhill | Warrendale, PA | Industrial | $23.6M | 3.69% | Jun 2031 | 1.39x | 100% | Current |
| One Smithfield Street | Pittsburgh, PA | Office | $21.7M | 3.618% | Dec 2031 | 2.08x | 100% | Current |
| Chippewa Center | Beaver Falls, PA | Retail | $20.8M | 3.80% | Sep 2031 | n/a | n/a | Current |
| Guardian Storage Shadyside | Pittsburgh, PA | Self storage | $15.7M | 6.013% | Jan 2031 | 1.44x | 86% | Current |
| Washington PA Hotel Portfolio | Washington, PA | Hotel | $15.5M | 7.747% | Jun 2031 | n/a | n/a | 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.