Multifamily portfolio, 15 properties · Ann Arbor, Michigan
Carleton
Public CMBS trusts hold $33.1M of the loan on this portfolio at 5.01% that reaches its anticipated repayment date on June 6, 2027, in 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
- $33,119,338
- Original balance (same notes)
- $39,500,000
- Interest rate
- 5.01%
- Originated
- May 12, 2017
- Maturity
- June 6, 2027
- Anticipated repayment date
- June 6, 2027 (the rate steps up if the loan is not repaid by then)
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Benefit Street Partners CRE Finance LLC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2976 Cascade Drive, Ann Arbor, MI 48104
- Metro
- Ann Arbor, MI
- Value at securitization
- $80.2M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | n/a | $8.4M |
| Debt yield | 25.4% |
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 CSAIL 2018-CX11 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Matures 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Carleton | Ann Arbor, MI | Multifamily | 94% | 2.63x |
| River Glen | Reynoldsburg, OH | Multifamily | 95% | 1.66x |
| Tabor Ridge | Berea, OH | Multifamily | 96% | 1.59x |
| Ridgewood | Bedford, IN | Multifamily | 95% | 1.75x |
| Foxhaven | Canton, OH | Multifamily | 97% | 2.29x |
| Hayfield | Burlington, KY | Multifamily | 97% | 2.62x |
| Laurel | Ypsilanti, MI | Multifamily | 88% | 2.33x |
| Wood Trail | Newnan, GA | Multifamily | 93% | 2.13x |
| Camellia | Columbus, OH | Multifamily | 91% | 2.89x |
| Ashgrove | Louisville, KY | Multifamily | 92% | 1.59x |
| Slate Run | Bedford, OH | Multifamily | 98% | 1.56x |
| Forsythia | Westerville, OH | Multifamily | 95% | 2.17x |
| Beckford | The Plains, OH | Multifamily | 95% | 2.13x |
| Meadowood | Newburgh, IN | Multifamily | 94% | 1.75x |
| Elmwood | Marietta, GA | Multifamily | 96% | 1.54x |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $33.1M | Current | No | 2.63x | 94% |
| August 2026 | $33.2M | Current | No | 2.63x | 94% |
| July 2026 | $33.3M | Current | No | 2.63x | 93% |
| June 2026 | $33.3M | Current | No | 2.63x | 93% |
| May 2026 | $33.4M | Current | No | 2.63x | 93% |
| April 2026 | $33.5M | Current | No | 2.32x | 93% |
| March 2026 | $33.5M | Current | No | 1.78x | 98% |
| February 2026 | $33.6M | Current | No | 2.32x | 94% |
| January 2026 | $33.7M | Current | No | 2.32x | 94% |
| December 2025 | $33.8M | Current | No | 2.32x | 94% |
| November 2025 | $33.8M | Current | No | 2.32x | 94% |
| October 2025 | $33.9M | Current | No | 2.32x | 97% |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CSAIL 2017-CX10 Commercial Mortgage Trust | 12 | $24,734,695 | Sep 2026 | SEC filing, September 28, 2026 |
| CSAIL 2018-CX11 Commercial Mortgage Trust | 35 | $8,384,643 | Sep 2026 | SEC filing, September 28, 2026 |
Other Ann Arbor loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Spicetree Apartments | Ann Arbor, MI | Multifamily | $39.6M | 4.315% | Dec 2027 | 2.18x | 90% | Current |
| Walgreens - Ann Arbor | Ann Arbor, MI | Retail | $5.9M | 4.816% | Apr 2027 | n/a | n/a | Current |
| Saline Shopping Center | Saline, MI | Retail | $3.0M | 4.55% | Aug 2027 | 1.90x | 100% | Current |
| Arbor Landing Shopping Center | Ann Arbor, MI | Retail | $1.6M | 4.88% | Nov 2027 | 1.58x | 100% | 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.