Multifamily · Brecksville, Ohio
Chippewa Place
Chippewa Place is financed with a $5.3M CMBS loan at 7.003% that reaches maturity on May 6, 2029, in 2 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,300,000
- Original balance (same notes)
- $5,300,000
- Interest rate
- 7.003% fixed
- Originated
- April 12, 2024
- Maturity
- May 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 7003 and 7005 Stadium Drive, Brecksville, OH 44141
- Metro
- Cleveland, OH
- Units, rooms or beds
- 102
- Built
- 1987, renovated 2023
- Value at securitization
- $9.0M (Feb 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.66x | 3.40x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.0M | $2.6M |
| Debt yield | 48.7% |
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 BMO 2024-5C4 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 158% above the underwritten figure ($2.6M a year against $1.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.66x at securitization to 3.40x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.3M | Current | No | 3.40x | 100% |
| August 2026 | $5.3M | Current | No | n/a | n/a |
| July 2026 | $5.3M | Current | No | n/a | n/a |
| June 2026 | $5.3M | Current | No | n/a | n/a |
| May 2026 | $5.3M | Current | No | n/a | n/a |
| April 2026 | $5.3M | Current | No | 2.70x | 97% |
| March 2026 | $5.3M | Current | No | 2.70x | 97% |
| February 2026 | $5.3M | Current | No | 2.58x | 100% |
| January 2026 | $5.3M | Current | No | 2.58x | 100% |
| December 2025 | $5.3M | Current | No | 2.58x | 100% |
| November 2025 | $5.3M | Current | No | 2.53x | 100% |
| October 2025 | $5.3M | Current | No | 2.53x | 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 |
|---|---|---|---|---|
| BMO 2024-5C4 Mortgage Trust | 34 | $5,300,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Cleveland loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 16625 Granite Road | Maple Heights, OH | Office | $82.8M | 3.78% | Aug 2029 | n/a | n/a | Current |
| Van Aken District | Shaker Heights, OH | Mixed use | $53.5M | 3.60% | Dec 2029 | 1.74x | 84% | Current |
| Euclid Apartments | Euclid, OH | Multifamily | $53.0M | 7.06% | Feb 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Welleon | Cleveland, OH | Multifamily | $44.6M | 6.23% | Dec 2029 | 1.19x | 94% | Current |
| Us Bank Centre | Cleveland, OH | Office | $31.5M | 5.044% | Jan 2029 | 0.94x | 74% | With the special servicer and 90+ days delinquent |
| Solon Park Apartments | Solon, OH | Multifamily | $28.0M | 6.67% | Jul 2029 | 1.29x | 90% | Current |
| Fifth Third Center | Cleveland, OH | Office | $27.5M | 7.257% | Dec 2029 | 3.00x | 74% | Current |
| Center North | Lakewood, OH | Multifamily | $24.7M | 4.80% | Jun 2029 | 1.21x | 98% | 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.