Retail · Colorado Springs, Colorado
Citadel Crossing - Colorado Springs
Citadel Crossing - Colorado Springs is financed with a $41.0M CMBS loan at 8.13% that reaches maturity on June 6, 2029, in 2 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
- $41,000,000
- Original balance (same notes)
- $41,000,000
- Interest rate
- 8.13% fixed
- Originated
- May 24, 2024
- Maturity
- June 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 5, 2029
- Master servicer
- Trimont LLC
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 507-749 and 801-975 North Academy Boulevard, Colorado Springs, CO 80909
- Metro
- Colorado Springs, CO
- Rentable area
- 356,912 sq ft
- Built
- 1988
- Largest tenants
- Vintage Stock Inc.; Restaurant Depot; Petsmart
- Value at securitization
- $67.1M (May 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.35x | 1.13x |
| Occupancy | 92% | 93% |
| Net operating income (annualized from 3 months) | $4.6M | $3.8M |
| Debt yield | 9.3% |
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 2024-BNK47 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Largest tenant's lease ends 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.
What the filing shows
- Net operating income is 17% below the underwritten figure ($3.8M a year against $4.6M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.35x at securitization to 1.13x on the latest statements.
- The filing gives Aug 2027 as the lease end date for the largest tenant (Vintage Stock Inc.), before the loan matures. Lenders look hard at that rollover.
The last 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $41.0M | Current | No | 1.13x | 93% |
| August 2026 | $41.0M | Current | No | 1.13x | 93% |
| July 2026 | $41.0M | Current | No | 1.14x | 93% |
| June 2026 | $41.0M | Current | No | 1.14x | 93% |
| April 2026 | $41.0M | Current | No | 1.12x | 93% |
| March 2026 | $41.0M | Current | No | 1.12x | 93% |
| February 2026 | $41.0M | Current | No | 1.12x | 93% |
| January 2026 | $41.0M | Current | No | 1.12x | 93% |
| December 2025 | $41.0M | Current | No | 1.06x | 92% |
| November 2025 | $41.0M | Current | No | 1.06x | 92% |
| October 2025 | $41.0M | Current | No | 1.06x | 92% |
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 2024-BNK47 | 9 | $41,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Colorado Springs loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cheyenne Mountain Resort | Colorado Springs, CO | Hotel | $75.0M | 7.45% | Nov 2029 | 1.47x | 59% | Current |
| Colorado Square | Colorado Springs, CO | Office | $32.2M | 4.10% | Aug 2029 | n/a | n/a | Current |
| DoubleTree Colorado Springs | Colorado Springs, CO | Hotel | $23.7M | 4.90% | May 2029 | 2.66x | 68% | Current |
| Platte Airpark Tech Campus | Colorado Springs, CO | Office | $14.6M | 3.759% | Nov 2029 | 2.69x | 100% | Current |
| Woodmen Corporate Center | Colorado Springs, CO | Office | $8.5M | 4.87% | Feb 2029 | 2.66x | 76% | Current |
| Fillmore Crossing | Colorado Springs, CO | Multifamily | $7.6M | 4.73% | May 2029 | 2.76x | 96% | Current |
| Fairfield Inn & Suites - Colorado Springs North | Colorado Springs, CO | Hotel | $6.3M | 5.10% | Apr 2029 | 0.16x | 55% | Current |
| Fairway Plaza & Markets at Maizeland | Colorado Springs, CO | Retail | $5.6M | 5.70% | Jul 2029 | 1.70x | 90% | 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.