Retail · Glen Allen, Virginia
Colonnades West
Colonnades West is financed with a $15.5M CMBS loan at 3.81% that reaches maturity on January 1, 2030, in 3 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $15,509,000
- Original balance (same notes)
- $15,509,000
- Interest rate
- 3.81% fixed
- Originated
- December 30, 2019
- Maturity
- January 1, 2030
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- KeyBank
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 10941 W Broad St, Glen Allen, VA 23060
- Metro
- Richmond, VA
- Rentable area
- 136,082 sq ft
- Built
- 1998
- Largest tenants
- Marshalls of MA Inc.; Golf and Tennis Pro Shop; Ross Stores Inc
- Value at securitization
- $23.1M (Oct 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 3.41x |
| Occupancy | 95% | 100% |
| Net operating income (annualized from 6 months) | n/a | $2.1M |
| Debt yield | 13.3% |
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 Morgan Stanley Capital I Trust 2021-L5 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
- Occupancy has risen from 95% when the loan was securitized to 100%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $15.5M | Not reported | No | 3.41x | 100% |
| August 2026 | $15.5M | Not reported | No | 3.41x | 100% |
| July 2026 | $15.5M | Not reported | No | 2.76x | 99% |
| June 2026 | $15.5M | Not reported | No | 2.76x | 99% |
| May 2026 | $15.5M | Not reported | No | 2.76x | 99% |
| April 2026 | $15.5M | Not reported | No | 2.76x | 99% |
| March 2026 | $15.5M | Not reported | No | 2.76x | 99% |
| February 2026 | $15.5M | Not reported | No | 2.73x | 99% |
| January 2026 | $15.5M | Not reported | No | 2.73x | 99% |
| December 2025 | $15.5M | Not reported | No | 2.73x | 99% |
| November 2025 | $15.5M | Not reported | No | 2.82x | 99% |
| October 2025 | $15.5M | Not reported | No | 2.82x | 99% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L5 | 15 | $15,509,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Richmond loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Marriott Richmond Dual Brand | Richmond, VA | Hotel | $25.8M | 3.40% | Mar 2030 | 3.37x | 71% | Current |
| Stonebridge Shopping Center | Richmond, VA | Retail | $10.3M | 4.36% | Jan 2030 | 1.30x | 83% | Current |
| Cvs Mechanicsville | Mechanicsville, VA | Retail | $2.4M | 4.39% | Feb 2030 | 1.93x | 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.