Office · Lexington, Kentucky
Corporate Plaza, Lexington
Corporate Plaza is financed with a $4.7M CMBS loan at 3.50% 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 with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $4,749,993
- Original balance (same notes)
- $5,280,000
- Interest rate
- 3.50%
- Originated
- n/a
- Maturity
- July 1, 2031
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- KeyBank
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred June 23, 2026
- Workout strategy
- TBD
- Defeasance
- Partly defeased
The property
- Address
- 771 Corporate Drive, Lexington, KY 40503
- Metro
- Lexington-Fayette, KY
- Rentable area
- 120,341 sq ft
- Built
- 1982
- Largest tenants
- United States of America; Golden Law Office PLLC; Walters Richardson PLLC
- Value at securitization
- $8.5M (Apr 2021)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.23x |
| Occupancy | 100% | 77% |
| Net operating income (annualized from 9 months) | n/a | $636K |
| Debt yield | 13.4% |
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 BBCMS Mortgage Trust 2021-C10 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in every report since August 2026.
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 fallen from 100% when the loan was securitized to 77%.
- The filing gives Jul 2026 as the lease end date for the largest tenant (United States of America), 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 | $4.7M | 30-59 days delinquent | Yes | 2.23x | 77% |
| August 2026 | $4.7M | Late payment but less than 30 days delinquent | Yes | 2.23x | 77% |
| July 2026 | $4.7M | Not reported | No | 2.23x | 77% |
| June 2026 | $4.8M | Not reported | No | 2.23x | 77% |
| May 2026 | $4.8M | Not reported | No | 2.23x | 77% |
| April 2026 | $4.8M | Not reported | No | 2.23x | 77% |
| March 2026 | $4.8M | Not reported | No | 2.23x | 74% |
| February 2026 | $4.8M | Not reported | No | 2.23x | 74% |
| January 2026 | $4.8M | Not reported | No | 2.23x | 74% |
| December 2025 | $4.8M | Not reported | No | 2.23x | 74% |
| November 2025 | $4.8M | Not reported | No | 2.28x | 66% |
| October 2025 | $4.8M | Not reported | No | 2.61x | 66% |
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.
Special-servicing history
- Transferred to the special servicer June 23, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2021-C10 | 48 | $4,749,993 | Sep 2026 | SEC filing, September 29, 2026 |
Other Lexington-Fayette loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Thoroughbred Crossing and Tate's Creek | Lexington, KY | Multifamily | $19.0M | 6.64% | Jan 2031 | n/a | n/a | Current |
| Studios 180 | Lexington, KY | Multifamily | $11.5M | 3.786% | Dec 2031 | 2.16x | 92% | Current |
| 5555 Rockwell Road Industrial | Winchester, KY | Industrial | $11.0M | 7.103% | Jun 2031 | n/a | n/a | Current |
| 2416 Merchant Street | Lexington, KY | Industrial | $6.2M | 3.48% | Jan 2031 | 2.52x | 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.