Multifamily · Newport News, Virginia
Cottage Grove Apartments
Cottage Grove Apartments is financed with a $43.0M CMBS loan at 6.26% that reaches maturity on March 6, 2030, in 3 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $43,000,000
- Original balance (same notes)
- $43,000,000
- Interest rate
- 6.26% fixed
- Originated
- March 4, 2025
- Maturity
- March 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2029
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 614 Peninsula Drive 5416 Jefferson Ave and 5495 Marshall Ave, Newport News, VA 23605
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Units, rooms or beds
- 552
- Built
- 1948, renovated 2022
- Value at securitization
- $66.8M (Feb 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 1.13x |
| Occupancy | 92% | 92% |
| Net operating income | $3.9M | $3.1M |
| Debt yield | 7.2% |
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 Benchmark 2025-V14 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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 21% below the underwritten figure ($3.1M a year against $3.9M).
- Debt service coverage moved from 1.42x at securitization to 1.13x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $43.0M | Current | No | 1.13x | 92% |
| August 2026 | $43.0M | Current | No | 1.13x | 92% |
| July 2026 | $43.0M | Current | No | 1.13x | 92% |
| June 2026 | $43.0M | Current | No | n/a | n/a |
| May 2026 | $43.0M | Current | No | n/a | n/a |
| April 2026 | $43.0M | Current | No | 1.27x | 93% |
| March 2026 | $43.0M | Current | No | 1.27x | 93% |
| February 2026 | $43.0M | Current | No | n/a | n/a |
| January 2026 | $43.0M | Current | No | n/a | n/a |
| December 2025 | $43.0M | Current | No | n/a | n/a |
| November 2025 | $43.0M | Current | No | n/a | n/a |
| October 2025 | $43.0M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| Benchmark 2025-V14 Mortgage Trust | 8 | $43,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| City Center at Oyster Point | Newport News, VA | Mixed use | $57.8M | 6.82% | Oct 2030 | n/a | n/a | Current |
| Storage Depot - Virginia Beach | Virginia Beach, VA | Self storage | $51.5M | 6.65% | Jan 2030 | 1.23x | 92% | Current |
| Pillars at Great Bridge | Chesapeake, VA | Multifamily | $27.0M | 5.57% | Dec 2030 | n/a | n/a | Current |
| Residence Inn Chesapeake | Chesapeake, VA | Hotel | $26.0M | 7.52% | Aug 2030 | n/a | n/a | Current |
| Peninsula Town Center, Hampton (2030 maturity) | Hampton, VA | Office | $16.2M | 4.25% | Jul 2030 | n/a | n/a | With the special servicer |
| Mercury Plaza | Hampton, VA | Retail | $12.5M | 3.06% | Dec 2030 | n/a | n/a | Current |
| Chesapeake | Chesapeake, VA | Industrial | $10.6M | 4.04% | Aug 2030 | 3.54x | 100% | Current |
| Wyndham Garden Norfolk Downtown | Norfolk, VA | Hotel | $8.9M | 7.07% | Oct 2030 | n/a | n/a | Current |
All loans maturing in 2030 · All Virginia Beach-Chesapeake-Norfolk loans
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.