Multifamily · Cahokia Heights, Illinois
Cottonwood Village Apartments
Cottonwood Village Apartments is financed with a $3.2M CMBS loan at 7.51% that reaches maturity on May 1, 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
- $3,200,000
- Original balance (same notes)
- $3,200,000
- Interest rate
- 7.51% fixed
- Originated
- April 23, 2024
- Maturity
- May 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 31, 2026
- Prepayment premium ends
- October 31, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 4053 Mississippi Avenue, Cahokia Heights, IL 62206
- Metro
- St. Louis, MO-IL
- Units, rooms or beds
- 88
- Built
- 1983, renovated 2024
- Value at securitization
- $6.0M (Mar 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.78x | 0.81x |
| Occupancy | 97% | 85% |
| Net operating income (annualized from 3 months) | $435K | $198K |
| Debt yield | 6.2% |
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 BANK5 2024-5YR8 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 97% when the loan was securitized to 85%.
- Net operating income is 54% below the underwritten figure ($198K a year against $435K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.78x at securitization to 0.81x on the latest statements.
- At 0.81x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.2M | Current | No | 0.81x | 85% |
| August 2026 | $3.2M | Current | No | 0.81x | 85% |
| July 2026 | $3.2M | Current | No | 1.54x | 89% |
| June 2026 | $3.2M | Current | No | 1.54x | 89% |
| May 2026 | $3.2M | Current | No | 1.72x | 86% |
| April 2026 | $3.2M | Current | No | 1.72x | 86% |
| March 2026 | $3.2M | Current | No | 1.72x | 86% |
| February 2026 | $3.2M | Current | No | 1.72x | 86% |
| January 2026 | $3.2M | Current | No | 1.53x | 89% |
| December 2025 | $3.2M | Current | No | 1.53x | 89% |
| November 2025 | $3.2M | Current | No | 1.53x | 89% |
| October 2025 | $3.2M | Current | No | 1.53x | 89% |
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 |
|---|---|---|---|---|
| BANK5 2024-5YR8 | 31 | $3,200,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other St. Louis loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 5301 Old Baumgartner Road | St Louis, MO | Industrial | $60.0M | 5.176% | Oct 2029 | n/a | n/a | Current |
| Chroma Apartments | St. Louis, MO | Multifamily | $50.0M | 3.962% | Nov 2029 | 1.34x | 80% | Current |
| Norwood Court Apartments | St. Louis, MO | Multifamily | $41.3M | 6.318% | Aug 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 575 Maryville | Town & Country, MO | Office | $35.0M | 4.822% | Jan 2029 | 2.27x | 86% | Current |
| Tribeca Apartments | St. Louis, MO | Multifamily | $24.2M | 3.49% | Nov 2029 | 1.98x | 93% | Current |
| Mark Twain Village | St. Charles, MO | Retail | $19.6M | 4.13% | Jun 2029 | 1.80x | 95% | Current |
| Capital at St. Charles | Saint Charles, MO | Multifamily | $16.5M | 3.84% | Aug 2029 | 3.64x | 96% | Current |
| Magnolia Hotel St. Louis | St. Louis, MO | Hotel | $14.4M | 4.77% | May 2029 | -1.29x | 59% | 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.