Multifamily · Saginaw, Michigan
Country Way Apartments
Country Way Apartments is financed with a $3.3M CMBS loan at 3.756% that reaches maturity on February 6, 2031, in 4 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,264,766
- Original balance (same notes)
- $3,500,000
- Interest rate
- 3.756% fixed
- Originated
- January 26, 2021
- Maturity
- February 6, 2031
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ended
- April 5, 2023
- Prepayment premium ends
- September 5, 2030 (yield maintenance)
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 113 Parkside Court 3625 East Street, Saginaw, MI 48601
- Units, rooms or beds
- 140
- Built
- 1968
- Value at securitization
- $5.7M (Dec 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.06x | 2.55x |
| Occupancy | 90% | 91% |
| Net operating income (annualized from 6 months) | $401K | $1.0M |
| Debt yield | 30.6% |
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-C9 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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
- Net operating income is 149% above the underwritten figure ($1.0M a year against $401K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.06x at securitization to 2.55x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.3M | Current | No | 2.55x | 91% |
| August 2026 | $3.3M | Current | No | 2.55x | 91% |
| July 2026 | $3.3M | Current | No | 2.58x | 96% |
| June 2026 | $3.3M | Current | No | 2.58x | 96% |
| May 2026 | $3.3M | Current | No | 2.58x | 96% |
| April 2026 | $3.3M | Current | No | 1.87x | 98% |
| March 2026 | $3.3M | Current | No | 1.87x | 98% |
| February 2026 | $3.3M | Current | No | 1.83x | 94% |
| January 2026 | $3.3M | Current | No | 1.83x | 94% |
| December 2025 | $3.3M | Current | No | 1.83x | 94% |
| November 2025 | $3.3M | Current | No | 1.83x | 94% |
| October 2025 | $3.3M | Current | No | 1.86x | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2021-C9 | 49 | $3,264,766 | Sep 2026 | SEC filing, September 29, 2026 |
Other Michigan loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Dollar General-Saginaw (e. Washington Road) | Saginaw, MI | Retail | $847K | 4.39% | Jul 2031 | 2.23x | 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.