Hotel · Lubbock, Texas
Courtyard - Lubbock
Courtyard - Lubbock is financed with a $8.2M CMBS loan at 4.64% that reached maturity on August 6, 2026, 2 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $8,221,507
- Original balance (same notes)
- $8,950,000
- Interest rate
- 4.64% fixed
- Originated
- July 19, 2021
- Maturity
- August 6, 2026
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- February 5, 2026
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred September 2, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 308 Avenue V, Lubbock, TX 79415
- Metro
- Lubbock, TX
- Units, rooms or beds
- 103
- Built
- 2014
- Value at securitization
- $13.6M (Jun 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.14x | 3.26x |
| Occupancy | 79% | 75% |
| Net operating income (annualized from 6 months) | $1.2M | $3.6M |
| Debt yield | 44.3% |
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 Benchmark 2021-B28 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Past maturity
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 79% when the loan was securitized to 75%.
- Net operating income is 207% above the underwritten figure ($3.6M a year against $1.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.14x at securitization to 3.26x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.2M | Non performing matured balloon | Yes | 3.26x | 75% |
| August 2026 | $8.2M | Non performing matured balloon | No | n/a | n/a |
| July 2026 | $8.2M | Current | No | n/a | n/a |
| June 2026 | $8.2M | Current | No | n/a | n/a |
| May 2026 | $8.2M | Current | No | n/a | n/a |
| April 2026 | $8.3M | Current | No | 2.50x | 71% |
| March 2026 | $8.3M | Current | No | 2.50x | 71% |
| February 2026 | $8.3M | Current | No | 2.50x | 71% |
| January 2026 | $8.3M | Current | No | 2.53x | 73% |
| December 2025 | $8.3M | Current | No | 2.53x | 73% |
| November 2025 | $8.3M | Current | No | 2.53x | 73% |
| October 2025 | $8.3M | Current | No | 2.58x | 73% |
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 September 2, 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 |
|---|---|---|---|---|
| Benchmark 2021-B28 Mortgage Trust | 54 | $8,221,507 | Sep 2026 | SEC filing, September 28, 2026 |
Other Lubbock loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Home2 Suites Lubbock | Lubbock, TX | Hotel | $6.4M | 4.69% | Oct 2026 | 1.92x | 70% | 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.