Retail · Adrian, Michigan
Crossroads Plaza
Crossroads Plaza is financed with a $8.4M CMBS loan at 6.90% that reaches maturity on August 6, 2034, in 7 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,400,000
- Original balance (same notes)
- $8,400,000
- Interest rate
- 6.90% fixed
- Originated
- August 2, 2024
- Maturity
- August 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- May 5, 2034
- Master servicer
- Trimont LLC
- Originator
- AREF2
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1416 South Main Street, Adrian, MI 49221
- Rentable area
- 199,828 sq ft
- Built
- 1990
- Largest tenants
- Family Farm & Home; Staples; Planet Fitness
- Value at securitization
- $14.1M (Jul 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.66x | 1.78x |
| Occupancy | 74% | 74% |
| Net operating income (annualized from 6 months) | $976K | $1.0M |
| Debt yield | 12.5% |
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 Wells Fargo Commercial Mortgage Trust 2024-C63 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 8% above the underwritten figure ($1.0M a year against $976K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.66x at securitization to 1.78x on the latest statements.
- The filing gives Mar 2034 as the lease end date for the largest tenant (Family Farm & Home), 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 | $8.4M | Current | No | 1.78x | 74% |
| August 2026 | $8.4M | Current | No | 1.52x | 74% |
| July 2026 | $8.4M | Current | No | 1.52x | 74% |
| June 2026 | $8.4M | Current | No | 1.55x | 74% |
| May 2026 | $8.4M | Current | No | 1.55x | 74% |
| April 2026 | $8.4M | Current | No | 1.55x | 74% |
| March 2026 | $0 | Not reported | No | n/a | n/a |
| February 2026 | $8.4M | Current | No | 1.66x | 74% |
| January 2026 | $8.4M | Current | No | 1.58x | 74% |
| December 2025 | $8.4M | Current | No | 1.58x | 74% |
| November 2025 | $8.4M | Current | No | 1.58x | 74% |
| October 2025 | $8.4M | Current | No | 1.58x | 74% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2024-C63 | 22 | $8,400,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Michigan loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Ford Motor Co | Monroe, MI | Industrial | $76.7M | 6.103% | Nov 2034 | 2.03x | 100% | Current |
| West Michigan Industrial Portfolio | MI | Industrial | $53.2M | 6.18% | Nov 2034 | 2.22x | 100% | Current |
| Burlington Center | Ann Arbor, MI | Office | $15.0M | 7.10% | Apr 2034 | 1.94x | 85% | Current |
| Staybridge Suites - Ann Arbor, Mi | Ann Arbor, MI | Hotel | $13.8M | 7.42% | Oct 2034 | 1.71x | 73% | Current |
| Hampton Inn & Homewood Suites - Brighton | Brighton, MI | Hotel | $11.4M | 6.78% | Dec 2034 | 1.75x | 63% | Current |
| Holiday Inn Express Wixom | Wixom, MI | Hotel | $8.8M | 6.77% | Jul 2034 | n/a | n/a | Current |
| Hampton Inn Grandville | Grandville, MI | Hotel | $8.6M | 7.00% | Aug 2034 | 1.58x | 66% | Current |
| Westwill Apartments | Detroit, MI | Multifamily | $5.3M | 7.219% | Jun 2034 | n/a | n/a | 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.