Retail · Chesapeake, Virginia
Crossways Shopping Center
Crossways Shopping Center is financed with a $49.5M CMBS loan at 5.47% that reaches maturity on September 1, 2032, in 5 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $49,500,000
- Original balance (same notes)
- $49,500,000
- Interest rate
- 5.47% fixed
- Originated
- August 2, 2022
- Maturity
- September 1, 2032
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ended
- September 30, 2024
- Prepayment premium ends
- April 30, 2032 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1412 Greenbrier Parkway, Chesapeake, VA 23320
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Rentable area
- 355,669 sq ft
- Built
- 1990
- Largest tenants
- Ross Dress for Less; TJ Maxx; DSW Shoe Warehouse Inc
- Value at securitization
- $76.0M (Jul 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.54x | 1.65x |
| Occupancy | 97% | 73% |
| Net operating income (annualized from 6 months) | $5.2M | $4.5M |
| Debt yield | 9.2% |
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 BANK 2022-BNK44 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Occupancy down 10 points 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
- Occupancy has fallen from 97% when the loan was securitized to 73%.
- Net operating income is 12% below the underwritten figure ($4.5M a year against $5.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.54x at securitization to 1.65x on the latest statements.
- The filing gives Jan 2028 as the lease end date for the largest tenant (Ross Dress for Less), 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 | $49.5M | Current | No | 1.65x | 73% |
| August 2026 | $49.5M | Current | No | 1.86x | 89% |
| July 2026 | $49.5M | Current | No | 1.86x | 89% |
| June 2026 | $49.5M | Current | No | 1.86x | 89% |
| May 2026 | $49.5M | Current | No | 1.67x | 89% |
| April 2026 | $49.5M | Current | No | 1.67x | 89% |
| March 2026 | $49.5M | Current | No | 1.67x | 89% |
| February 2026 | $49.5M | Current | No | 1.67x | 96% |
| January 2026 | $49.5M | Current | No | 1.67x | 96% |
| December 2025 | $49.5M | Current | No | 1.67x | 96% |
| November 2025 | $49.5M | Current | No | 1.64x | 89% |
| October 2025 | $49.5M | Current | No | 1.64x | 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 |
|---|---|---|---|---|
| BANK 2022-BNK44 | 5 | $49,500,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| JANAF Shopping Yard | Norfolk, VA | Retail | $60.0M | 5.31% | Jul 2032 | 2.21x | 90% | Current |
| Norfolk Premium Outlets | Norfolk, VA | Retail | $48.1M | 4.50% | Apr 2032 | 2.29x | 87% | Current |
| Autumn Lakes | Newport News, VA | Multifamily | $29.3M | 4.785% | Mar 2032 | n/a | n/a | Current |
| Incubator Road Flex | Hampton, VA | Industrial | $4.5M | 5.38% | Jun 2032 | 1.46x | 97% | 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.