Industrial · Kissimmee, Florida
Danielle's Canal Industrial Development
Danielle's Canal Industrial Development is financed with a $7.8M CMBS loan at 3.70% that reaches maturity on July 6, 2031, in 4 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,780,000
- Original balance (same notes)
- $7,780,000
- Interest rate
- 3.70% fixed
- Originated
- June 30, 2021
- Maturity
- July 6, 2031
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2642 Michigan Avenue, Kissimmee, FL 34744
- Metro
- Orlando-Kissimmee-Sanford, FL
- Rentable area
- 107,795 sq ft
- Built
- 1981
- Largest tenants
- Mohammad T Kiwan; Kite Technology USA Inc; KITE TECHNOLOGY
- Value at securitization
- $13.4M (May 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.51x |
| Occupancy | 98% | 84% |
| Net operating income (annualized from 6 months) | n/a | $151K |
| Debt yield | 1.9% |
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 Morgan Stanley Capital I Trust 2021-L7 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in every report since September 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 98% when the loan was securitized to 84%.
- At 0.51x, the property's reported NOI does not cover its debt service.
- The filing gives Jun 2010 as the lease end date for the largest tenant (Mohammad T Kiwan), 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 | $7.8M | Not reported | No | 0.51x | 84% |
| August 2026 | $7.8M | Not reported | No | 2.52x | 90% |
| July 2026 | $7.8M | Not reported | No | 2.52x | 90% |
| June 2026 | $7.8M | Not reported | No | 2.52x | 90% |
| May 2026 | $7.8M | Not reported | No | 1.43x | 90% |
| April 2026 | $7.8M | Not reported | No | 1.43x | 87% |
| March 2026 | $7.8M | Not reported | No | 1.43x | 87% |
| February 2026 | $7.8M | Not reported | No | 3.50x | 87% |
| January 2026 | $7.8M | Not reported | No | 3.50x | 91% |
| December 2025 | $7.8M | Not reported | No | 3.49x | 91% |
| November 2025 | $7.8M | Not reported | No | 2.48x | 91% |
| October 2025 | $7.8M | Not reported | No | 2.48x | 94% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L7 | 39 | $7,780,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Orlando-Kissimmee-Sanford loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Douglaston Villas & Townhomes | Altamonte Springs, FL | Multifamily | $29.3M | 6.42% | Oct 2031 | n/a | n/a | Current |
| Candlewood Suites Orlando | Orlando, FL | Other | $25.0M | 5.036% | Dec 2031 | 1.24x | 86% | With the special servicer and 90+ days delinquent |
| Orlando Technology Park | Lake Mary, FL | Office | $23.0M | 3.501% | Mar 2031 | 2.35x | 93% | Current |
| Venture & Forsyth | Orlando, FL | Industrial | $20.0M | 3.913% | Apr 2031 | n/a | n/a | Current |
| Cambria Hotel Orlando | Orlando, FL | Hotel | $19.0M | 8.03% | Aug 2031 | n/a | n/a | Current |
| Home2 Suites Lake Mary | Lake Mary, FL | Hotel | $17.0M | 7.096% | Apr 2031 | n/a | n/a | Current |
| Wyndham Kissimmee Celebration - Leased Fee | Kissimmee, FL | Hotel | $13.2M | 4.23% | Apr 2031 | 1.73x | 100% | Current |
| Sovereignty at Winter Park | Winter Park, FL | Multifamily | $12.7M | 6.00% | Jun 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Orlando-Kissimmee-Sanford loans
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.