Multifamily portfolio, 2 properties · Portage, Michigan
Davis Creek Apartments
This portfolio is financed with a $30.0M CMBS loan at 6.75% that reaches maturity on January 6, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $30,000,000
- Original balance (same notes)
- $30,000,000
- Interest rate
- 6.75% fixed
- Originated
- December 15, 2023
- Maturity
- January 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5419 Meredith Street a/k/a 5427,5441 & 5447 Meredith Street, Portage, MI 49002
- Value at securitization
- $44.1M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $2.8M | n/a |
Watch flags
Computed from the Benchmark 2024-V5 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Davis Creek Apartments | Portage, MI | Multifamily | n/a | n/a |
| Millennia Michigan Multi Portfolio (Canterbury East I & II) | Mt. Pleasant, MI | Multifamily | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.0M | Current | No | n/a | n/a |
| August 2026 | $30.0M | Current | No | n/a | n/a |
| July 2026 | $30.0M | Current | No | n/a | n/a |
| June 2026 | $30.0M | Current | No | n/a | n/a |
| May 2026 | $30.0M | Current | No | n/a | n/a |
| April 2026 | $30.0M | Current | No | 1.23x | 82% |
| March 2026 | $30.0M | Current | No | 0.97x | 82% |
| February 2026 | $30.0M | Current | No | 0.97x | 85% |
| January 2026 | $30.0M | Current | No | 0.97x | 85% |
| December 2025 | $30.0M | Late payment but less than 30 days delinquent | No | 1.01x | 85% |
| November 2025 | $30.0M | Current | No | 1.01x | 85% |
| October 2025 | $30.0M | Payment not received but still in grace period or not yet due | No | 1.01x | 87% |
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 |
|---|---|---|---|---|
| Benchmark 2024-V5 Mortgage Trust | 12 | $30,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other Michigan loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Midlink Business Park | Kalamazoo, MI | Office | $70.0M | 6.113% | Nov 2029 | 1.23x | 87% | Current |
| Candlewyck Apartments | Kalamazoo, MI | Multifamily | $43.0M | 6.65% | Nov 2029 | 1.13x | n/a | Current |
| Nottingham Place Apartments | Kalamazoo, MI | Multifamily | $9.5M | 3.53% | Sep 2029 | 4.08x | 92% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.