Retail · Saint Cloud, Minnesota
Division Place
Division Place is financed with a $10.8M CMBS loan at 4.45% that reaches maturity on July 11, 2029, in 2 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
- $10,844,625
- Original balance (same notes)
- $12,450,000
- Interest rate
- 4.45% fixed
- Originated
- June 21, 2019
- Maturity
- July 11, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- September 10, 2021
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2800 & 2930 Division Street, Saint Cloud, MN 56301
- Rentable area
- 127,366 sq ft
- Built
- 1980, renovated 1993
- Largest tenants
- T J Maxx; Dollar Tree; Rent-A-Center
- Value at securitization
- $16.6M (Apr 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.68x | 1.88x |
| Occupancy | 91% | 89% |
| Net operating income (annualized from 3 months) | $1.3M | $1.4M |
| Debt yield | 13.2% |
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 2019-BNK19 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 13% above the underwritten figure ($1.4M a year against $1.3M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.68x at securitization to 1.88x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.8M | Current | No | 1.88x | 89% |
| August 2026 | $10.9M | Current | No | 1.88x | 89% |
| July 2026 | $10.9M | Current | No | 1.88x | 89% |
| June 2026 | $10.9M | Current | No | 1.80x | 87% |
| May 2026 | $10.9M | Current | No | 1.80x | 87% |
| April 2026 | $11.0M | Current | No | 1.80x | 87% |
| March 2026 | $11.0M | Current | No | 1.80x | 87% |
| February 2026 | $11.0M | Current | No | 1.80x | 87% |
| January 2026 | $11.0M | Current | No | 1.80x | 87% |
| December 2025 | $11.0M | Current | No | 1.80x | 87% |
| November 2025 | $11.1M | Current | No | 1.80x | 87% |
| October 2025 | $11.1M | Current | No | 1.80x | 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 |
|---|---|---|---|---|
| BANK 2019-BNK19 | 24 | $10,844,625 | Sep 2026 | SEC filing, September 29, 2026 |
Other Minnesota loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Second Street Shops | Waite Park, MN | Retail | $10.2M | 3.78% | Nov 2029 | 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.