Retail · Farmington, Michigan
Downtown Farmington Center
Downtown Farmington Center is financed with a $10.4M CMBS loan at 5.05% that reaches maturity on February 1, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $10,396,301
- Original balance (same notes)
- $11,887,500
- Interest rate
- 5.05% fixed
- Originated
- January 25, 2019
- Maturity
- February 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- October 31, 2028
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 23292 Farmington Road, 33171-33199 Grand River Avenue, 23340-23354 Farmington Rel., 23300-23336 Farmington Road, 33305 and 33313 Orchard Street., Farmington, MI 48336
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 96,194 sq ft
- Built
- 1961, renovated 2016
- Largest tenants
- Fresh Thyme Farmers Market; MY SALON SUITE; Tolonen Family Pet Shop LLC
- Value at securitization
- $16.1M (Jul 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.59x | 1.82x |
| Occupancy | 97% | 90% |
| Net operating income (annualized from 6 months) | $1.2M | $1.4M |
| Debt yield | 13.6% |
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-BNK17 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
- Occupancy has fallen from 97% when the loan was securitized to 90%.
- Net operating income is 15% above the underwritten figure ($1.4M a year against $1.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.59x at securitization to 1.82x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.4M | Current | No | 1.82x | 90% |
| August 2026 | $10.4M | Current | No | 1.82x | 90% |
| July 2026 | $10.4M | Current | No | 1.98x | 85% |
| June 2026 | $10.5M | Current | No | 1.98x | 85% |
| May 2026 | $10.5M | Current | No | 1.98x | 85% |
| April 2026 | $10.5M | Current | No | 1.92x | 85% |
| March 2026 | $10.5M | Current | No | 1.92x | 85% |
| February 2026 | $10.5M | Current | No | 1.92x | 85% |
| January 2026 | $10.6M | Current | No | 1.60x | 85% |
| December 2025 | $10.6M | Current | No | 1.60x | 85% |
| November 2025 | $10.6M | Current | No | 1.60x | 85% |
| October 2025 | $10.6M | Current | No | 1.59x | 96% |
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-BNK17 | 22 | $10,396,301 | Sep 2026 | SEC filing, October 1, 2026 |
Other Detroit-Warren-Dearborn loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| First National Building | Detroit, MI | Office | $430.0M | 3.778% | Jan 2029 | n/a | n/a | Current |
| FCA USA - Detroit, MI | Detroit, MI | Industrial | $147.9M | 5.744% | Apr 2029 | n/a | n/a | Current |
| Bedrock Mixed-Use Portfolio | Detroit, MI | Other | $75.0M | 6.385% | Jun 2029 | 1.64x | 83% | Current |
| Garfield Commons | Clinton Township, MI | Multifamily | $75.0M | 7.32% | Jan 2029 | n/a | n/a | Current |
| Amazon Distribution Livonia | Livonia, MI | Industrial | $34.0M | 3.73% | May 2029 | 3.79x | 100% | Current |
| Pointe Plaza | Grosse Pointe Woods, MI | Mixed use | $30.5M | 7.955% | Jul 2029 | 1.61x | 100% | Current |
| Northville Village Shopping Center Phase I | Northville, MI | Retail | $29.5M | 6.50% | Sep 2029 | 1.65x | 98% | Current |
| Waterside Marketplace | Chesterfield, MI | Retail | $25.8M | 6.21% | Nov 2029 | 2.34x | 93% | Current |
All loans maturing in 2029 · All Detroit-Warren-Dearborn 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.