Retail · Asheville, North Carolina
Dreamland Shopping Center
Dreamland Shopping Center is financed with a $20.1M CMBS loan at 3.356% that reaches maturity on August 1, 2031, in 4 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $20,069,437
- Original balance (same notes)
- $20,100,000
- Interest rate
- 3.356% fixed
- Originated
- July 16, 2021
- Maturity
- August 1, 2031
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ended
- September 30, 2023
- Prepayment premium ends
- May 31, 2031 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 83, 89 S Tunnel Rd, Asheville, NC 28805
- Metro
- Asheville, NC
- Rentable area
- 262,397 sq ft
- Built
- 1999
- Largest tenants
- LOWE'S #0617; BEST BUY #0445; GB SHOE WAREHOUSE
- Value at securitization
- $32.5M (May 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.31x | 8.33x |
| Occupancy | 99% | 83% |
| Net operating income (annualized from 3 months) | $2.5M | $5.8M |
| Debt yield | 28.8% |
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 Benchmark 2021-B28 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 99% when the loan was securitized to 83%.
- Net operating income is 135% above the underwritten figure ($5.8M a year against $2.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.31x at securitization to 8.33x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.1M | Current | No | 8.33x | 83% |
| August 2026 | $20.1M | Current | No | 8.33x | 83% |
| July 2026 | $20.1M | Current | No | n/a | n/a |
| June 2026 | $20.1M | Current | No | n/a | n/a |
| May 2026 | $20.1M | Current | No | n/a | n/a |
| April 2026 | $20.1M | Current | No | 1.69x | 83% |
| March 2026 | $20.1M | Current | No | 2.05x | 83% |
| February 2026 | $20.1M | Current | No | 2.05x | 83% |
| January 2026 | $20.1M | Current | No | 2.05x | 83% |
| December 2025 | $20.1M | Current | No | 2.05x | 83% |
| November 2025 | $20.1M | Current | No | 2.05x | 83% |
| October 2025 | $20.1M | Current | No | 1.07x | 97% |
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 2021-B28 Mortgage Trust | 26 | $20,069,437 | Sep 2026 | SEC filing, September 28, 2026 |
Other Asheville loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Lakewood MHC & RV Resort | Flat Rock, NC | Manufactured housing | $4.6M | 3.77% | Aug 2031 | 2.36x | 89% | Current |
| Etowah Estates | Hendersonville, NC | Manufactured housing | $3.3M | 6.64% | Apr 2031 | n/a | n/a | Current |
| Cvs Mars Hill | Mars Hill, NC | Retail | $2.1M | 4.08% | May 2031 | 2.10x | 100% | 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.