Office · St. Petersburg, Florida
First Central Tower
First Central Tower is financed with a $45.1M CMBS loan at 3.42% that reaches maturity on February 6, 2031, in 4 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
- $45,106,192
- Original balance (same notes)
- $47,500,000
- Interest rate
- 3.42% fixed
- Originated
- January 13, 2021
- Maturity
- February 6, 2031
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- November 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently September 19, 2022
- Defeasance
- None reported
The property
- Address
- 360 Central Avenue, St. Petersburg, FL 33701
- Metro
- Tampa-St. Petersburg-Clearwater, FL
- Rentable area
- 247,841 sq ft
- Built
- 1984, renovated 2016
- Largest tenants
- Banker Lopez Gassier P.A.; Laid., Inc.; Johnson, Pope, Bokor, Ruppel & Burns, LLP
- Value at securitization
- $72.3M (Nov 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.06x | 3.59x |
| Occupancy | 95% | 91% |
| Net operating income (annualized from 6 months) | $5.0M | $18.4M |
| Debt yield | 40.7% |
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-B23 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Modified
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 95% when the loan was securitized to 91%.
- Net operating income is 264% above the underwritten figure ($18.4M a year against $5.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.06x at securitization to 3.59x on the latest statements.
- The filing gives Jul 2029 as the lease end date for the largest tenant (Banker Lopez Gassier P.A.), 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 | $45.1M | Current | No | 3.59x | 91% |
| August 2026 | $45.2M | Current | No | n/a | n/a |
| July 2026 | $45.3M | Current | No | n/a | n/a |
| June 2026 | $45.3M | Current | No | n/a | n/a |
| May 2026 | $45.4M | Current | No | n/a | n/a |
| April 2026 | $45.5M | Current | No | 2.10x | 91% |
| March 2026 | $45.6M | Current | No | 2.10x | 91% |
| February 2026 | $45.7M | Current | No | 2.10x | 91% |
| January 2026 | $45.7M | Current | No | 2.10x | 91% |
| December 2025 | $45.8M | Current | No | 2.10x | 91% |
| November 2025 | $45.9M | Current | No | 2.10x | 91% |
| October 2025 | $46.0M | Current | No | 2.10x | 91% |
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-B23 MORTGAGE TRUST | 11 | $45,106,192 | Sep 2026 | SEC filing, September 30, 2026 |
Other Tampa-St. Petersburg-Clearwater loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Renaissance Center Park | Tampa, FL | Office | $97.0M | 6.615% | Feb 2031 | n/a | n/a | Current |
| Bahia Apartments | Tampa, FL | Multifamily | $48.0M | 3.97% | Dec 2031 | n/a | n/a | Current |
| Marriott Tampa Westshore | Tampa, FL | Hotel | $46.4M | 6.613% | Jun 2031 | n/a | n/a | Current |
| Ubc (i Ii&iv) | Tampa, FL | Office | $39.8M | 6.65% | Mar 2031 | n/a | n/a | Current |
| Innovo at Waters | Tampa, FL | Multifamily | $35.3M | 5.96% | Apr 2031 | n/a | n/a | Current |
| Morgan Stanley Tower | St. Petersburg, FL | Office | $32.4M | 3.50% | Mar 2031 | n/a | n/a | Current |
| Lofts at River Edge | Tampa, FL | Multifamily | $22.0M | 7.11% | Feb 2031 | n/a | n/a | Late, less than 30 days |
| Tampa Bay Buccaneers Corporate Office Headquarters | Tampa, FL | Office | $21.9M | 3.77% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Tampa-St. Petersburg-Clearwater 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.