Industrial · New Iberia, Louisiana
First Solar Distribution
First Solar Distribution is financed with a $24.5M CMBS loan at 6.06% that reaches maturity on August 6, 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
- $24,500,000
- Original balance (same notes)
- $24,500,000
- Interest rate
- 6.06% fixed
- Originated
- July 24, 2026
- Maturity
- August 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2031
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2211 N. Grand Prairie Road, New Iberia, LA 70560
- Rentable area
- 554,024 sq ft
- Built
- 2025
- Largest tenants
- First Solar, Inc.
- Value at securitization
- $58.1M (Jun 2026)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.18x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $3.3M | n/a |
Watch flags
Computed from the Benchmark 2026-V23 Mortgage Trust 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.
The last 2 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $24.5M | Current | No | n/a | n/a |
| August 2026 | $24.5M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
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 2026-V23 Mortgage Trust | 13 | $24,500,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Louisiana loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Energy Centre | New Orleans, LA | Office | $61.0M | 6.61% | Mar 2031 | n/a | n/a | Current |
| 115 Canvasback Drive | Saint Rose, LA | Mixed use | $38.0M | 3.755% | Apr 2031 | n/a | n/a | Current |
| Brookwood Self Storage Portfolio | LA | Self storage | $32.4M | 3.055% | Jun 2031 | 4.08x | 81% | Current |
| Springs at Country Club | Lake Charles, LA | Multifamily | $31.4M | 3.445% | May 2031 | 1.86x | 98% | Current |
| Tanglewood Apartments | Westwego, LA | Multifamily | $30.0M | 3.83% | Nov 2031 | n/a | n/a | Current |
| Metairie MOB Portfolio | LA | Other | $23.1M | 4.635% | Mar 2031 | 1.70x | 76% | Current |
| Parc Gardens | Lafayette, LA | Multifamily | $22.6M | 3.702% | Nov 2031 | 2.81x | 91% | Current |
| Palms at Sunset Lakes | Zachary, LA | Multifamily | $22.2M | 5.85% | Jul 2031 | 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.