Industrial · Indianapolis, Indiana
Franklin Road Distribution Center
Franklin Road Distribution Center is financed with a $18.5M CMBS loan at 5.486% that reaches maturity on December 6, 2028, in 2 years and 1 month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $18,521,638
- Original balance (same notes)
- $19,250,000
- Interest rate
- 5.486% fixed
- Originated
- November 13, 2018
- Maturity
- December 6, 2028
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- September 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- LoanCore Capital Markets LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 221 South Franklin Road, Indianapolis, IN 46219
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Rentable area
- 823,088 sq ft
- Built
- 1972
- Largest tenants
- Dimplex North America Limited; Horner Services, Inc. Wensco of Michigan, Corporation; Balsam Brands
- Value at securitization
- $28.0M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.47x | 2.07x |
| Occupancy | 100% | 84% |
| Net operating income | $1.9M | $2.7M |
| Debt yield | 14.7% |
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 JPMCC Commercial Mortgage Securities Trust 2019-COR4 filing for the reporting period ending October 6, 2026, filed with the SEC October 21, 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 100% when the loan was securitized to 84%.
- Net operating income is 41% above the underwritten figure ($2.7M a year against $1.9M).
- Debt service coverage moved from 1.47x at securitization to 2.07x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $18.5M | Current | No | 2.07x | 84% |
| September 2026 | $18.6M | Late payment but less than 30 days delinquent | No | 2.07x | 84% |
| August 2026 | $18.6M | Current | No | 2.06x | 84% |
| July 2026 | $18.6M | Current | No | 2.06x | 84% |
| June 2026 | $18.6M | Current | No | 2.06x | 84% |
| May 2026 | $18.6M | Current | No | n/a | n/a |
| April 2026 | $18.7M | Current | No | 1.80x | 100% |
| March 2026 | $18.7M | Current | No | 1.80x | 100% |
| February 2026 | $18.7M | Current | No | 1.80x | 100% |
| January 2026 | $18.7M | Payment not received but still in grace period or not yet due | No | 1.64x | 75% |
| December 2025 | $18.7M | Current | No | 1.64x | 75% |
| November 2025 | $18.8M | Current | No | 1.64x | 75% |
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 |
|---|---|---|---|---|
| JPMCC Commercial Mortgage Securities Trust 2019-COR4 | 13 | $18,521,638 | Oct 2026 | SEC filing, October 21, 2026 |
Other Indianapolis-Carmel-Greenwood loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Meridian Plaza | Carmel, IN | Office | $31.5M | 7.67% | Jun 2028 | 1.72x | 74% | Current |
| Castleton Commons and Square | Indianapolis, IN | Retail | $30.8M | 5.605% | Nov 2028 | 1.04x | 76% | With the special servicer and 90+ days delinquent |
| Meridian at North | Indianapolis, IN | Office | $23.9M | 5.076% | Sep 2028 | 0.59x | 65% | Current |
| Villa Del Sol Apartments | Indianapolis, IN | Multifamily | $22.7M | 4.56% | Apr 2028 | 2.96x | 100% | Current |
| Embassy Suites Indianapolis North | Indianapolis, IN | Hotel | $18.1M | 5.30% | Mar 2028 | 0.15x | 73% | Current |
| GRM Indianapolis | Indianapolis, IN | Industrial | $17.0M | 6.26% | May 2028 | 2.01x | 100% | Current |
| Lakeside Pointe At Nora | Indianapolis, IN | Multifamily | $15.2M | 5.98% | Nov 2028 | n/a | n/a | Current |
| Camden Oakes | Indianapolis, IN | Multifamily | $14.4M | 4.91% | Sep 2028 | 1.82x | 96% | Current |
All loans maturing in 2028 · All Indianapolis-Carmel-Greenwood loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.