Retail · Germantown, Tennessee
Germantown Village Square
Germantown Village Square is financed with a $24.8M CMBS loan at 5.525% that reaches maturity on September 5, 2032, in 5 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $24,830,000
- Original balance (same notes)
- $24,830,000
- Interest rate
- 5.525% fixed
- Originated
- August 24, 2022
- Maturity
- September 5, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 4, 2032
- Master servicer
- Midland Loan Services
- Originator
- 3650 Real Estate Investment Trust 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 7670-7730 Poplar Avenue, Germantown, TN 38138
- Metro
- Memphis, TN-MS-AR
- Built
- 1975, renovated 2000
- Largest tenants
- WEST CLINIC, P.C.; THE TJX COMPANIES, INC; DSW SHOE WARE HOUSE #29061
- Value at securitization
- $37.4M (Jun 2022)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.17x | n/a |
| Occupancy | 91% | n/a |
| Net operating income | $3.0M | n/a |
Watch flags
Computed from the 3650R 2022-PF2 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Largest tenant's lease ends within 12 months
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
- The filing gives Mar 2027 as the lease end date for the largest tenant (WEST CLINIC, P.C.), 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 | $24.8M | Current | No | n/a | n/a |
| August 2026 | $24.8M | Current | No | n/a | n/a |
| July 2026 | $24.8M | Current | No | n/a | n/a |
| June 2026 | $24.8M | Current | No | n/a | n/a |
| May 2026 | $24.8M | Current | No | n/a | n/a |
| April 2026 | $24.8M | Current | No | 2.27x | 90% |
| March 2026 | $24.8M | Current | No | 2.44x | 90% |
| February 2026 | $24.8M | Current | No | n/a | n/a |
| January 2026 | $24.8M | Current | No | n/a | n/a |
| December 2025 | $24.8M | Current | No | n/a | n/a |
| November 2025 | $24.8M | Current | No | n/a | n/a |
| October 2025 | $24.8M | Current | 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 |
|---|---|---|---|---|
| 3650R 2022-PF2 Commercial Mortgage Trust | 10 | $24,830,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Memphis loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Memphis, TN | Memphis, TN | Industrial | $75.0M | 6.117% | Oct 2032 | n/a | n/a | Current |
| 80 Monroe Avenue | Memphis, TN | Office | $40.2M | 5.13% | May 2032 | n/a | n/a | Current |
| ClearHome Self Storage - Sycamore | Collierville, TN | Self storage | $25.0M | 4.02% | Feb 2032 | n/a | n/a | Current |
| Public Storage Cordova | Cordova, TN | Self storage | $19.1M | 3.21% | Jan 2032 | n/a | n/a | Current |
| Thompson Court | Memphis, TN | Multifamily | $12.0M | 3.89% | Jan 2032 | 3.28x | 96% | Current |
| Holiday Inn Express - Memphis, TN | Memphis, TN | Hotel | $6.5M | 5.365% | Apr 2032 | n/a | n/a | Current |
| Walgreens Memphis | Memphis, TN | Retail | $3.4M | 4.37% | Mar 2032 | 1.87x | 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.