Retail · Gilbert, Arizona
Gilbert Crossing
Gilbert Crossing is financed with a $7.0M CMBS loan at 4.70% that reaches maturity on May 6, 2029, in 2 years and 6 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $7,011,882
- Original balance (same notes)
- $8,050,000
- Interest rate
- 4.70% fixed
- Originated
- April 17, 2019
- Maturity
- May 6, 2029; extended by modification to May 4, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- February 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred April 20, 2020, returned October 20, 2020
- Workout strategy
- Resolved
- Modified
- Yes, most recently May 6, 2020
- Defeasance
- None reported
The property
- Address
- 835-865 North Gilbert Road, Gilbert, AZ 85234
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 62,576 sq ft
- Built
- 2000
- Largest tenants
- Gilbert, LLC dba Physiq; Alan and Brandee Lepak dba Global Bikes; UMB Bank, NA
- Value at securitization
- $11.3M (Feb 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.83x | 2.48x |
| Occupancy | 98% | 100% |
| Net operating income (annualized from 6 months) | $918K | $2.5M |
| Debt yield | 35.7% |
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 GS Mortgage Securities Trust 2019-GC39 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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
- Net operating income is 173% above the underwritten figure ($2.5M a year against $918K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.83x at securitization to 2.48x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $7.0M | Current | No | 2.48x | 100% |
| September 2026 | $7.0M | Current | No | 2.48x | 100% |
| August 2026 | $7.0M | Current | No | 2.65x | n/a |
| July 2026 | $7.1M | Current | No | 2.65x | n/a |
| June 2026 | $7.1M | Current | No | n/a | n/a |
| May 2026 | $7.1M | Current | No | n/a | n/a |
| April 2026 | $7.1M | Current | No | 2.09x | 100% |
| March 2026 | $7.1M | Current | No | 2.09x | 100% |
| February 2026 | $7.1M | Current | No | 1.94x | 100% |
| January 2026 | $7.1M | Current | No | 1.94x | 100% |
| December 2025 | $7.1M | Current | No | 1.76x | 100% |
| November 2025 | $7.2M | Current | No | 1.76x | 100% |
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.
Special-servicing history
- Transferred to the special servicer April 20, 2020, returned to the master servicer October 20, 2020.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GC39 | 28 | $7,011,882 | Oct 2026 | SEC filing, October 22, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 3900 Camelback | Phoenix, AZ | Office | $37.5M | 3.48% | Dec 2029 | 1.93x | 24% | Current |
| 4041 Central | Phoenix, AZ | Office | $36.7M | 3.66% | Oct 2029 | 1.90x | 71% | Delinquent |
| Embassy Suites Scottsdale | Scottsdale, AZ | Hotel | $35.5M | 5.915% | Feb 2029 | 2.02x | 81% | Current |
| Riverwalk Business Park | Scottsdale, AZ | Office | $34.5M | 7.718% | Dec 2029 | 2.39x | 95% | Current |
| Papago Gateway Center | Tempe, AZ | Office | $34.0M | 8.248% | Mar 2029 | 2.33x | 99% | Current |
| Marriott Phoenix Airport | Phoenix, AZ | Hotel | $33.9M | 4.128% | Dec 2029 | 3.79x | 69% | Current |
| Scottsdale Center | Scottsdale, AZ | Office | $24.4M | 5.145% | Jan 2029 | 2.68x | 98% | Current |
| Greenway Park Plaza | Phoenix, AZ | Retail | $19.0M | 3.80% | Oct 2029 | 2.00x | 97% | Current |
All loans maturing in 2029 · All Phoenix-Mesa-Chandler 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.