Retail · Gilbert, Arizona
Gilbert Gateway Towne Center
Gilbert Gateway Towne Center is financed with a $60.0M CMBS loan at 6.70% that reaches maturity on February 6, 2036, in 9 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
- $60,000,000
- Original balance (same notes)
- $60,000,000
- Interest rate
- 6.70% fixed
- Originated
- January 30, 2026
- Maturity
- February 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2035
- 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
- 4684 & 4712 E. Ray Road 5114 S Power Road, Gilbert, AZ 85295
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 459,380 sq ft
- Built
- 2005, renovated 2023
- Largest tenants
- Target Corporation; Ross Dress for Less, Inc.; USA Furnishings Solutions, LLC dba Mega Furniture
- Value at securitization
- $85.3M (Dec 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.36x | 1.21x |
| Occupancy | 97% | 97% |
| Net operating income (annualized from 5 months) | $5.5M | $12.0M |
| Debt yield | 20.1% |
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 2026-B42 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.
What the filing shows
- Net operating income is 117% above the underwritten figure ($12.0M a year against $5.5M; the latest statement covers 5 months, annualized).
- Debt service coverage moved from 1.36x at securitization to 1.21x on the latest statements.
The last 7 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $60.0M | Current | No | 1.21x | 97% |
| August 2026 | $60.0M | Current | No | n/a | n/a |
| July 2026 | $60.0M | Current | No | n/a | n/a |
| June 2026 | $60.0M | Current | No | n/a | n/a |
| May 2026 | $60.0M | Current | No | n/a | n/a |
| April 2026 | $60.0M | Current | No | n/a | n/a |
| March 2026 | $60.0M | 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 |
|---|---|---|---|---|
| Benchmark 2026-B42 Mortgage Trust | 2 | $60,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Arizona Mills | Tempe, AZ | Retail | $107.0M | 6.657% | Jul 2036 | 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.