Retail · Glendale, Arizona
Glendale Plaza
Glendale Plaza is financed with a $11.1M CMBS loan at 7.04% that reaches maturity on January 6, 2035, in 8 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $11,053,745
- Original balance (same notes)
- $11,200,000
- Interest rate
- 7.04% fixed
- Originated
- December 10, 2024
- Maturity
- January 6, 2035
- Payments
- Amortizing over 32 years
- Prepayment lockout ends
- October 5, 2034
- Master servicer
- Midland
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4307-4341 West Glendale Avenue, Glendale, AZ 85301
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 68,983 sq ft
- Built
- 1973, renovated 2024
- Largest tenants
- EOS Fitness; Family Dollar; Peter Piper Pizza
- Value at securitization
- $15.9M (Sep 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.22x | 1.23x |
| Occupancy | 100% | 100% |
| Net operating income | $1.1M | $1.1M |
| Debt yield | 9.8% |
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 BBCMS Mortgage Trust 2025-C32 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.1M | Current | No | 1.23x | 100% |
| August 2026 | $11.1M | Current | No | n/a | n/a |
| July 2026 | $11.1M | Current | No | n/a | n/a |
| June 2026 | $11.1M | Current | No | n/a | n/a |
| May 2026 | $11.1M | Current | No | n/a | n/a |
| April 2026 | $11.1M | Current | No | 1.19x | 100% |
| March 2026 | $11.1M | Current | No | 1.19x | 100% |
| February 2026 | $11.1M | Current | No | 1.18x | 100% |
| January 2026 | $11.1M | Current | No | 1.18x | 100% |
| December 2025 | $11.1M | Current | No | 1.18x | 100% |
| November 2025 | $11.1M | Current | No | 1.21x | 100% |
| October 2025 | $11.1M | Current | No | 1.21x | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-C32 | 28 | $11,053,745 | Sep 2026 | SEC filing, September 29, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Renaissance Phoenix Downtown | Phoenix, AZ | Hotel | $55.0M | 5.70% | Nov 2035 | 7.29x | 78% | Current |
| 67th & Camelback | Glendale, AZ | Mixed use | $20.5M | 6.458% | Oct 2035 | n/a | n/a | Current |
| Foothills Park Place Shopping Center | Phoenix, AZ | Retail | $20.0M | 7.365% | Apr 2035 | 2.18x | 100% | Current |
| Mountainview Marketplace | Phoenix, AZ | Retail | $12.3M | 6.955% | Jan 2035 | 1.81x | 93% | Current |
| Storquest - Phoenix | Phoenix, AZ | Self storage | $8.7M | 6.37% | Jun 2035 | 1.50x | 84% | Late, less than 30 days |
| Grandview Shopping Center, Glendale | Glendale, AZ | Retail | $7.3M | 6.594% | Jun 2035 | 2.29x | 100% | Current |
| Storquest - Tempe | Tempe, AZ | Self storage | $5.2M | 6.438% | Jun 2035 | 1.55x | 84% | Current |
| Black Bear Center | Glendale, AZ | Retail | $4.1M | 6.85% | Jun 2035 | 2.54x | 97% | 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.