Industrial · Elgin, Illinois
Goldcoast Logistics
Goldcoast Logistics is financed with a $12.0M CMBS loan at 6.99% that reaches maturity on October 6, 2033, in 6 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $12,000,000
- Original balance (same notes)
- $12,000,000
- Interest rate
- 6.99% fixed
- Originated
- September 26, 2023
- Maturity
- October 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2033
- Master servicer
- Midland
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred February 6, 2025
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 1425 Madeline Lane, Elgin, IL 60124
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Rentable area
- 61,888 sq ft
- Built
- 2022
- Value at securitization
- $20.1M (Jul 2023)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.82x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.6M | n/a |
Watch flags
Computed from the BBCMS Mortgage Trust 2023-C22 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in every report since August 2026.
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 | $12.0M | 30-59 days delinquent | Yes | n/a | n/a |
| August 2026 | $12.0M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| July 2026 | $12.5M | Current | No | 2.24x | 89% |
| June 2026 | $12.0M | Current | Yes | n/a | n/a |
| May 2026 | $12.0M | 30-59 days delinquent | Yes | n/a | n/a |
| April 2026 | $12.0M | Late payment but less than 30 days delinquent | Yes | 0.24x | 100% |
| March 2026 | $12.0M | Current | Yes | 0.24x | 100% |
| February 2026 | $12.0M | Current | Yes | 0.24x | 100% |
| January 2026 | $12.0M | Current | Yes | -1.35x | n/a |
| December 2025 | $12.0M | Current | Yes | -1.35x | n/a |
| November 2025 | $12.0M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| October 2025 | $12.0M | Current | Yes | 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.
Special-servicing history
- Transferred to the special servicer February 6, 2025, still there.
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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2023-C22 | 19 | $12,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Chicago-Naperville-Elgin loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Woodfield Mall | Schaumburg, IL | Retail | $254.0M | 6.335% | Dec 2033 | 2.47x | 94% | Current |
| Axis Apartments, Chicago | Chicago, IL | Multifamily | $136.0M | 6.88% | Dec 2033 | 1.04x | 92% | Current |
| 100 & 150 South Wacker Drive | Chicago, IL | Office | $100.0M | 6.089% | Feb 2033 | 2.30x | 60% | Current |
| 645 North Michigan Ave | Chicago, IL | Mixed use | $53.7M | 7.62% | Dec 2033 | 1.34x | 90% | Current |
| Village Square, Lake Zurich | Lake Zurich, IL | Retail | $52.5M | 7.07% | May 2033 | n/a | n/a | Current |
| Hyatt Regency Schaumburg | Schaumburg, IL | Hotel | $24.0M | 8.55% | Nov 2033 | n/a | n/a | Current |
| River Forest Medical Offices | River Forest, IL | Office | $22.0M | 8.65% | Oct 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 8052 South Laflin Street | Chicago, IL | Multifamily | $6.6M | 6.556% | Mar 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
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.