Retail · Traverse City, Michigan
Grand Traverse Crossing
Grand Traverse Crossing is financed with a $22.0M CMBS loan at 4.86% that reaches maturity on June 6, 2029, in 2 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,028,405
- Original balance (same notes)
- $24,300,000
- Interest rate
- 4.86% fixed
- Originated
- May 10, 2019
- Maturity
- June 6, 2029
- Payments
- Interest only for 18 months, then amortizing
- Prepayment lockout ends
- February 5, 2029
- Master servicer
- Trimont LLC
- Originator
- BSPRT CMBS Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2632 Crossing Circle, Traverse City, MI 49684
- Rentable area
- 249,196 sq ft
- Built
- 1996, renovated 2015
- Largest tenants
- Home Depot; Books a Million; Staples
- Value at securitization
- $34.4M (Apr 2019)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.48x | 1.68x |
| Occupancy | 100% | 99% |
| Net operating income | $2.3M | $2.6M |
| Debt yield | 11.7% |
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 Wells Fargo Commercial Mortgage Trust 2019-C52 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
- Net operating income is 13% above the underwritten figure ($2.6M a year against $2.3M).
- Debt service coverage moved from 1.48x at securitization to 1.68x on the latest statements.
- The filing gives Jan 2027 as the lease end date for the largest tenant (Home Depot), 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 | $22.0M | Current | No | 1.68x | 99% |
| August 2026 | $22.1M | Current | No | 1.68x | 99% |
| July 2026 | $22.1M | Current | No | 1.68x | 99% |
| June 2026 | $22.1M | Current | No | 1.84x | 99% |
| May 2026 | $22.2M | Current | No | 1.84x | 99% |
| April 2026 | $22.2M | Current | No | 1.84x | 99% |
| March 2026 | $22.2M | Current | No | 1.84x | 99% |
| February 2026 | $22.3M | Current | No | 1.84x | 99% |
| January 2026 | $22.3M | Current | No | 1.84x | 99% |
| December 2025 | $22.4M | Current | No | 1.84x | 99% |
| November 2025 | $22.4M | Current | No | 1.84x | 99% |
| October 2025 | $22.4M | Current | No | 1.68x | 99% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C52 | 12 | $22,028,405 | Sep 2026 | SEC filing, September 29, 2026 |
Other Michigan loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 400 West Front Street II | Traverse City, MI | Mixed use | $1.9M | 4.79% | May 2029 | 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.