Office · Winston Salem, North Carolina
GreenTree Centre I, II & III
GreenTree Centre I, II & III is financed with a $6.5M CMBS loan at 3.65% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,472,854
- Original balance (same notes)
- $6,700,000
- Interest rate
- 3.65% fixed
- Originated
- November 1, 2019
- Maturity
- November 6, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1400 Westgate Center Drive 1551 & 1590 Westbrook Plaza Drive, Winston Salem, NC 27103
- Metro
- Winston-Salem, NC
- Rentable area
- 73,821 sq ft
- Built
- 1994
- Largest tenants
- Novant Medical Group; Christine Bienenfeld, M.D.; Southeast Dental Partners -Inspira Dental Care
- Value at securitization
- $9.9M (Sep 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.01x | 2.28x |
| Occupancy | 93% | 100% |
| Net operating income (annualized from 6 months) | $746K | $1.7M |
| Debt yield | 26.1% |
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 2019-B15 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage down 0.25x or more from securitization
- 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
- Occupancy has risen from 93% when the loan was securitized to 100%.
- Net operating income is 126% above the underwritten figure ($1.7M a year against $746K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.01x at securitization to 2.28x on the latest statements.
- The filing gives Nov 2026 as the lease end date for the largest tenant (Novant Medical Group), 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 | $6.5M | Current | No | 2.28x | 100% |
| August 2026 | $6.5M | Current | No | 1.95x | 100% |
| July 2026 | $6.5M | Current | No | 1.95x | 100% |
| June 2026 | $6.5M | Current | No | 1.95x | 100% |
| May 2026 | $6.5M | Current | No | n/a | n/a |
| April 2026 | $6.5M | Current | No | 2.01x | 94% |
| March 2026 | $6.5M | Current | No | 2.01x | 94% |
| February 2026 | $6.5M | Current | No | 2.00x | 100% |
| January 2026 | $6.6M | Current | No | 2.00x | 100% |
| December 2025 | $6.6M | Current | No | 2.00x | 100% |
| November 2025 | $6.6M | Current | No | n/a | n/a |
| October 2025 | $6.6M | 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 2019-B15 MORTGAGE TRUST | 29 | $6,472,854 | Sep 2026 | SEC filing, September 30, 2026 |
Other Winston-Salem loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Arcadian | Winston-Salem, NC | Multifamily | $74.2M | 6.95% | Sep 2029 | n/a | n/a | Current |
| Mocksville Industrial | Mocksville, NC | Industrial | $17.0M | 7.39% | Nov 2029 | 1.64x | 100% | With the special servicer and 30-59 days delinquent |
| The Nash Building | Winston-Salem, NC | Mixed use | $5.0M | 4.60% | Jun 2029 | 2.37x | 100% | 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.