Industrial portfolio, 6 properties · Havard, Illinois
Harvard
Public CMBS trusts hold $81.0M of the loan on this portfolio at 3.716% that reaches maturity on March 6, 2031, in 4 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $81,000,000
- Original balance (same notes)
- $81,000,000
- Interest rate
- 3.716% fixed
- Originated
- February 8, 2021
- Maturity
- March 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 308 South Division Street, Havard, IL 60033
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Value at securitization
- $102.6M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 6 months) | $6.2M | $18.2M |
| Debt yield | 22.4% |
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 2021-B25 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 192% above the underwritten figure ($18.2M a year against $6.2M; the latest statement covers 6 months, annualized).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Harvard | Havard, IL | Warehouse | n/a | n/a |
| Canton | Canton, GA | Warehouse | n/a | n/a |
| Hazelton | Hazelton, PA | Industrial | 100% | 3.36x |
| Oakdale | Oakdale, MN | Warehouse | n/a | n/a |
| Elizabethtown | Elizabethown, KY | Industrial | n/a | n/a |
| Newton | Newton, NC | Industrial | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $81.0M | Current | No | n/a | n/a |
| August 2026 | $81.0M | Current | No | n/a | n/a |
| July 2026 | $81.0M | Current | No | n/a | n/a |
| June 2026 | $81.0M | Current | No | n/a | n/a |
| May 2026 | $81.0M | Current | No | n/a | n/a |
| April 2026 | $81.0M | Current | No | n/a | n/a |
| March 2026 | $81.0M | Current | No | n/a | n/a |
| February 2026 | $81.0M | Current | No | n/a | n/a |
| January 2026 | $81.0M | Current | No | n/a | n/a |
| December 2025 | $81.0M | Current | No | n/a | n/a |
| November 2025 | $81.0M | Current | No | n/a | n/a |
| October 2025 | $81.0M | 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2021-B24 Mortgage Trust | 7 | $60,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Benchmark 2021-B25 Mortgage Trust | 20 | $21,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Chicago-Naperville-Elgin loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One North Wacker | Chicago, IL | Office | $353.0M | 2.719% | Oct 2031 | 4.16x | 91% | Current |
| The Leo | Chicago, IL | Multifamily | $65.0M | 5.85% | Jun 2031 | n/a | n/a | Current |
| Meadowcreek | Melrose Park, IL | Manufactured housing | $60.0M | 5.98% | Apr 2031 | n/a | n/a | Current |
| Willow Glen | Willow Springs, IL | Multifamily | $58.0M | 6.263% | Jan 2031 | 1.06x | 94% | Current |
| Food4Less - Chicago Heights | Chicago Heights, IL | Retail | $47.0M | 3.165% | Jul 2031 | n/a | n/a | Current |
| Somerset I | Alsip, IL | Multifamily | $42.5M | 3.78% | Dec 2031 | n/a | n/a | With the special servicer |
| Mason Multifamily Portfolio | DeKalb, IL | Multifamily | $36.9M | 3.991% | Jul 2031 | 3.05x | 98% | Current |
| Amazon Chicago-Pullman | Chicago, IL | Industrial | $35.5M | 3.489% | Jan 2031 | 3.13x | 100% | Current |
All loans maturing in 2031 · All Chicago-Naperville-Elgin loans
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.