Retail · Warren, Michigan
Heritage Village Shopping Center
Heritage Village Shopping Center is financed with a $13.3M CMBS loan at 3.60% that reaches maturity on March 1, 2032, in 5 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
- $13,300,000
- Original balance (same notes)
- $13,300,000
- Interest rate
- 3.60% fixed
- Originated
- February 14, 2022
- Maturity
- March 1, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 31, 2031
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Mortgage Capital Holdings LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 29117 Mound Road, Warren, MI 48092
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 76,238 sq ft
- Built
- 2006
- Largest tenants
- Aldi Inc (Michigan); Amc Warren Llc; Auto Club
- Value at securitization
- $20.8M (Dec 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.97x | 3.18x |
| Occupancy | 94% | 95% |
| Net operating income (annualized from 6 months) | $1.4M | $1.6M |
| 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 BANK 2022-BNK40 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.
What the filing shows
- Net operating income is 8% above the underwritten figure ($1.6M a year against $1.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.97x at securitization to 3.18x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $13.3M | Current | No | 3.18x | 95% |
| August 2026 | $13.3M | Current | No | 3.00x | 95% |
| July 2026 | $0 | Not reported | No | n/a | n/a |
| June 2026 | $13.3M | Current | No | 3.00x | 95% |
| May 2026 | $13.3M | Current | No | 2.95x | 95% |
| April 2026 | $13.3M | Current | No | 2.95x | 95% |
| March 2026 | $13.3M | Current | No | 2.95x | 95% |
| February 2026 | $13.3M | Current | No | 2.95x | 95% |
| January 2026 | $13.3M | Current | No | 2.95x | 95% |
| December 2025 | $13.3M | Current | No | 2.95x | 95% |
| November 2025 | $13.3M | Current | No | 2.95x | 96% |
| October 2025 | $13.3M | Current | No | 2.95x | 96% |
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 |
|---|---|---|---|---|
| BANK 2022-BNK40 | 22 | $13,300,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Detroit-Warren-Dearborn loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Campus Martius | Detroit, MI | Office | $218.0M | 6.02% | Jul 2032 | 1.97x | 82% | Current |
| Midtown Square | Troy, MI | Retail | $76.9M | 4.00% | Mar 2032 | 1.94x | 99% | Current |
| Evergreen | Detroit, MI | Industrial | $59.9M | 5.51% | Aug 2032 | n/a | n/a | Current |
| Brighton Towne Square | Brighton, MI | Mixed use | $40.0M | 5.906% | Jun 2032 | 1.34x | 100% | Current |
| PentaCentre Office | Troy, MI | Office | $32.2M | 5.32% | Jun 2032 | 1.80x | 65% | Current |
| Lakes Medical Center | West Bloomfield, MI | Office | $27.0M | 5.99% | Sep 2032 | 1.78x | 92% | Current |
| Hall Road Crossing | Shelby Township, MI | Retail | $26.4M | 4.12% | Mar 2032 | 1.70x | 100% | Current |
| Woodlands Officentre | Farmington Hills, MI | Office | $14.7M | 7.21% | Nov 2032 | 1.89x | 99% | 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.