Multifamily · Clarkston, Georgia
Highland Village Apartments
Highland Village Apartments is financed with a $8.2M CMBS loan at 3.73% that reaches maturity on October 6, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,203,120
- Original balance (same notes)
- $8,500,000
- Interest rate
- 3.73% fixed
- Originated
- October 2, 2019
- Maturity
- October 6, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- AREF
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3890 East Ponce De Leon Avenue, Clarkston, GA 30021
- Metro
- Atlanta-Sandy Springs-Roswell, GA
- Units, rooms or beds
- 134
- Built
- 1967, renovated 2017
- Value at securitization
- $14.3M (Sep 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.85x | 1.43x |
| Occupancy | 98% | 75% |
| Net operating income (annualized from 6 months) | $874K | $682K |
| Debt yield | 8.3% |
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 Morgan Stanley Capital I Trust 2019-L3 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
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 fallen from 98% when the loan was securitized to 75%.
- Net operating income is 22% below the underwritten figure ($682K a year against $874K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.85x at securitization to 1.43x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.2M | Current | No | 1.43x | 75% |
| August 2026 | $8.2M | Current | No | 1.43x | 75% |
| July 2026 | $8.2M | Current | No | 1.52x | 73% |
| June 2026 | $8.2M | Current | No | 1.52x | 73% |
| May 2026 | $8.3M | Current | No | 1.52x | 73% |
| April 2026 | $8.3M | Current | No | 1.87x | 78% |
| March 2026 | $8.3M | Current | No | 1.87x | 78% |
| February 2026 | $8.3M | Current | No | 1.87x | 78% |
| January 2026 | $8.3M | Current | No | 1.87x | 84% |
| December 2025 | $8.3M | Current | No | 1.87x | 84% |
| November 2025 | $8.3M | Current | No | 1.87x | 84% |
| October 2025 | $8.3M | Current | No | 1.94x | 81% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L3 | 36 | $8,203,120 | Sep 2026 | SEC filing, October 2, 2026 |
Other Atlanta-Sandy Springs-Roswell loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Colony Square | Atlanta, GA | Mixed use | $260.0M | 7.375% | Oct 2029 | n/a | n/a | Current |
| Embassy Suites At Centennial Olympic Park | Atlanta, GA | Hotel | $73.0M | 4.59% | Jul 2029 | 1.89x | 74% | Current |
| 1198 Woodland Avenue NE | Atlanta, GA | Multifamily | $66.5M | 6.348% | Aug 2029 | n/a | n/a | Current |
| Wildwood Center | Atlanta, GA | Office | $65.0M | 7.98% | Mar 2029 | 1.45x | 81% | Current |
| Sugarloaf Mills | Lawrenceville, GA | Retail | $62.8M | 8.017% | May 2029 | 3.05x | 87% | Current |
| Westin Atlanta Airport | Atlanta, GA | Hotel | $52.6M | 4.62% | Apr 2029 | n/a | n/a | Current |
| AVR Renaissance Atlanta Airport Gateway Hotel | Atlanta, GA | Hotel | $48.0M | 3.65% | Dec 2029 | n/a | n/a | Current |
| Eleven Seventeen Perimeter | Atlanta, GA | Office | $44.0M | 4.18% | Jul 2029 | 0.59x | 41% | Late, less than 30 days |
All loans maturing in 2029 · All Atlanta-Sandy Springs-Roswell 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.