Multifamily portfolio, 3 properties · Texas
Houston-Austin Multifamily Portfolio
This portfolio is financed with a $68.0M CMBS loan at 3.80% that reaches maturity on January 1, 2030, in 3 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $68,000,000
- Original balance (same notes)
- $68,000,000
- Interest rate
- 3.80% fixed
- Originated
- December 16, 2019
- Maturity
- January 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2021
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 671
- Value at securitization
- $100.1M
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.98x | 1.43x |
| Occupancy | 95% | 90% |
| Net operating income (annualized from 6 months) | $5.2M | $3.8M |
| Debt yield | 5.6% |
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 2020-BNK25 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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 95% when the loan was securitized to 90%.
- Net operating income is 27% below the underwritten figure ($3.8M a year against $5.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.98x 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 | $68.0M | Current | No | 1.43x | 90% |
| August 2026 | $68.0M | Current | No | 1.43x | 90% |
| July 2026 | $68.0M | Current | No | 1.47x | 91% |
| June 2026 | $68.0M | Current | No | 1.47x | 94% |
| May 2026 | $68.0M | Current | No | 1.47x | 94% |
| April 2026 | $68.0M | Current | No | 1.47x | 94% |
| March 2026 | $68.0M | Current | No | 1.47x | 94% |
| February 2026 | $68.0M | Current | No | 1.33x | 92% |
| January 2026 | $68.0M | Current | No | 1.33x | 92% |
| December 2025 | $68.0M | Current | No | 1.29x | 92% |
| November 2025 | $68.0M | Current | No | 1.29x | 92% |
| October 2025 | $68.0M | Current | No | 1.29x | 92% |
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 2020-BNK25 | 8 | $68,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Texas loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Kpmg Plaza at Hall Arts | Dallas, TX | Office | $111.7M | 3.41% | Jan 2030 | 2.87x | 99% | Current |
| Caldera Property | Midland, TX | Self storage | $77.1M | 6.135% | Feb 2030 | n/a | n/a | Current |
| USAA Plano | Plano, TX | Office | $63.6M | 3.624% | Sep 2030 | 1.57x | 100% | Current |
| 5712 Old River | Old River Winfree, TX | Self storage | $60.0M | 5.808% | Oct 2030 | n/a | n/a | Current |
| Waterford Grove Apartments | Houston, TX | Multifamily | $60.0M | 6.567% | Mar 2030 | 0.88x | 71% | Delinquent |
| Hotel ZaZa | Houston, TX | Hotel | $58.4M | 3.80% | Mar 2030 | 3.56x | 62% | Current |
| Rayford Square | Spring, TX | Retail | $57.6M | 3.595% | Jan 2030 | n/a | n/a | Current |
| Brass Professional Center | San Antonio, TX | Office | $56.0M | 4.75% | Aug 2030 | 0.78x | 48% | With the special servicer and 90+ days delinquent |
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.