Manufactured housing portfolio, 2 properties · Indiana
Indiana MHC Portfolio
This portfolio is financed with a $1.8M CMBS loan at 4.516% that reaches maturity on October 1, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $1,775,259
- Original balance (same notes)
- $1,860,000
- Interest rate
- 4.516% fixed
- Originated
- October 1, 2021
- Maturity
- October 1, 2031
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- June 30, 2031
- Master servicer
- Trimont LLC
- Originator
- Bank of America, National Association
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 78
- Value at securitization
- $2.8M (Aug 2021)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.37x | 1.99x |
| Occupancy | 86% | 73% |
| Net operating income | $155K | $225K |
| Debt yield | 12.7% |
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 2021-BNK37 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 86% when the loan was securitized to 73%.
- Net operating income is 45% above the underwritten figure ($225K a year against $155K).
- Debt service coverage moved from 1.37x at securitization to 1.99x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $1.8M | Late payment but less than 30 days delinquent | No | 1.99x | 73% |
| August 2026 | $1.8M | Current | No | 1.99x | 73% |
| July 2026 | $1.8M | Current | No | 1.99x | 73% |
| June 2026 | $1.8M | Current | No | 1.99x | 73% |
| May 2026 | $1.8M | Current | No | 1.79x | 73% |
| April 2026 | $1.8M | Current | No | 1.79x | 73% |
| March 2026 | $1.8M | Current | No | 1.79x | 73% |
| February 2026 | $1.8M | Current | No | 1.79x | 73% |
| January 2026 | $1.8M | Current | No | 1.79x | 73% |
| December 2025 | $1.8M | Current | No | 1.79x | 73% |
| November 2025 | $1.8M | Current | No | 1.93x | 75% |
| October 2025 | $1.8M | Current | No | 1.93x | 75% |
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 2021-BNK37 | 70 | $1,775,259 | Sep 2026 | SEC filing, September 29, 2026 |
Other Indiana loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cambridge Commons | Indianapolis, IN | Multifamily | $134.0M | 3.724% | Nov 2031 | n/a | n/a | Current |
| Soa - E. Washington | Indianapolis, IN | Self storage | $61.5M | 6.007% | Apr 2031 | n/a | n/a | Current |
| Marriott Indianapolis North | Indianapolis, IN | Hotel | $42.8M | 6.979% | Apr 2031 | n/a | n/a | Current |
| Meridian Mark | Carmel, IN | Office | $41.5M | 6.79% | Aug 2031 | n/a | n/a | Current |
| Boston Scientific | Spencer, IN | Industrial | $39.7M | 3.292% | Apr 2031 | 2.78x | 100% | Current |
| Williamsburg North | Indianapolis, IN | Multifamily | $37.5M | 6.33% | Feb 2031 | n/a | n/a | Current |
| Midwest Trade Center | Westville, IN | Industrial | $27.9M | 3.18% | Oct 2031 | 3.74x | 89% | Current |
| One & Two River Crossing | Indianapolis, IN | Office | $22.8M | 3.289% | Sep 2031 | 3.92x | 98% | 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.