Industrial · Hopewell Junction, New York
iPark 84 Innovation Center
Public CMBS trusts hold $88.0M of the loan on iPark 84 Innovation Center at 3.80% that reaches maturity on May 6, 2031, in 4 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $88,000,000
- Original balance (same notes)
- $88,000,000
- Interest rate
- 3.80% fixed
- Originated
- April 30, 2021
- Maturity
- May 6, 2031
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- CREFI
Status
- Payment status
- Not reported
- Special servicing
- Transferred November 26, 2024, returned January 24, 2025
- Workout strategy
- Resolved
- Modified
- Yes, most recently December 19, 2024
- Defeasance
- Partly defeased
The property
- Address
- 2070 Route 52 700 South Drive and 755 East Drive, Hopewell Junction, NY 12533
- Metro
- Kiryas Joel-Poughkeepsie-Newburgh, NY
- Rentable area
- 938,339 sq ft
- Built
- 1966, renovated 2020
- Largest tenants
- Onsemi; IBM; Studio Storage
- Value at securitization
- $150.5M (Mar 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.11x |
| Occupancy | 92% | 82% |
| Net operating income (annualized from 6 months) | n/a | $7.2M |
| Debt yield | 8.2% |
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-B27 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Occupancy down 10 points or more from securitization
- Largest tenant's lease ends within 12 months
- Modified
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 92% when the loan was securitized to 82%.
- The filing gives Aug 2027 as the lease end date for the largest tenant (Onsemi), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $88.0M | Current | No | 2.11x | 82% |
| August 2026 | $88.0M | Current | No | 2.16x | 92% |
| July 2026 | $88.0M | Current | No | 2.16x | 92% |
| June 2026 | $88.0M | Current | No | 2.16x | 92% |
| May 2026 | $78.5M | Current | No | 1.06x | 92% |
| April 2026 | $88.0M | Current | No | 2.16x | 92% |
| March 2026 | $88.0M | Current | No | 2.16x | 92% |
| February 2026 | $88.0M | Current | No | 2.12x | 92% |
| January 2026 | $88.0M | Current | No | 2.12x | 92% |
| December 2025 | $88.0M | Current | No | 2.12x | 92% |
| November 2025 | $88.0M | Current | No | 2.12x | 92% |
| October 2025 | $88.0M | Current | No | 2.12x | 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.
Special-servicing history
- Transferred to the special servicer November 26, 2024, returned to the master servicer January 24, 2025.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
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-B26 Mortgage Trust | 4 | $60,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BENCHMARK 2021-B27 MORTGAGE TRUST | 16 | $28,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
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.