Office · Cleveland, Ohio
Key Center
Public CMBS trusts hold $25.0M of the loan on Key Center at 5.31% that reaches maturity on February 6, 2027, in 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $24,953,910
- Original balance (same notes)
- $30,000,000
- Interest rate
- 5.31% fixed
- Originated
- January 31, 2017
- Maturity
- February 6, 2027
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- November 5, 2026
- Master servicer
- Midland
- Originator
- CREFI,DBNY,BANA
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred October 27, 2020
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 127 Public Square, Cleveland, OH 44114
- Metro
- Cleveland, OH
- Rentable area
- 1,374,352 sq ft
- Built
- 1991, renovated 2015
- Largest tenants
- KEYBANK NATIONAL ASSOCIATIOl'; BENESCH FRIEDLANDER COPLAN; BROOKFIELD PROPERTIES (FCRT)
- Value at securitization
- $304.1M (Dec 2016)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.37x | 1.85x |
| Occupancy | n/a | 89% |
| Net operating income (annualized from 6 months) | $28.1M | $59.2M |
| Debt yield | 237.3% |
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 CD 2017-CD4 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage down 0.25x or more from securitization
- Matures within 12 months
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 111% above the underwritten figure ($59.2M a year against $28.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.37x at securitization to 1.85x on the latest statements.
- The most recent valuation in the filing is $362.0M (December 1, 2017), against $304.1M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $25.0M | 30-59 days delinquent | Yes | 1.85x | 89% |
| August 2026 | $25.0M | Payment not received but still in grace period or not yet due | Yes | 1.61x | 90% |
| July 2026 | $25.0M | Payment not received but still in grace period or not yet due | Yes | 1.61x | 90% |
| June 2026 | $25.1M | Late payment but less than 30 days delinquent | Yes | 1.61x | 90% |
| May 2026 | $25.2M | Payment not received but still in grace period or not yet due | Yes | n/a | n/a |
| April 2026 | $25.2M | Payment not received but still in grace period or not yet due | Yes | 1.83x | n/a |
| March 2026 | $25.3M | Payment not received but still in grace period or not yet due | Yes | 1.83x | n/a |
| February 2026 | $25.4M | Payment not received but still in grace period or not yet due | Yes | 1.80x | n/a |
| January 2026 | $25.5M | 30-59 days delinquent | Yes | 1.80x | n/a |
| December 2025 | $25.5M | Late payment but less than 30 days delinquent | Yes | 1.80x | n/a |
| November 2025 | $25.6M | Payment not received but still in grace period or not yet due | Yes | 1.80x | n/a |
| October 2025 | $25.7M | Late payment but less than 30 days delinquent | Yes | 1.80x | n/a |
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 October 27, 2020, still there.
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CD 2017-CD4 Mortgage Trust | 7 | $24,953,910 | Sep 2026 | SEC filing, September 25, 2026 |
Other Cleveland loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Key Center Cleveland | Cleveland, OH | Mixed use | $157.3M | 5.31% | Feb 2027 | 1.84x | 89% | With the special servicer |
| One Cleveland Center | Cleveland, OH | Office | $49.9M | 5.30% | Nov 2027 | 1.11x | 69% | With the special servicer |
| HBP Euclid | Euclid, OH | Industrial | $37.5M | 4.66% | Aug 2027 | n/a | n/a | Current |
| Freedom Square II | Independence, OH | Office | $24.0M | 4.15% | Nov 2027 | n/a | n/a | Current |
| Flats East Bank Phase I | Cleveland, OH | Mixed use | $20.6M | 5.885% | Apr 2027 | 0.49x | 54% | With the special servicer |
| Crocker Block K & Detroit | Westlake, OH | Retail | $13.1M | 4.71% | Nov 2027 | n/a | n/a | Current |
| Northern Ohio Industrial Park | Elyria, OH | Industrial | $9.2M | 4.487% | Nov 2027 | 3.22x | 88% | Current |
| 118 Flats Oval | Cleveland, OH | Multifamily | $4.9M | 5.36% | Mar 2027 | 1.10x | 75% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.