Retail · Southfield, Michigan
La Mirage Shopping Center
La Mirage Shopping Center is financed with a $2.8M CMBS loan at 4.87% that reaches maturity on November 11, 2026, this month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $2,806,086
- Original balance (same notes)
- $3,412,500
- Interest rate
- 4.87% fixed
- Originated
- November 10, 2016
- Maturity
- November 11, 2026
- Payments
- Amortizing over 30 years
- Master servicer
- Trimont LLC
- Originator
- WFB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 29555 Northwestern Highway, Southfield, MI 48034
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 38,490 sq ft
- Built
- 1979
- Largest tenants
- Guitar Center stores Inc.; DUO Lounge; Punch Line Comedy Lounge LLC
- Value at securitization
- $4.5M (Oct 2016)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.49x | 2.53x |
| Occupancy | 90% | 100% |
| Net operating income (annualized from 6 months) | $323K | $552K |
| Debt yield | 19.7% |
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 Wells Fargo Commercial Mortgage Trust 2016-C37 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Matures within 12 months
- Largest tenant's lease ends within 12 months
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 risen from 90% when the loan was securitized to 100%.
- Net operating income is 71% above the underwritten figure ($552K a year against $323K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.49x at securitization to 2.53x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $2.8M | Current | No | 2.53x | 100% |
| August 2026 | $2.8M | Current | No | 2.53x | 100% |
| July 2026 | $2.8M | Current | No | 2.45x | 100% |
| June 2026 | $2.8M | Current | No | 2.52x | 100% |
| May 2026 | $2.8M | Current | No | 2.61x | 100% |
| April 2026 | $2.8M | Current | No | 2.61x | 100% |
| March 2026 | $2.8M | Current | No | 2.61x | 100% |
| February 2026 | $2.9M | Current | No | 2.61x | 100% |
| January 2026 | $2.9M | Current | No | 2.61x | 100% |
| December 2025 | $2.9M | Current | No | 2.61x | 100% |
| November 2025 | $2.9M | Current | No | 2.44x | 97% |
| October 2025 | $2.9M | Current | No | 2.44x | 97% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2016-C37 | 48 | $2,806,086 | Sep 2026 | SEC filing, September 29, 2026 |
Other Detroit-Warren-Dearborn loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 3800 Hamlin | Auburn Hills, MI | Office | $24.0M | 3.218% | Nov 2026 | 4.07x | 100% | With the special servicer |
| Seven Mile Crossing | Livonia, MI | Office | $15.9M | 3.86% | Nov 2026 | n/a | n/a | Current |
| Livonia Commons | Livonia, MI | Retail | $14.0M | 4.163% | Oct 2026 | 1.75x | 100% | Current |
| Boulevard Apartments | Auburn Hills, MI | Multifamily | $13.0M | 4.66% | Dec 2026 | 4.40x | 100% | Current |
| 23 Mile Macomb Medical Campus | Macomb, MI | Office | $11.4M | 4.588% | Nov 2026 | n/a | n/a | Current |
| Country Side Plaza | Clinton Township, MI | Retail | $1.1M | 5.29% | Dec 2026 | 2.13x | 89% | Current |
All loans maturing in 2026 · All Detroit-Warren-Dearborn 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.