Retail · Las Vegas, Nevada
Lake Mead Decatur
Lake Mead Decatur is financed with a $12.0M CMBS loan at 2.94% that reaches maturity on July 11, 2031, in 4 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,025,000
- Original balance (same notes)
- $12,025,000
- Interest rate
- 2.94% fixed
- Originated
- July 8, 2021
- Maturity
- July 11, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 10, 2031
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1941 N. Decatur Boulevard, Las Vegas, NV 89108
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 101,096 sq ft
- Built
- 1980
- Largest tenants
- Smart & Final Stores, LLC; Family Dollar, Inc.; Taste Budz, LLC
- Value at securitization
- $18.5M (Apr 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 4.07x | 4.38x |
| Occupancy | 97% | 100% |
| Net operating income (annualized from 6 months) | $1.5M | $3.2M |
| Debt yield | 26.3% |
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 Benchmark 2021-B28 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 97% when the loan was securitized to 100%.
- Net operating income is 117% above the underwritten figure ($3.2M a year against $1.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 4.07x at securitization to 4.38x on the latest statements.
- The filing gives May 2030 as the lease end date for the largest tenant (Smart & Final Stores, LLC), 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 | $12.0M | Current | No | 4.38x | 100% |
| August 2026 | $12.0M | Current | No | n/a | n/a |
| July 2026 | $12.0M | Current | No | n/a | n/a |
| June 2026 | $12.0M | Current | No | n/a | n/a |
| May 2026 | $12.0M | Current | No | n/a | n/a |
| April 2026 | $12.0M | Current | No | 4.18x | n/a |
| March 2026 | $12.0M | Current | No | 4.18x | n/a |
| February 2026 | $12.0M | Current | No | 4.18x | n/a |
| January 2026 | $12.0M | Current | No | 4.28x | 98% |
| December 2025 | $12.0M | Current | No | 4.28x | 98% |
| November 2025 | $12.0M | Current | No | 4.28x | 98% |
| October 2025 | $12.0M | Current | No | 4.34x | 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 |
|---|---|---|---|---|
| Benchmark 2021-B28 Mortgage Trust | 37 | $12,025,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Summerhill Pointe Apartments | Las Vegas, NV | Multifamily | $60.0M | 3.548% | Jun 2031 | 2.63x | 93% | Current |
| Montecito Tower | Las Vegas, NV | Office | $32.5M | 3.64% | Jun 2031 | 1.72x | 83% | Current |
| The Crossing at Lake Mead | Las Vegas, NV | Multifamily | $28.9M | 3.083% | Jul 2031 | 2.53x | 88% | Current |
| 3025 South Las Vegas Boulevard | Las Vegas, NV | Retail | $18.5M | 6.85% | Feb 2031 | 1.38x | 100% | Current |
| Henderson Properties | Henderson, NV | Mixed use | $18.5M | 3.499% | Nov 2031 | 2.51x | 95% | Current |
| Sunset Hills Apartments | Henderson, NV | Multifamily | $16.6M | 3.75% | Mar 2031 | 1.24x | 83% | Current |
| Gardner Plaza | Henderson, NV | Mixed use | $15.5M | 4.38% | Feb 2031 | 2.08x | 95% | Current |
| Beltway Marketplace | Las Vegas, NV | Retail | $14.8M | 6.344% | Sep 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Las Vegas-Henderson-North Las Vegas 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.