Manufactured housing portfolio, 7 properties · New Braunfels, Texas
Lighthouse MHP
This portfolio is financed with a $9.6M CMBS loan at 3.30% that reaches maturity on October 6, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,577,290
- Original balance (same notes)
- $9,750,000
- Interest rate
- 3.30% fixed
- Originated
- September 7, 2021
- Maturity
- October 6, 2031
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5078 fm482, New Braunfels, TX 78132
- Metro
- San Antonio-New Braunfels, TX
- Value at securitization
- $20.4M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 6 months) | n/a | $1.9M |
| Debt yield | 19.4% |
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 Morgan Stanley Capital I Trust 2021-L7 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Lighthouse MHP | New Braunfels, TX | Mobile Home Park | 95% | 3.59x |
| Sun Valley Community MHP | Giddings, TX | Mobile Home Park | 84% | n/a |
| Wayside MHP | New Braunfels, TX | Mobile Home Park | 92% | n/a |
| Pecan Way Community MHP | New Braunfels, TX | Mobile Home Park | 96% | n/a |
| Comal Valley Community MHP | New Braunfels, TX | Mobile Home Park | 100% | n/a |
| Barons Creek Community MHP | Fredericksburg, TX | Mobile Home Park | 97% | n/a |
| Sun Country Community MHP | La Vernia, TX | Mobile Home Park | 83% | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.6M | Not reported | No | 3.59x | 95% |
| August 2026 | $9.6M | Not reported | No | 5.04x | 96% |
| July 2026 | $9.6M | Not reported | No | 5.04x | 96% |
| June 2026 | $9.6M | Not reported | No | 5.04x | 96% |
| May 2026 | $9.6M | Not reported | No | 5.04x | 96% |
| April 2026 | $9.7M | Not reported | No | 5.04x | 96% |
| March 2026 | $9.7M | Not reported | No | n/a | 93% |
| February 2026 | $9.7M | Not reported | No | 5.42x | 96% |
| January 2026 | $9.7M | Not reported | No | 5.42x | 96% |
| December 2025 | $9.7M | Not reported | No | 5.42x | 96% |
| November 2025 | $9.7M | Not reported | No | 5.40x | 96% |
| October 2025 | $9.8M | Not reported | No | 5.40x | 95% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L7 | 34 | $9,577,290 | Sep 2026 | SEC filing, October 2, 2026 |
Other San Antonio-New Braunfels loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Park North | San Antonio, TX | Retail | $83.4M | 5.923% | Jan 2031 | n/a | n/a | Current |
| Aviator at Brooks | San Antonio, TX | Multifamily | $29.8M | 6.19% | Feb 2031 | n/a | n/a | Current |
| New Braunfels Market Place | New Braunfels, TX | Retail | $23.4M | 3.17% | Sep 2031 | 5.55x | 94% | Current |
| Residence Inn Property | San Antonio, TX | Hotel | $19.8M | 7.513% | Jan 2031 | n/a | n/a | Late, less than 30 days |
| The Mosaic | San Antonio, TX | Multifamily | $15.0M | 3.25% | Sep 2031 | 1.59x | 83% | Current |
| Accenture San Antonio | San Antonio, TX | Office | $14.8M | 3.17% | Jun 2031 | 3.49x | 100% | Current |
| Triangle Shopping Center, Universal City | Universal City, TX | Retail | $11.2M | 3.829% | Nov 2031 | 2.62x | 100% | Current |
| Aggie Business Park | New Braunfels, TX | Industrial | $10.7M | 6.126% | Jan 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All San Antonio-New Braunfels 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.