Manufactured housing · Corpus Christi, Texas
Marina Village
Marina Village is financed with a $4.3M CMBS loan at 4.92% that reaches maturity on April 1, 2032, in 5 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,331,559
- Original balance (same notes)
- $4,650,000
- Interest rate
- 4.92% fixed
- Originated
- March 25, 2022
- Maturity
- April 1, 2032
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- January 31, 2032
- Master servicer
- KeyBank National Association
- Originator
- KeyBank National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 229 NAS Dr, Corpus Christi, TX 78418
- Units, rooms or beds
- 167
- Built
- 1966, renovated 2002
- Value at securitization
- $9.2M (Mar 2022)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.54x | 1.27x |
| Occupancy | 78% | 49% |
| Net operating income | $458K | $378K |
| Debt yield | 8.7% |
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 BMO 2022-C2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
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 78% when the loan was securitized to 49%.
- Net operating income is 17% below the underwritten figure ($378K a year against $458K).
- Debt service coverage moved from 1.54x at securitization to 1.27x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.3M | Current | No | 1.27x | 49% |
| August 2026 | $4.3M | Current | No | 1.27x | 49% |
| July 2026 | $4.3M | Current | No | n/a | n/a |
| June 2026 | $4.4M | Current | No | n/a | n/a |
| May 2026 | $4.4M | Current | No | n/a | n/a |
| April 2026 | $4.4M | Late payment but less than 30 days delinquent | No | 1.45x | 81% |
| March 2026 | $4.4M | Current | No | 1.45x | 81% |
| February 2026 | $4.4M | Current | No | 1.45x | 81% |
| January 2026 | $4.4M | Current | No | 1.45x | 81% |
| December 2025 | $4.4M | Current | No | 1.51x | 81% |
| November 2025 | $4.4M | Current | No | 1.51x | 81% |
| October 2025 | $4.4M | Current | No | 1.51x | 81% |
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 |
|---|---|---|---|---|
| BMO 2022-C2 Mortgage Trust | 34 | $4,331,559 | Sep 2026 | SEC filing, October 2, 2026 |
Other Texas loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Dallas Design District | TX | Other | $130.3M | 4.577% | Mar 2032 | n/a | n/a | Current |
| Katy Mills | Katy, TX | Retail | $123.0M | 5.767% | Aug 2032 | 3.63x | 93% | Current |
| The Kirby Collection | Houston, TX | Mixed use | $95.7M | 2.94% | Jan 2032 | 4.64x | 86% | Current |
| Providence at Memorial | Houston, TX | Multifamily | $76.0M | 6.307% | Jun 2032 | n/a | n/a | Current |
| Plaza on Richmond | Houston, TX | Retail | $44.0M | 5.595% | Aug 2032 | 1.61x | 84% | Current |
| Sabre Headquarters | Southlake, TX | Office | $40.0M | 7.12% | Nov 2032 | 2.08x | 100% | Current |
| 6700 Paredes | Brownsville, TX | Industrial | $33.0M | 3.683% | Feb 2032 | n/a | n/a | Current |
| Total Plaza | Houston, TX | Office | $32.5M | 4.771% | Apr 2032 | 1.37x | 81% | Current |
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.