Retail · Nogales, Arizona
Mariposa Shopping Center
Mariposa Shopping Center is financed with a $25.0M CMBS loan at 6.71% that reaches maturity on July 1, 2033, in 6 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
- $25,000,000
- Original balance (same notes)
- $25,000,000
- Interest rate
- 6.71% fixed
- Originated
- June 15, 2023
- Maturity
- July 1, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2033
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Mortgage Capital Holdings LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 204-340 West Mariposa Road, Nogales, AZ 85621
- Rentable area
- 255,574 sq ft
- Built
- 1991
- Largest tenants
- Hobby Lobby; JC Penney Company; Ross
- Value at securitization
- $38.5M (May 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.54x | 1.66x |
| Occupancy | 92% | 94% |
| Net operating income (annualized from 6 months) | $2.6M | $2.8M |
| Debt yield | 11.4% |
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 BANK 2023-BNK46 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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
- Net operating income is 9% above the underwritten figure ($2.8M a year against $2.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.54x at securitization to 1.66x on the latest statements.
- The filing gives Aug 2028 as the lease end date for the largest tenant (Hobby Lobby), 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 | $25.0M | Current | No | 1.66x | 94% |
| August 2026 | $25.0M | Current | No | 1.66x | 94% |
| July 2026 | $25.0M | Current | No | 1.63x | 94% |
| June 2026 | $25.0M | Current | No | 1.63x | 94% |
| May 2026 | $25.0M | Current | No | 1.63x | 94% |
| April 2026 | $25.0M | Current | No | 1.63x | 94% |
| March 2026 | $25.0M | Current | No | 1.49x | 94% |
| February 2026 | $25.0M | Current | No | 1.49x | 94% |
| January 2026 | $25.0M | Current | No | 1.49x | 94% |
| December 2025 | $25.0M | Current | No | 1.49x | 94% |
| November 2025 | $25.0M | Current | No | 1.49x | 94% |
| October 2025 | $25.0M | Current | No | 1.55x | 93% |
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 |
|---|---|---|---|---|
| BANK 2023-BNK46 | 13 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Arizona loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Conair Glendale | Glendale, AZ | Industrial | $100.0M | 6.745% | Jan 2033 | 1.79x | 100% | Current |
| 2805 W Frye Rd | Chandler, AZ | Self storage | $40.0M | 7.072% | Oct 2033 | n/a | n/a | Current |
| 3 Palms Resort | Scottsdale,, AZ | Hotel | $14.9M | 8.57% | Nov 2033 | n/a | n/a | Current |
| Cambria Phoenix Chandler | Chandler, AZ | Hotel | $13.7M | 7.29% | Aug 2033 | 1.91x | 84% | Current |
| Towneplace Suites Glendale | Glendale, AZ | Hotel | $12.5M | 6.90% | Jan 2033 | 3.11x | 84% | Current |
| Continental Shopping Plaza | Green Valley, AZ | Retail | $12.3M | 6.19% | May 2033 | 2.04x | 95% | Current |
| Nogales Plaza | Nogales, AZ | Retail | $7.5M | 6.68% | Oct 2033 | 2.94x | 86% | 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.