Manufactured housing portfolio, 7 properties · Clayton, North Carolina
Massengills MHC
This portfolio is financed with a $12.4M CMBS loan at 4.10% that reaches maturity on May 1, 2031, in 4 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,432,163
- Original balance (same notes)
- $12,950,000
- Interest rate
- 4.10% fixed
- Originated
- April 19, 2021
- Maturity
- May 1, 2031
- Payments
- Interest only for 36 months, then amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- KeyBank
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4414 Us-70 Bus, Clayton, NC 27520
- Metro
- Raleigh-Cary, NC
- Value at securitization
- $18.5M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | n/a | $1.8M |
| Debt yield | 14.4% |
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-L5 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 |
|---|---|---|---|---|
| Massengills MHC | Clayton, NC | Mobile Home Park | 99% | 2.14x |
| Twin Branch MHC | Burlington, NC | Mobile Home Park | 98% | 2.55x |
| Brookhaven MHC | Washington, PA | Mobile Home Park | 94% | 2.09x |
| Hannibal MHC | Cranberry Township, PA | Mobile Home Park | 96% | 1.30x |
| Whispering Pines | Pataskala, OH | Mobile Home Park | 89% | 3.07x |
| Avalon MHC | Columbus, OH | Mobile Home Park | 97% | 3.67x |
| Leisure Park MHC | Kannapolis, NC | Mobile Home Park | 98% | 2.43x |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.4M | Not reported | No | 2.14x | 99% |
| August 2026 | $12.5M | Not reported | No | 2.14x | 95% |
| July 2026 | $12.5M | Not reported | No | 2.14x | 95% |
| June 2026 | $12.5M | Not reported | No | 2.20x | 95% |
| May 2026 | $12.5M | Not reported | No | 2.14x | 95% |
| April 2026 | $12.5M | Not reported | No | 2.14x | 95% |
| March 2026 | $12.5M | Not reported | No | 2.04x | 95% |
| February 2026 | $12.6M | Not reported | No | 2.04x | 95% |
| January 2026 | $12.6M | Not reported | No | 2.04x | 95% |
| December 2025 | $12.6M | Not reported | No | 3.54x | 100% |
| November 2025 | $12.6M | Not reported | No | 2.03x | 95% |
| October 2025 | $12.6M | Not reported | No | 2.03x | 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-L5 | 19 | $12,432,163 | Sep 2026 | SEC filing, October 2, 2026 |
Other Raleigh-Cary loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Forty 540 Ii | Morrisville, NC | Office | $30.7M | 6.877% | Feb 2031 | n/a | n/a | Current |
| Turner Farms Self Storage | Garner, NC | Self storage | $8.1M | 3.35% | Aug 2031 | 2.21x | 98% | Current |
| Storage Max - Holly Spring | Holly Springs, NC | Self storage | $6.5M | 3.181% | Sep 2031 | 2.84x | 87% | Current |
| Excess Self Storage | Knightdale, NC | Self storage | $5.7M | 3.615% | Jan 2031 | 2.20x | 82% | Current |
| Storage Max Brentwood | Raleigh, NC | Self storage | $3.7M | 4.155% | Apr 2031 | 3.77x | 87% | Current |
| Rvacation Rv Park | Selma, NC | Manufactured housing | $3.3M | 3.709% | Aug 2031 | 8.74x | 100% | 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.