Retail · McAllen, Texas
McAllen Retail Portfolio
McAllen Retail Portfolio is financed with a $7.9M CMBS loan at 5.10% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,880,310
- Original balance (same notes)
- $9,000,000
- Interest rate
- 5.10% fixed
- Originated
- January 17, 2019
- Maturity
- February 6, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- November 5, 2028
- Master servicer
- Midland
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4901 & 5025 W Expressway 83, McAllen, TX 78503
- Rentable area
- 75,502 sq ft
- Built
- 2010
- Largest tenants
- China Sea Buffet; Easy Eights; Beauty Suites
- Value at securitization
- $18.9M (Dec 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.06x | 1.53x |
| Occupancy | 82% | 89% |
| Net operating income (annualized from 3 months) | $1.2M | $912K |
| Debt yield | 11.6% |
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 2019-L2 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% 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 risen from 82% when the loan was securitized to 89%.
- Net operating income is 24% below the underwritten figure ($912K a year against $1.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.06x at securitization to 1.53x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.9M | Current | No | 1.53x | 89% |
| August 2026 | $7.9M | Current | No | 1.53x | 89% |
| July 2026 | $7.9M | Current | No | 1.53x | 89% |
| June 2026 | $7.9M | Current | No | n/a | n/a |
| May 2026 | $7.9M | Current | No | n/a | n/a |
| April 2026 | $8.0M | Current | No | 1.07x | 96% |
| March 2026 | $8.0M | Current | No | 1.87x | 96% |
| February 2026 | $8.0M | Current | No | 1.87x | 96% |
| January 2026 | $8.0M | Current | No | 1.87x | 96% |
| December 2025 | $8.0M | Current | No | 1.87x | 96% |
| November 2025 | $8.0M | Current | No | 1.94x | 92% |
| October 2025 | $8.0M | Current | No | n/a | n/a |
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 2019-L2 | 34 | $7,880,310 | Sep 2026 | SEC filing, October 2, 2026 |
Other Texas loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Pharr Town Center | Pharr, TX | Retail | $65.2M | 4.45% | Aug 2029 | 1.36x | 95% | Current |
| River Valley Shopping Center | McAllen, TX | Retail | $14.7M | 4.10% | Aug 2029 | 2.77x | 98% | Current |
| Marval Plaza | Edinburg, TX | Retail | $3.5M | 4.25% | Oct 2029 | 1.67x | 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.