Retail · Charlotte, North Carolina
McCullough Commons
McCullough Commons is financed with a $26.9M CMBS loan at 3.63% that reached maturity on September 6, 2026, 1 month ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $26,928,223
- Original balance (same notes)
- $28,500,000
- Interest rate
- 3.63% fixed
- Originated
- August 19, 2021
- Maturity
- September 6, 2026
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ended
- April 5, 2026
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 440 East McCullough Drive 230 East WT Harris Boulevard, Charlotte, NC 28262
- Metro
- Charlotte-Concord-Gastonia, NC-SC
- Rentable area
- 202,216 sq ft
- Built
- 2000, renovated 2020
- Largest tenants
- Ish Moore, Inc. (Broad River); Rockin Mini Golf, LLC (Chlt Monster); BE2 Corporation dba Harold's Chicken and Ice Bar
- Value at securitization
- $57.0M (Jun 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.18x | 2.40x |
| Occupancy | 89% | 95% |
| Net operating income | $3.4M | $3.8M |
| Debt yield | 13.9% |
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 Benchmark 2021-B29 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- 30+ days delinquent or matured unpaid
- Past maturity
On the cmbs.news watch list in every report since September 2026.
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 89% when the loan was securitized to 95%.
- Net operating income is 10% above the underwritten figure ($3.8M a year against $3.4M).
- Debt service coverage moved from 2.18x at securitization to 2.40x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.9M | Non performing matured balloon | No | 2.40x | 95% |
| August 2026 | $26.9M | Current | No | n/a | n/a |
| July 2026 | $27.0M | Current | No | n/a | n/a |
| June 2026 | $27.0M | Current | No | n/a | n/a |
| May 2026 | $27.1M | Current | No | n/a | n/a |
| April 2026 | $27.1M | Current | No | 2.59x | 91% |
| March 2026 | $27.2M | Current | No | 2.59x | 91% |
| February 2026 | $27.2M | Current | No | 2.59x | 91% |
| January 2026 | $27.3M | Current | No | 2.59x | 91% |
| December 2025 | $27.3M | Current | No | 2.59x | 91% |
| November 2025 | $27.4M | Current | No | n/a | n/a |
| October 2025 | $27.4M | 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 |
|---|---|---|---|---|
| Benchmark 2021-B29 Mortgage Trust | 11 | $26,928,223 | Sep 2026 | SEC filing, September 28, 2026 |
Other Charlotte-Concord-Gastonia loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Holiday Inn Express & Suites Charlotte North | Charlotte, NC | Hotel | $5.2M | 4.744% | Dec 2026 | 1.44x | 68% | Current |
| 2601 Westinghouse Boulevard | Charlotte, NC | Industrial | $3.1M | 4.53% | Dec 2026 | 1.96x | 100% | Current |
| Greenhaven Townhouses | Charlotte, NC | Multifamily | $3.0M | 4.30% | Nov 2026 | n/a | n/a | Delinquent |
All loans maturing in 2026 · All Charlotte-Concord-Gastonia 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.