Office · Dearborn, Michigan
Mercury Drive
Mercury Drive is financed with a $16.6M CMBS loan at 5.07% that reaches its anticipated repayment date on January 6, 2029, in 2 years and 2 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $16,562,446
- Original balance (same notes)
- $19,000,000
- Interest rate
- 5.07% fixed
- Originated
- December 31, 2018
- Maturity
- January 6, 2032
- Anticipated repayment date
- January 6, 2029 (the rate steps up if the loan is not repaid by then)
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- October 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 6000, 6100 & 6200 Mercury Drive, Dearborn, MI 48126
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 193,463 sq ft
- Built
- 1998, renovated 2017
- Largest tenants
- Ford Motor Company
- Value at securitization
- $26.3M (Dec 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.94x | 1.98x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $2.4M | $2.5M |
| Debt yield | 14.8% |
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 GS Mortgage Securities Trust 2019-GC38 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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
- The filing gives Dec 2028 as the lease end date for the largest tenant (Ford Motor Company), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $16.6M | Current | No | 1.98x | 100% |
| September 2026 | $16.6M | Current | No | 1.98x | 100% |
| August 2026 | $16.6M | Current | No | 1.98x | 100% |
| July 2026 | $16.7M | Current | No | 1.98x | 100% |
| June 2026 | $16.7M | Current | No | 1.94x | 100% |
| May 2026 | $16.7M | Current | No | 1.94x | 100% |
| April 2026 | $16.7M | Current | No | 1.92x | 100% |
| March 2026 | $16.8M | Current | No | 1.92x | 100% |
| February 2026 | $16.8M | Current | No | 1.92x | 100% |
| January 2026 | $16.8M | Current | No | 1.92x | 100% |
| December 2025 | $16.9M | Current | No | 1.90x | 100% |
| November 2025 | $16.9M | Current | No | 1.90x | 100% |
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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GC38 | 18 | $16,562,446 | Oct 2026 | SEC filing, October 22, 2026 |
Other Detroit-Warren-Dearborn loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| First National Building | Detroit, MI | Office | $430.0M | 3.778% | Jan 2029 | n/a | n/a | Current |
| FCA USA - Detroit, MI | Detroit, MI | Industrial | $147.9M | 5.744% | Apr 2029 | n/a | n/a | Current |
| Bedrock Mixed-Use Portfolio | Detroit, MI | Other | $75.0M | 6.385% | Jun 2029 | 1.64x | 83% | Current |
| Garfield Commons | Clinton Township, MI | Multifamily | $75.0M | 7.32% | Jan 2029 | n/a | n/a | Current |
| Amazon Distribution Livonia | Livonia, MI | Industrial | $34.0M | 3.73% | May 2029 | 3.79x | 100% | Current |
| Pointe Plaza | Grosse Pointe Woods, MI | Mixed use | $30.5M | 7.955% | Jul 2029 | 1.61x | 100% | Current |
| Northville Village Shopping Center Phase I | Northville, MI | Retail | $29.5M | 6.50% | Sep 2029 | 1.65x | 98% | Current |
| Waterside Marketplace | Chesterfield, MI | Retail | $25.8M | 6.21% | Nov 2029 | 2.34x | 93% | Current |
All loans maturing in 2029 · All Detroit-Warren-Dearborn loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.