Retail · Meridian, Mississippi
Meridian Crossroads
Meridian Crossroads is financed with a $22.0M CMBS loan at 7.165% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,000,000
- Original balance (same notes)
- $22,000,000
- Interest rate
- 7.165% fixed
- Originated
- November 12, 2024
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2027
- Prepayment premium ends
- August 5, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 131 South Frontage Road, Meridian, MS 39301
- Rentable area
- 206,313 sq ft
- Built
- 2007
- Largest tenants
- Ross Dress for Less #1127; Aldi, Inc. (Alabama); TJX Companies, TJ MAXX #0565
- Value at securitization
- $32.9M (Nov 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.55x | 1.68x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $2.5M | $5.4M |
| Debt yield | 24.7% |
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 BBCMS Mortgage Trust 2024-5C31 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 119% above the underwritten figure ($5.4M a year against $2.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.55x at securitization to 1.68x on the latest statements.
- The filing gives Jan 2028 as the lease end date for the largest tenant (Ross Dress for Less #1127), 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 | $22.0M | Current | No | 1.68x | 100% |
| August 2026 | $22.0M | Current | No | 1.71x | 100% |
| July 2026 | $22.0M | Current | No | 1.71x | 100% |
| June 2026 | $22.0M | Current | No | n/a | n/a |
| May 2026 | $22.0M | Current | No | n/a | n/a |
| April 2026 | $22.0M | Current | No | 1.24x | 100% |
| March 2026 | $22.0M | Current | No | 1.24x | 100% |
| February 2026 | $22.0M | Current | No | 1.24x | 100% |
| January 2026 | $22.0M | Current | No | 1.24x | 100% |
| December 2025 | $22.0M | Current | No | 1.41x | 100% |
| November 2025 | $22.0M | Current | No | 1.41x | 100% |
| October 2025 | $22.0M | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C31 | 17 | $22,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Mississippi loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Life Storage - 586 | Flowood, MS | Self storage | $70.7M | 3.809% | Aug 2029 | n/a | n/a | Current |
| 1 Fashion Way | Baldwyn, MS | Industrial | $38.0M | 4.80% | Apr 2029 | n/a | n/a | Current |
| Highland Hills Apartments | Jackson, MS | Multifamily | $27.1M | 5.591% | Jan 2029 | -0.58x | 45% | With the special servicer and 90+ days delinquent |
| Forum at Grandview | Madison, MS | Retail | $22.6M | 4.60% | Sep 2029 | n/a | n/a | Current |
| Homewood Suites Southaven | Southaven, MS | Hotel | $17.6M | 7.765% | Dec 2029 | 1.50x | 94% | Current |
| Olive Branch Commons | Olive Branch, MS | Retail | $12.2M | 5.33% | May 2029 | n/a | n/a | Current |
| Heritage Place Apartments | Meridian, MS | Multifamily | $11.5M | 4.85% | Aug 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| The Park at Milestone | Vicksburg, MS | Multifamily | $11.4M | 6.304% | Sep 2029 | 1.18x | 93% | 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.