Office · Carmel, Indiana
Meridian Plaza
Meridian Plaza is financed with a $31.5M CMBS loan at 7.67% that reaches maturity on June 6, 2028, in 19 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $31,500,000
- Original balance (same notes)
- $31,500,000
- Interest rate
- 7.67% fixed
- Originated
- June 2, 2023
- Maturity
- June 6, 2028
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- UBS AG
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 10333 10401 and 10585 North Meridian Street, Carmel, IN 46290
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Rentable area
- 314,164 sq ft
- Built
- 1986, renovated 2021
- Largest tenants
- Kinetic Advantage LLC; Bastian Solutions LLC; IEA Energy Services LLC
- Value at securitization
- $45.6M (Apr 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.72x |
| Occupancy | 82% | 74% |
| Net operating income (annualized from 6 months) | n/a | $4.2M |
| Debt yield | 13.5% |
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 2023-C20 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
- Occupancy has fallen from 82% when the loan was securitized to 74%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $31.5M | Not reported | No | 1.72x | 74% |
| August 2026 | $31.5M | Not reported | No | 1.72x | 74% |
| July 2026 | $31.5M | Not reported | No | 1.88x | 90% |
| June 2026 | $31.5M | Not reported | No | 1.88x | 90% |
| May 2026 | $31.5M | Not reported | No | 1.88x | 90% |
| April 2026 | $31.5M | Not reported | No | 1.88x | 90% |
| March 2026 | $31.5M | Not reported | No | 1.80x | 90% |
| February 2026 | $31.5M | Not reported | No | 1.80x | 90% |
| January 2026 | $31.5M | Not reported | No | 1.80x | 90% |
| December 2025 | $31.5M | Not reported | No | 1.83x | 90% |
| November 2025 | $31.5M | Not reported | No | 1.83x | 90% |
| October 2025 | $31.5M | Not reported | No | 1.83x | 90% |
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 2023-C20 | 10 | $31,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Indianapolis-Carmel-Greenwood loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Castleton Commons and Square | Indianapolis, IN | Retail | $30.8M | 5.605% | Nov 2028 | 1.04x | 76% | With the special servicer and 90+ days delinquent |
| Meridian at North | Indianapolis, IN | Office | $23.9M | 5.076% | Sep 2028 | 0.59x | 65% | Current |
| Villa Del Sol Apartments | Indianapolis, IN | Multifamily | $22.7M | 4.56% | Apr 2028 | 2.96x | 100% | Current |
| Franklin Road Distribution Center | Indianapolis, IN | Industrial | $18.5M | 5.486% | Dec 2028 | 2.07x | 84% | Current |
| Embassy Suites Indianapolis North | Indianapolis, IN | Hotel | $18.1M | 5.30% | Mar 2028 | 0.15x | 73% | Current |
| GRM Indianapolis | Indianapolis, IN | Industrial | $17.0M | 6.26% | May 2028 | 2.01x | 100% | Current |
| Lakeside Pointe At Nora | Indianapolis, IN | Multifamily | $15.2M | 5.98% | Nov 2028 | n/a | n/a | Current |
| Camden Oakes | Indianapolis, IN | Multifamily | $14.4M | 4.91% | Sep 2028 | 1.82x | 96% | Current |
All loans maturing in 2028 · All Indianapolis-Carmel-Greenwood 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.