Multifamily · Houston, Texas
Mia East
Mia East is financed with a $19.0M CMBS loan at 6.82% that reaches maturity on April 6, 2030, in 3 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $19,000,000
- Original balance (same notes)
- $19,000,000
- Interest rate
- 6.82% fixed
- Originated
- March 10, 2025
- Maturity
- April 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 5, 2030
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3950 Ashburnham Drive, Houston, TX 77082
- Metro
- Houston-Pasadena-The Woodlands, TX
- Units, rooms or beds
- 224
- Built
- 1983, renovated 2024
- Value at securitization
- $26.4M (Feb 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.34x | 0.66x |
| Occupancy | 93% | 72% |
| Net operating income (annualized from 6 months) | $1.8M | $871K |
| Debt yield | 4.6% |
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 BBCMS Mortgage Trust 2025-5C34 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
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 fallen from 93% when the loan was securitized to 72%.
- Net operating income is 50% below the underwritten figure ($871K a year against $1.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.34x at securitization to 0.66x on the latest statements.
- At 0.66x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $19.0M | Current | No | 0.66x | 72% |
| August 2026 | $19.0M | Current | No | 1.03x | 88% |
| July 2026 | $19.0M | Current | No | 1.02x | 88% |
| June 2026 | $19.0M | Current | No | 1.02x | 88% |
| May 2026 | $19.0M | Current | No | n/a | n/a |
| April 2026 | $19.0M | Current | No | n/a | n/a |
| March 2026 | $19.0M | Current | No | n/a | n/a |
| February 2026 | $19.0M | Current | No | n/a | n/a |
| January 2026 | $19.0M | Current | No | n/a | n/a |
| December 2025 | $19.0M | Current | No | n/a | n/a |
| November 2025 | $19.0M | Current | No | n/a | n/a |
| October 2025 | $19.0M | 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 2025-5C34 | 16 | $19,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 5712 Old River | Old River Winfree, TX | Self storage | $60.0M | 5.808% | Oct 2030 | n/a | n/a | Current |
| Waterford Grove Apartments | Houston, TX | Multifamily | $60.0M | 6.567% | Mar 2030 | 0.88x | 71% | Delinquent |
| Hotel ZaZa | Houston, TX | Hotel | $58.4M | 3.80% | Mar 2030 | 3.56x | 62% | Current |
| Rayford Square | Spring, TX | Retail | $57.6M | 3.595% | Jan 2030 | n/a | n/a | Current |
| Providence at Heights & Legacy at Westchase | Houston, TX | Multifamily | $50.5M | 6.36% | Jun 2030 | 1.18x | 93% | With the special servicer |
| Trails at Dominion Park | Houston, TX | Multifamily | $42.7M | 6.20% | Jan 2030 | n/a | n/a | Current |
| Chasewood Technology Park | Houston, TX | Office | $41.7M | 3.914% | Sep 2030 | 1.97x | 69% | Current |
| Haven at Bellaire | Richmond, TX | Multifamily | $41.6M | 6.262% | Oct 2030 | 1.07x | 91% | With the special servicer and 60-89 days delinquent |
All loans maturing in 2030 · All Houston-Pasadena-The Woodlands 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.