Office · Miamisburg, Ohio
Miamisburg Office Portfolio
Miamisburg Office Portfolio is financed with a $5.2M CMBS loan at 4.66% that reaches maturity on February 1, 2028, in 15 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,191,698
- Original balance (same notes)
- $10,000,000
- Interest rate
- 4.66% fixed
- Originated
- January 22, 2018
- Maturity
- February 1, 2028
- Payments
- Amortizing over 15 years
- Prepayment lockout ends
- October 31, 2027
- Master servicer
- Midland Loan Services
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3050, 3131, 3232 Newmark Drive 8741-8775, 8877-8899 Gander Creek Dr, Miamisburg, OH 45342
- Metro
- Dayton-Kettering-Beavercreek, OH
- Rentable area
- 276,886 sq ft
- Built
- 1986
- Largest tenants
- PNC Bank 3232 Newmark; Huffy Corporation; Wilmar Cutler Pickering Hale and Dorr LLP
- Value at securitization
- $16.8M (Oct 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.42x | 0.93x |
| Occupancy | 84% | 53% |
| Net operating income (annualized from 3 months) | $2.2M | $878K |
| Debt yield | 16.9% |
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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-B2 filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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 August 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 84% when the loan was securitized to 53%.
- Net operating income is 61% below the underwritten figure ($878K a year against $2.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.42x at securitization to 0.93x on the latest statements.
- At 0.93x, 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 | $5.2M | Current | No | 0.93x | 53% |
| August 2026 | $5.2M | Current | No | 0.93x | 53% |
| July 2026 | $5.3M | Current | No | n/a | n/a |
| June 2026 | $5.4M | Current | No | n/a | n/a |
| May 2026 | $5.4M | Current | No | n/a | n/a |
| April 2026 | $5.5M | Current | No | 1.64x | 100% |
| March 2026 | $5.5M | Current | No | 1.69x | 83% |
| February 2026 | $5.6M | Current | No | 1.69x | 100% |
| January 2026 | $5.6M | Current | No | 1.69x | 100% |
| December 2025 | $5.7M | Current | No | 1.69x | 100% |
| November 2025 | $5.7M | Current | No | 1.75x | 100% |
| October 2025 | $5.8M | Current | No | 1.75x | 91% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-B2 | 35 | $5,191,698 | Sep 2026 | SEC filing, September 25, 2026 |
Other Dayton-Kettering-Beavercreek loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Courtyard by Marriott Dayton Beavercreek | Beavercreek, OH | Hotel | $13.9M | 5.565% | Mar 2028 | n/a | n/a | Current |
| Fairfield Oakes | Fairborn, OH | Multifamily | $12.9M | 5.023% | Aug 2028 | 1.78x | 94% | Current |
| Mission Point Office | Beavercreek, OH | Office | $9.9M | 5.44% | Nov 2028 | 1.87x | 100% | Current |
| Pepsi Distribution Center | Fairborn, OH | Industrial | $9.6M | 3.43% | Jun 2028 | n/a | n/a | Current |
| Apple Valley Office | Beavercreek, OH | Office | $5.1M | 4.987% | Jun 2028 | -0.50x | 51% | Current |
| Ashford Center-Oh | Beavercreek, OH | Office | $4.5M | 5.715% | Oct 2028 | 1.80x | 88% | Current |
| Best Storage-Tipp City | Tipp City, OH | Self storage | $1.6M | 5.23% | Dec 2028 | 2.72x | 100% | Current |
All loans maturing in 2028 · All Dayton-Kettering-Beavercreek loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.