Office · Cape Coral, Florida
Mid Cape Flex
Mid Cape Flex is financed with a $5.0M CMBS loan at 3.93% that reaches maturity on April 6, 2031, in 4 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
- $4,995,140
- Original balance (same notes)
- $5,800,000
- Interest rate
- 3.93% fixed
- Originated
- March 30, 2021
- Maturity
- April 6, 2031
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- October 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred August 14, 2024, returned May 20, 2025
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 71-79 Mid Cap Terrace, Cape Coral, FL 33991
- Metro
- Cape Coral-Fort Myers, FL
- Rentable area
- 101,430 sq ft
- Built
- 2006
- Largest tenants
- Bones Coffee Company; Channel Mark Conx; Rule Marketing, LLC
- Value at securitization
- $9.6M (Mar 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.32x | 2.93x |
| Occupancy | 95% | 100% |
| Net operating income (annualized from 6 months) | $846K | $2.2M |
| Debt yield | 43.2% |
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 Benchmark 2021-B25 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 risen from 95% when the loan was securitized to 100%.
- Net operating income is 155% above the underwritten figure ($2.2M a year against $846K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.32x at securitization to 2.93x on the latest statements.
- The filing gives Oct 2027 as the lease end date for the largest tenant (Bones Coffee 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 |
|---|---|---|---|---|---|
| September 2026 | $5.0M | Current | No | 2.93x | 100% |
| August 2026 | $5.0M | Current | No | n/a | n/a |
| July 2026 | $5.0M | Current | No | n/a | n/a |
| June 2026 | $5.0M | Current | No | n/a | n/a |
| May 2026 | $5.0M | Current | No | n/a | n/a |
| April 2026 | $5.1M | Current | No | 3.64x | 100% |
| March 2026 | $5.1M | Current | No | 3.64x | 100% |
| February 2026 | $5.1M | Current | No | 3.64x | 100% |
| January 2026 | $5.1M | Current | No | 3.64x | 100% |
| December 2025 | $5.1M | Current | No | 3.64x | 100% |
| November 2025 | $5.1M | Current | No | 3.64x | 100% |
| October 2025 | $5.1M | 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.
Special-servicing history
- Transferred to the special servicer August 14, 2024, returned to the master servicer May 20, 2025.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2021-B25 Mortgage Trust | 43 | $4,995,140 | Sep 2026 | SEC filing, September 28, 2026 |
Other Cape Coral-Fort Myers loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Edison Grand | Fort Myers, FL | Multifamily | $77.0M | 5.89% | Jul 2031 | n/a | n/a | Current |
| Elite Rv & Boat Storage | Fort Myers, FL | Self storage | $5.8M | 4.397% | Apr 2031 | 1.66x | 70% | Current |
All loans maturing in 2031 · All Cape Coral-Fort Myers 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.