Industrial · Westville, Indiana
Midwest Trade Center
Midwest Trade Center is financed with a $27.9M CMBS loan at 3.18% that reaches maturity on October 1, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $27,900,000
- Original balance (same notes)
- $27,900,000
- Interest rate
- 3.18% fixed
- Originated
- September 30, 2021
- Maturity
- October 1, 2031
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- KeyBank
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 6500 Us-421, Westville, IN 46391
- Rentable area
- 678,996 sq ft
- Built
- 1981, renovated 2020
- Largest tenants
- DG Distribution IN LLC; Praff Paper; Tonn and Blank Construction
- Value at securitization
- $50.5M (Sep 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 3.74x |
| Occupancy | 97% | 89% |
| Net operating income (annualized from 6 months) | n/a | $3.4M |
| Debt yield | 12.1% |
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 2021-C12 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 97% when the loan was securitized to 89%.
- The filing gives Nov 2030 as the lease end date for the largest tenant (DG Distribution IN LLC), 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 | $27.9M | Not reported | No | 3.74x | 89% |
| August 2026 | $27.9M | Not reported | No | 3.74x | 89% |
| July 2026 | $27.9M | Not reported | No | 4.08x | 95% |
| June 2026 | $27.9M | Not reported | No | 4.08x | 95% |
| May 2026 | $27.9M | Not reported | No | 4.08x | 95% |
| April 2026 | $27.9M | Not reported | No | 4.34x | 95% |
| March 2026 | $27.9M | Not reported | No | 4.34x | 95% |
| February 2026 | $27.9M | Not reported | No | 4.34x | 96% |
| January 2026 | $27.9M | Not reported | No | 4.23x | 96% |
| December 2025 | $27.9M | Not reported | No | 3.98x | 96% |
| November 2025 | $27.9M | Not reported | No | 4.23x | 96% |
| October 2025 | $27.9M | Not reported | No | 4.23x | 96% |
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 2021-C12 | 9 | $27,900,000 | Sep 2026 | SEC filing, September 29, 2026 |
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.