Office portfolio, 5 properties · Frankfort, Kentucky
Mill Creek Office Park
This portfolio is financed with a $21.8M CMBS loan at 5.15% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $21,833,513
- Original balance (same notes)
- $22,580,000
- Interest rate
- 5.15% fixed
- Originated
- January 30, 2019
- Maturity
- February 6, 2029
- Payments
- Interest only for 48 months, then amortizing
- Prepayment lockout ends
- November 5, 2028
- Originator
- AREF
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred August 24, 2022
- Workout strategy
- REO
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- None reported
The property
- Address
- 1 Mill Creek Park, Frankfort, KY 40601
- Value at securitization
- $34.4M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $3.0M | n/a |
Watch flags
Computed from the Morgan Stanley Capital I Trust 2019-L2 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Servicer stopped advancing
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Mill Creek Office Park | Frankfort, KY | Office | n/a | n/a |
| First City Complex | Frankfort, KY | Office | n/a | n/a |
| Hudson Hollow | Frankfort, KY | Office | n/a | n/a |
| Court Of Appeals | Frankfort, KY | Office | n/a | n/a |
| Capital City | Frankfort, KY | Office | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $21.8M | 90+ days delinquent | Yes | n/a | n/a |
| August 2026 | $21.8M | 90+ days delinquent | Yes | n/a | n/a |
| July 2026 | $21.8M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $21.8M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $21.8M | 90+ days delinquent | Yes | n/a | n/a |
| April 2026 | $22.3M | 90+ days delinquent | Yes | 0.48x | 100% |
| March 2026 | $22.3M | 90+ days delinquent | Yes | 0.48x | 100% |
| February 2026 | $22.3M | 90+ days delinquent | Yes | 0.48x | 100% |
| January 2026 | $22.3M | 90+ days delinquent | Yes | 0.48x | n/a |
| December 2025 | $22.3M | 90+ days delinquent | Yes | 0.48x | n/a |
| November 2025 | $22.3M | 90+ days delinquent | Yes | 0.48x | n/a |
| October 2025 | $22.3M | 90+ days delinquent | Yes | 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 24, 2022, still there.
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L2 | 16 | $21,833,513 | Sep 2026 | SEC filing, October 2, 2026 |
Other Kentucky loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Hamburg Pavilion | Lexington, KY | Retail | $94.5M | 6.84% | Nov 2029 | 1.98x | 94% | Current |
| Lexmark HQ | Lexington, KY | Industrial | $82.5M | 7.44% | Mar 2029 | 2.21x | 100% | Current |
| The Galt House | Louisville, KY | Hotel | $80.6M | 6.75% | Oct 2029 | 3.08x | 56% | Current |
| Westport Distribution Center | Louisville, KY | Industrial | $52.3M | 3.353% | Nov 2029 | n/a | n/a | Current |
| Newport on the Levee | Newport, KY | Mixed use | $41.5M | 8.405% | Dec 2029 | 1.90x | 75% | Current |
| Hilton Garden Inn Bowling Green | Bowling Green, KY | Hotel | $35.5M | 8.05% | Jul 2029 | n/a | n/a | Current |
| Patriot Crossing | Louisville, KY | Multifamily | $29.8M | 6.75% | Sep 2029 | 1.38x | 95% | Current |
| AAA Stow-A-Way Storage - Paducah | Paducah, Kevil, Boaz, KY | Self storage | $28.5M | 6.95% | Sep 2029 | n/a | n/a | Current |
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.