Industrial · Holland, Michigan
Motus Headquarters
Motus Headquarters is financed with a $12.2M CMBS loan at 4.40% that reaches maturity on July 6, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $12,200,000
- Original balance (same notes)
- $12,200,000
- Interest rate
- 4.40% fixed
- Originated
- June 21, 2019
- Maturity
- July 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 5, 2029
- Master servicer
- Trimont LLC
- Originator
- LCF
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 88 East 48th Street, Holland, MI 49423
- Rentable area
- 320,333 sq ft
- Built
- 1995, renovated 2004
- Largest tenants
- Motus Recruiting & Staffing
- Value at securitization
- $18.9M (May 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.37x | 2.80x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $1.3M | $1.5M |
| Debt yield | 12.5% |
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 UBS Commercial Mortgage Trust 2019-C17 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
- Net operating income is 18% above the underwritten figure ($1.5M a year against $1.3M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.37x at securitization to 2.80x on the latest statements.
- The filing gives Jun 2029 as the lease end date for the largest tenant (Motus Recruiting & Staffing), 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 | $12.2M | Late payment but less than 30 days delinquent | No | 2.80x | 100% |
| August 2026 | $12.2M | Current | No | 2.80x | 100% |
| July 2026 | $12.2M | Current | No | 2.80x | 100% |
| June 2026 | $12.2M | Current | No | 2.80x | 100% |
| May 2026 | $12.2M | Current | No | 2.73x | 100% |
| April 2026 | $12.2M | Current | No | 2.73x | 100% |
| March 2026 | $12.2M | Current | No | 2.72x | 100% |
| February 2026 | $12.2M | Current | No | 2.72x | 100% |
| January 2026 | $12.2M | Current | No | 2.72x | 100% |
| December 2025 | $12.2M | Current | No | 2.72x | 100% |
| November 2025 | $12.2M | Current | No | 2.71x | 100% |
| October 2025 | $12.2M | Current | No | 2.71x | 100% |
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C17 | 27 | $12,200,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Michigan loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| First National Building | Detroit, MI | Office | $430.0M | 3.778% | Jan 2029 | n/a | n/a | Current |
| FCA USA - Detroit, MI | Detroit, MI | Industrial | $147.9M | 5.744% | Apr 2029 | n/a | n/a | Current |
| Farmers Insurance Corporate Campus | Caledonia, MI | Office | $92.8M | 3.55% | Sep 2029 | 1.60x | 100% | Current |
| Woodland Mall | Kentwood, MI | Retail | $80.0M | 7.35% | Dec 2029 | 2.16x | 95% | Current |
| Bedrock Mixed-Use Portfolio | Detroit, MI | Other | $75.0M | 6.385% | Jun 2029 | 1.64x | 83% | Current |
| Garfield Commons | Clinton Township, MI | Multifamily | $75.0M | 7.32% | Jan 2029 | n/a | n/a | Current |
| Midlink Business Park | Kalamazoo, MI | Office | $70.0M | 6.113% | Nov 2029 | 1.23x | 87% | Current |
| 1040 40th Street SE | Grand Rapids, MI | Industrial | $45.5M | 7.06% | Jun 2029 | 1.34x | 100% | 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.