Retail · Grapevine, Texas
Mustang Square
Mustang Square is financed with a $4.6M CMBS loan at 3.63% that reaches maturity on February 1, 2030, in 3 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,600,000
- Original balance (same notes)
- $4,600,000
- Interest rate
- 3.63% fixed
- Originated
- January 21, 2020
- Maturity
- February 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 31, 2029
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3105 Ira East Woods Avenue, Grapevine, TX 76051
- Metro
- Dallas-Fort Worth-Arlington, TX
- Rentable area
- 36,490 sq ft
- Built
- 1996
- Largest tenants
- Pride Academy; Refinery; First Place Inc.
- Value at securitization
- $8.7M (Nov 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.57x | 3.55x |
| Occupancy | 100% | 85% |
| Net operating income (annualized from 3 months) | $605K | $601K |
| Debt yield | 13.1% |
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 BANK 2020-BNK26 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Occupancy down 10 points or more from securitization
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 100% when the loan was securitized to 85%.
- The filing gives Nov 2027 as the lease end date for the largest tenant (Pride Academy), 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 | $4.6M | Current | No | 3.55x | 85% |
| August 2026 | $4.6M | Current | No | 3.55x | 85% |
| July 2026 | $4.6M | Current | No | 3.55x | 85% |
| June 2026 | $4.6M | Current | No | 3.55x | 85% |
| May 2026 | $4.6M | Current | No | 2.53x | 85% |
| April 2026 | $4.6M | Current | No | 2.53x | 85% |
| March 2026 | $4.6M | Current | No | 2.55x | 85% |
| February 2026 | $4.6M | Current | No | 2.55x | 85% |
| January 2026 | $4.6M | Current | No | 2.55x | 85% |
| December 2025 | $4.6M | Current | No | 2.55x | 85% |
| November 2025 | $4.6M | Current | No | 2.25x | 85% |
| October 2025 | $4.6M | Current | No | 2.39x | 70% |
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 |
|---|---|---|---|---|
| BANK 2020-BNK26 | 59 | $4,600,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Dallas-Fort Worth-Arlington loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Kpmg Plaza at Hall Arts | Dallas, TX | Office | $111.7M | 3.41% | Jan 2030 | 2.87x | 99% | Current |
| USAA Plano | Plano, TX | Office | $63.6M | 3.624% | Sep 2030 | 1.57x | 100% | Current |
| 6500 South | Dallas, TX | Multifamily | $50.0M | 6.52% | Apr 2030 | 1.39x | 90% | Current |
| Turtle Creek Village Retail | Dallas, TX | Retail | $48.6M | 6.87% | Jun 2030 | n/a | n/a | Current |
| Turtle Creek Village | Dallas, TX | Other | $35.4M | 6.87% | Jun 2030 | 2.94x | 92% | Current |
| Avalon 8801 | Irving, TX | Multifamily | $32.0M | 6.601% | Apr 2030 | 1.34x | 98% | Current |
| Tower at Frisco Square | Frisco, TX | Office | $31.6M | 3.62% | Dec 2030 | 2.00x | 87% | Current |
| Synergy Park | Richardson, TX | Mixed use | $29.2M | 6.28% | Feb 2030 | 3.21x | 100% | Current |
All loans maturing in 2030 · All Dallas-Fort Worth-Arlington 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.