Retail · Natchez, Mississippi
Natchez Promenade
Natchez Promenade is financed with a $5.4M CMBS loan at 8.005% that reaches maturity on December 6, 2033, in 7 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,448,516
- Original balance (same notes)
- $5,477,500
- Interest rate
- 8.005% fixed
- Originated
- November 10, 2023
- Maturity
- December 6, 2033
- Payments
- Interest only for 24 months, then amortizing
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 350 John R Junkin Drive, Natchez, MS 39120
- Rentable area
- 148,010 sq ft
- Built
- 1979, renovated 2023
- Largest tenants
- Belk; Ollie's Bargain Outlet; Planet Fitness
- Value at securitization
- $8.3M (Jul 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.59x | 1.35x |
| Occupancy | 97% | 97% |
| Net operating income | $769K | $625K |
| Debt yield | 11.5% |
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 MSWF Commercial Mortgage Trust 2023-2 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
- Net operating income is 19% below the underwritten figure ($625K a year against $769K).
- Debt service coverage moved from 1.59x at securitization to 1.35x on the latest statements.
- The filing gives Jan 2030 as the lease end date for the largest tenant (Belk), 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 | $5.4M | Current | No | 1.35x | 97% |
| August 2026 | $5.5M | Current | No | 1.35x | 97% |
| July 2026 | $5.5M | Current | No | 1.11x | 97% |
| June 2026 | $5.5M | Current | No | 1.11x | 97% |
| May 2026 | $5.5M | Current | No | 1.11x | 97% |
| April 2026 | $5.5M | Current | No | 1.50x | 97% |
| March 2026 | $5.5M | Current | No | 1.50x | 97% |
| February 2026 | $5.5M | Current | No | 1.42x | 97% |
| January 2026 | $5.5M | Current | No | 1.42x | 97% |
| December 2025 | $5.5M | Current | No | 1.42x | 97% |
| November 2025 | $5.5M | Current | No | 1.56x | 97% |
| October 2025 | $5.5M | Current | No | 1.56x | 97% |
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 |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-2 | 35 | $5,448,516 | Sep 2026 | SEC filing, September 29, 2026 |
Other Mississippi loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Oxford Galleria II | Oxford, MS | Retail | $24.5M | 7.64% | Oct 2033 | 1.41x | 90% | Current |
| 1220 Echelon Parkway | Jackson, MS | Office | $14.9M | 7.717% | Sep 2033 | n/a | n/a | Current |
| Holiday Inn Express Brookhaven | Brookhaven, MS | Hotel | $13.1M | 7.15% | Jun 2033 | n/a | n/a | Current |
| Holiday Inn Express Picayune, MS | Picayune, MS | Hotel | $5.4M | 8.255% | Aug 2033 | 1.54x | 72% | 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.