Retail · New Albany, Ohio
New Albany Market
New Albany Market is financed with a $5.8M CMBS loan at 5.308% that reaches maturity on December 6, 2028, in 2 years and 1 month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $5,811,882
- Original balance (same notes)
- $6,372,000
- Interest rate
- 5.308% fixed
- Originated
- November 19, 2018
- Maturity
- December 6, 2028
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- August 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5477-5535 New Albany Road West, New Albany, OH 43054
- Metro
- Columbus, OH
- Rentable area
- 34,708 sq ft
- Built
- 2007
- Largest tenants
- Roosters; Captivating Worlds; Tekilas
- Value at securitization
- $8.8M (Oct 2018)
Performance
| At securitization | Latest (Jun 2025) | |
|---|---|---|
| DSCR (NOI) | 1.44x | 1.62x |
| Occupancy | 91% | 100% |
| Net operating income (annualized from 6 months) | $611K | $693K |
| Debt yield | 11.9% |
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 GS Mortgage Securities Trust 2019-GC38 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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 risen from 91% when the loan was securitized to 100%.
- Net operating income is 13% above the underwritten figure ($693K a year against $611K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.44x at securitization to 1.62x on the latest statements.
- The filing gives Sep 2028 as the lease end date for the largest tenant (Roosters), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $5.8M | Current | No | 1.62x | 100% |
| September 2026 | $5.8M | Current | No | 1.62x | 100% |
| August 2026 | $5.8M | Current | No | 1.62x | 100% |
| July 2026 | $5.8M | Current | No | 1.62x | 100% |
| June 2026 | $5.8M | Current | No | 1.62x | 100% |
| May 2026 | $5.9M | Current | No | 1.62x | 100% |
| April 2026 | $5.9M | Current | No | 1.62x | 100% |
| March 2026 | $5.9M | Current | No | 1.62x | 100% |
| February 2026 | $5.9M | Current | No | 1.62x | 100% |
| January 2026 | $5.9M | Current | No | 1.62x | 100% |
| December 2025 | $5.9M | Current | No | 1.62x | 100% |
| November 2025 | $5.9M | Current | No | 1.62x | 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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GC38 | 32 | $5,811,882 | Oct 2026 | SEC filing, October 22, 2026 |
Other Columbus loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Sun Center Plaza | Columbus, OH | Retail | $47.5M | 6.97% | Dec 2028 | 1.78x | 99% | Current |
| Carriage Place | Columbus, OH | Retail | $28.3M | 4.91% | Oct 2028 | 1.42x | 97% | Current |
| Alliance Data Systems | Columbus, OH | Office | $26.6M | 4.942% | Aug 2028 | n/a | n/a | Current |
| Fedex Distribution Center, Groveport | Groveport, OH | Industrial | $21.1M | 4.76% | Mar 2028 | 2.34x | 100% | Current |
| 445 Hutchinson | Columbus, OH | Office | $18.2M | 4.94% | Sep 2028 | 1.16x | 75% | Late, less than 30 days |
| Parkway Centre North | Grove City, OH | Retail | $15.8M | 4.701% | Jul 2028 | 2.03x | 100% | Current |
| North West Square | Columbus, OH | Retail | $14.0M | 4.93% | May 2028 | 2.07x | 98% | Current |
| One Mill Run | Hilliard, OH | Office | $13.6M | 5.269% | Mar 2028 | 0.88x | 56% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.