Retail · Houston, Texas
Northwest Marketplace
Northwest Marketplace is financed with a $26.0M CMBS loan at 5.087% that reaches maturity on January 6, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $26,000,000
- Original balance (same notes)
- $26,000,000
- Interest rate
- 5.087% fixed
- Originated
- December 24, 2025
- Maturity
- January 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2030
- Master servicer
- Midland
- Originator
- Barclays Capital Real Estate Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 13706-13846 Northwest Freeway, Houston, TX 77040
- Metro
- Houston-Pasadena-The Woodlands, TX
- Rentable area
- 182,866 sq ft
- Built
- 2002
- Largest tenants
- Ross Dress for Less; dd's Discount Store; Melrose
- Value at securitization
- $40.6M (Nov 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.22x | 1.51x |
| Occupancy | 96% | n/a |
| Net operating income (annualized from 3 months) | $3.0M | $2.1M |
| Debt yield | 7.9% |
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 BBCMS Mortgage Trust 2026-5C40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% 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
- Net operating income is 31% below the underwritten figure ($2.1M a year against $3.0M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.22x at securitization to 1.51x on the latest statements.
- The filing gives Jan 2028 as the lease end date for the largest tenant (Ross Dress for Less), before the loan matures. Lenders look hard at that rollover.
The last 8 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.0M | Current | No | 1.51x | n/a |
| August 2026 | $26.0M | Current | No | 1.51x | n/a |
| July 2026 | $26.0M | Current | No | 1.51x | n/a |
| June 2026 | $26.0M | Current | No | 1.51x | n/a |
| May 2026 | $26.0M | Current | No | n/a | n/a |
| April 2026 | $26.0M | Current | No | n/a | n/a |
| March 2026 | $26.0M | Current | No | n/a | n/a |
| February 2026 | $26.0M | Current | No | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2026-5C40 | 8 | $26,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 1201 Lake Robbins | The Woodlands, TX | Office | $250.0M | 3.827% | Oct 2031 | 2.84x | 100% | Current |
| 1500 Post Oak Boulevard | Houston, TX | Office | $140.0M | 6.747% | Mar 2031 | n/a | n/a | Current |
| West Memorial Place | Houston, TX | Office | $106.0M | 7.035% | May 2031 | n/a | n/a | Current |
| 2700 Post Property | Houston, TX | Office | $81.5M | 4.46% | Mar 2031 | n/a | n/a | Current |
| HP Plaza | Spring, TX | Office | $79.0M | 7.01% | Jun 2031 | n/a | n/a | Current |
| Waterway Plaza I | The Woodlands, TX | Office | $66.0M | 3.269% | Feb 2031 | 3.74x | 100% | Current |
| Fountains on the Lake | Stafford, TX | Retail | $59.1M | 3.776% | Dec 2031 | 3.70x | 97% | Current |
| Bella Terra | Richmond, TX | Retail | $52.3M | 3.48% | Dec 2031 | 3.12x | 91% | Current |
All loans maturing in 2031 · All Houston-Pasadena-The Woodlands 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.