Office · Southfield, Michigan
Oakland Commons I & II
Oakland Commons I & II is financed with a $22.8M CMBS loan at 4.215% that reaches maturity on March 1, 2031, in 4 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,837,963
- Original balance (same notes)
- $24,300,000
- Interest rate
- 4.215% fixed
- Originated
- February 19, 2021
- Maturity
- March 1, 2031
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- November 30, 2030
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 20700-20750 Civic Center Drive, Southfield, MI 48076
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 310,739 sq ft
- Built
- 1999
- Largest tenants
- STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY; LIVINGSTON INTERNATIONAL TECH; GREDE HOLDINGS
- Value at securitization
- $34.9M (Feb 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.73x | 1.09x |
| Occupancy | 78% | 74% |
| Net operating income | $2.5M | $1.6M |
| Debt yield | 6.8% |
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 Benchmark 2021-B24 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Occupancy has fallen from 78% when the loan was securitized to 74%.
- Net operating income is 37% below the underwritten figure ($1.6M a year against $2.5M).
- Debt service coverage moved from 1.73x at securitization to 1.09x on the latest statements.
- The filing gives Mar 2028 as the lease end date for the largest tenant (STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY), 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 | $22.8M | Current | No | 1.09x | 74% |
| August 2026 | $22.9M | Current | No | 1.09x | 74% |
| July 2026 | $22.9M | Current | No | n/a | n/a |
| June 2026 | $22.9M | Current | No | n/a | n/a |
| May 2026 | $23.0M | Current | No | n/a | n/a |
| April 2026 | $23.0M | Current | No | 1.51x | 80% |
| March 2026 | $23.1M | Current | No | 1.51x | 80% |
| February 2026 | $23.1M | Current | No | 1.51x | 80% |
| January 2026 | $23.1M | Current | No | 1.39x | 81% |
| December 2025 | $23.2M | Current | No | 1.39x | 81% |
| November 2025 | $23.2M | Current | No | 1.33x | 79% |
| October 2025 | $23.2M | Current | No | 1.33x | 79% |
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 |
|---|---|---|---|---|
| Benchmark 2021-B24 Mortgage Trust | 18 | $22,837,963 | Sep 2026 | SEC filing, September 28, 2026 |
Other Detroit-Warren-Dearborn loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Columbia Center | Troy, MI | Office | $55.0M | 6.845% | May 2031 | n/a | n/a | Current |
| Edge at Novi | Novi, MI | Multifamily | $50.0M | 5.86% | May 2031 | n/a | n/a | Current |
| Village of Rochester Hills | Rochester Hills, MI | Retail | $47.8M | 3.747% | May 2031 | 2.37x | 98% | Current |
| 325 North Woodward | MI | Mixed use | $38.0M | 7.19% | Aug 2031 | n/a | n/a | Current |
| Magna Seating Hq | Novi, MI | Office | $37.7M | 3.51% | Apr 2031 | 2.59x | 100% | Current |
| U-haul Moving & Storage Of Inkster | Inkster, MI | Self storage | $33.8M | 2.565% | Jul 2031 | n/a | n/a | Current |
| Chestnut Woods & Chestnut Crossing | Howell, MI | Multifamily | $33.0M | 5.66% | Aug 2031 | n/a | n/a | Current |
| The Kensley | Howell, MI | Multifamily | $27.3M | 6.13% | May 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Detroit-Warren-Dearborn 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.