Office · Bloomington, Minnesota
Offices At Mall Of America
Offices At Mall Of America is financed with a $38.8M CMBS loan at 5.136% that reaches maturity on September 6, 2028, in 22 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $38,811,982
- Original balance (same notes)
- $42,000,000
- Interest rate
- 5.136% fixed
- Originated
- September 5, 2018
- Maturity
- September 6, 2028
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- May 5, 2028
- Master servicer
- Midland
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2131 Lindau Lane, Bloomington, MN 55425
- Metro
- Minneapolis-St. Paul-Bloomington, MN-WI
- Rentable area
- 169,311 sq ft
- Built
- 2016
- Largest tenants
- Hewlett Packard Enterprise; MOA Management LLC; Bloomington Convention & Visitor
- Value at securitization
- $65.0M (Jul 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.35x | 1.56x |
| Occupancy | 85% | 89% |
| Net operating income (annualized from 3 months) | $3.7M | $4.3M |
| Debt yield | 11.2% |
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 Morgan Stanley Capital I Trust 2018-L1 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 85% when the loan was securitized to 89%.
- Net operating income is 17% above the underwritten figure ($4.3M a year against $3.7M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.35x at securitization to 1.56x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $38.8M | Current | No | 1.56x | 89% |
| August 2026 | $38.9M | Current | No | 1.56x | 89% |
| July 2026 | $38.9M | Current | No | 1.56x | 89% |
| June 2026 | $39.0M | Current | No | n/a | n/a |
| May 2026 | $39.0M | Current | No | n/a | n/a |
| April 2026 | $39.1M | Current | No | 1.42x | 89% |
| March 2026 | $39.2M | Current | No | 1.50x | 89% |
| February 2026 | $39.2M | Current | No | 1.50x | 89% |
| January 2026 | $39.3M | Current | No | 1.50x | 89% |
| December 2025 | $39.3M | Current | No | 1.50x | 89% |
| November 2025 | $39.4M | Current | No | 1.55x | 89% |
| October 2025 | $39.5M | Current | No | 1.55x | 89% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2018-L1 | 5 | $38,811,982 | Sep 2026 | SEC filing, October 2, 2026 |
Other Minneapolis-St. Paul-Bloomington loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Park Place East | Minneapolis, MN | Office | $51.0M | 4.62% | Feb 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 444 Lafayette | Saint Paul, MN | Office | $37.3M | 4.722% | Oct 2028 | n/a | n/a | Current |
| Southpoint Office Center | Bloomington, MN | Office | $32.7M | 4.305% | Feb 2028 | 1.41x | 58% | With the special servicer |
| Braemar Office Park | Edina, MN | Office | $19.1M | 4.384% | Jan 2028 | 1.92x | 88% | Current |
| Crystal Center | Crystal, MN | Retail | $19.1M | 4.90% | Aug 2028 | 2.56x | 97% | Current |
| 8800 Queen Avenue South | Bloomington, MN | Mixed use | $16.7M | 4.56% | Feb 2028 | 2.63x | 95% | Current |
| Gaviidae Common | Minneapolis, MN | Mixed use | $14.2M | 4.29% | Apr 2028 | n/a | n/a | Current |
| Village Ten Sc | Coon Rapids, MN | Retail | $13.0M | 4.75% | Aug 2028 | 2.38x | 94% | Current |
All loans maturing in 2028 · All Minneapolis-St. Paul-Bloomington 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.