Retail · Key West, Florida
Overseas Market
Overseas Market is financed with a $35.5M CMBS loan at 3.375% that reaches maturity on July 1, 2031, in 4 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $35,500,000
- Original balance (same notes)
- $35,500,000
- Interest rate
- 3.375% fixed
- Originated
- June 10, 2021
- Maturity
- July 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 28, 2031
- Prepayment premium ends
- February 28, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2814 North Roosevelt Boulevard, Key West, FL 33040
- Rentable area
- 183,382 sq ft
- Built
- 1992
- Largest tenants
- Winn-Dixie; Ross Dress for Less; CVS
- Value at securitization
- $58.4M (Apr 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.54x | 2.97x |
| Occupancy | 90% | 98% |
| Net operating income (annualized from 6 months) | $3.1M | $3.6M |
| Debt yield | 10.2% |
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 BANK 2021-BNK35 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 90% when the loan was securitized to 98%.
- Net operating income is 17% above the underwritten figure ($3.6M a year against $3.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.54x at securitization to 2.97x on the latest statements.
- The filing gives Dec 2030 as the lease end date for the largest tenant (Winn-Dixie), 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 | $35.5M | Current | No | 2.97x | 98% |
| August 2026 | $35.5M | Current | No | 2.32x | 98% |
| July 2026 | $35.5M | Current | No | 2.32x | 98% |
| June 2026 | $35.5M | Current | No | 2.32x | 98% |
| May 2026 | $35.5M | Current | No | 2.32x | 98% |
| April 2026 | $35.5M | Current | No | 3.16x | 99% |
| March 2026 | $35.5M | Current | No | 3.16x | 99% |
| February 2026 | $35.5M | Current | No | 3.16x | 99% |
| January 2026 | $35.5M | Current | No | 3.47x | 98% |
| December 2025 | $35.5M | Current | No | 3.47x | 98% |
| November 2025 | $35.5M | Current | No | 3.47x | 98% |
| October 2025 | $35.5M | Current | No | 3.47x | 98% |
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 |
|---|---|---|---|---|
| BANK 2021-BNK35 | 14 | $35,500,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Florida loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Phillips Point | West Palm Beach, FL | Office | $198.5M | 3.34% | Feb 2031 | 2.04x | 74% | Current |
| Renaissance Center Park | Tampa, FL | Office | $97.0M | 6.615% | Feb 2031 | n/a | n/a | Current |
| Cottage Cove Apartments | Miami, FL | Multifamily | $87.5M | 6.45% | Feb 2031 | n/a | n/a | Current |
| Edison Grand | Fort Myers, FL | Multifamily | $77.0M | 5.89% | Jul 2031 | n/a | n/a | Current |
| Extra Space Brickell | Miami, FL | Self storage | $65.0M | 3.99% | May 2031 | n/a | n/a | Current |
| Holiday Inn Miami Hialeah | Hialeah Gardens, FL | Hotel | $60.0M | 7.372% | Mar 2031 | n/a | n/a | Current |
| Doral Concourse | Doral, FL | Office | $56.0M | 3.31% | Aug 2031 | 2.24x | 84% | Current |
| 17 West Miami | Miami Beach, FL | Mixed use | $55.0M | 3.81% | Dec 2031 | 1.67x | 100% | 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.