Mixed use · Leawood, Kansas
Park Place Village
Park Place Village is financed with a $62.0M CMBS loan at 6.54% that reaches maturity on October 6, 2030, in 3 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $62,000,000
- Original balance (same notes)
- $62,000,000
- Interest rate
- 6.54% fixed
- Originated
- September 23, 2025
- Maturity
- October 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2030
- Master servicer
- Trimont LLC
- Originator
- German American Capital Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 11549 Ash Street, Leawood, KS 66211
- Metro
- Kansas City, MO-KS
- Rentable area
- 484,980 sq ft
- Built
- 2007, renovated 2016
- Largest tenants
- American Multi-Cinema Inc; RPS Financial Group; First Federal Bank
- Value at securitization
- $101.7M (Jul 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.39x | 2.69x |
| Occupancy | 93% | 96% |
| Net operating income (annualized from 6 months) | $9.8M | $11.1M |
| Debt yield | 17.9% |
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 Benchmark 2025-V18 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Net operating income is 13% above the underwritten figure ($11.1M a year against $9.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.39x at securitization to 2.69x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $62.0M | Current | No | 2.69x | 96% |
| August 2026 | $62.0M | Current | No | n/a | n/a |
| July 2026 | $62.0M | Current | No | n/a | n/a |
| June 2026 | $62.0M | Current | No | n/a | n/a |
| May 2026 | $62.0M | Current | No | n/a | n/a |
| April 2026 | $62.0M | Current | No | n/a | n/a |
| March 2026 | $62.0M | Current | No | n/a | n/a |
| February 2026 | $62.0M | Current | No | n/a | n/a |
| January 2026 | $62.0M | Current | No | n/a | n/a |
| December 2025 | $62.0M | Current | No | n/a | n/a |
| November 2025 | $62.0M | Current | No | n/a | n/a |
| October 2025 | $62.0M | Payment not received but still in grace period or not yet due | 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 |
|---|---|---|---|---|
| Benchmark 2025-V18 Mortgage Trust | 2 | $62,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Kansas City loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Black Lark Apartments | Kansas City, KS | Multifamily | $29.8M | 6.55% | May 2030 | n/a | n/a | Current |
| Natural Grocers - Independence | Independence, MO | Retail | $24.3M | 6.228% | Aug 2030 | n/a | n/a | Current |
| Gateway Tower, Kansas City | Kansas City, KS | Office | $7.5M | 4.284% | Jan 2030 | 2.05x | 92% | Current |
| College Metcalf | Overland Park, KS | Mixed use | $7.3M | 3.22% | Mar 2030 | 3.76x | 86% | Current |
| 8300 College Boulevard | Overland Park, KS | Office | $6.3M | 3.90% | Mar 2030 | 1.64x | 87% | 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.