Multifamily · Pasadena, Texas
Pecan Place Apartments
Pecan Place Apartments is financed with a $13.3M CMBS loan at 6.59% that reaches maturity on April 6, 2033, in 6 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $13,307,419
- Original balance (same notes)
- $13,500,000
- Interest rate
- 6.59% fixed
- Originated
- April 6, 2023
- Maturity
- April 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 5, 2025
- Prepayment premium ends
- January 5, 2033 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2001 Jenkins Road, Pasadena, TX 77506
- Metro
- Houston-Pasadena-The Woodlands, TX
- Units, rooms or beds
- 252
- Built
- 1969
- Value at securitization
- $21.5M (Mar 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.26x | 1.34x |
| Occupancy | 93% | 83% |
| Net operating income (annualized from 6 months) | $1.3M | $1.4M |
| Debt yield | 10.5% |
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 MSWF Commercial Mortgage Trust 2023-1 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Occupancy down 10 points 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 93% when the loan was securitized to 83%.
- Net operating income is 8% above the underwritten figure ($1.4M a year against $1.3M; the latest statement covers 6 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $13.3M | Current | No | 1.34x | 83% |
| August 2026 | $13.3M | Current | No | 1.35x | 87% |
| July 2026 | $13.3M | Current | No | 1.35x | 87% |
| June 2026 | $13.3M | Current | No | 1.35x | 87% |
| May 2026 | $13.4M | Current | No | 1.41x | 86% |
| April 2026 | $13.4M | Current | No | 1.41x | 90% |
| March 2026 | $13.4M | Current | No | 1.41x | 90% |
| February 2026 | $13.4M | Current | No | 1.41x | 90% |
| January 2026 | $13.4M | Current | No | 1.41x | 90% |
| December 2025 | $13.4M | Current | No | 1.45x | 93% |
| November 2025 | $13.4M | Current | No | 1.45x | 93% |
| October 2025 | $13.4M | Current | No | 1.45x | 93% |
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 |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-1 | 19 | $13,307,419 | Sep 2026 | SEC filing, October 2, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Barbours Cut Ios | La Porte, TX | Industrial | $80.7M | 7.20% | Jun 2033 | 1.61x | 100% | Current |
| Lakeside Forest | Houston, TX | Multifamily | $27.4M | 7.264% | Oct 2033 | 1.42x | 87% | Current |
| BLE Portfolio | Houston, TX | Multifamily | $27.3M | 7.264% | Oct 2033 | 1.30x | 91% | Current |
| La Primavera | Houston, TX | Multifamily | $25.5M | 7.532% | Nov 2033 | 1.34x | 89% | Current |
| Magnolia Cove Apartments, Houston | Houston, TX | Multifamily | $23.0M | 7.28% | Nov 2033 | 1.51x | 96% | Current |
| Deerbrook Medical Center | Humble, TX | Office | $16.3M | 7.31% | Jun 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Villa de Cancun | Houston, TX | Multifamily | $16.0M | 6.68% | May 2033 | 1.99x | 90% | Current |
| Barbours Cut Port Ios | La Porte, TX | Industrial | $12.8M | 7.20% | Jun 2033 | 1.61x | 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.