Industrial · Lebanon, Tennessee
Perma-Pipe
Perma-Pipe is financed with a $5.7M CMBS loan at 3.57% that reaches maturity on May 6, 2031, in 4 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,720,000
- Original balance (same notes)
- $5,720,000
- Interest rate
- 3.57% fixed
- Originated
- April 16, 2021
- Maturity
- May 6, 2031
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- CREFI
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1310 Quarles Drive, Lebanon, TN 37087
- Metro
- Nashville-Davidson--Murfreesboro--Franklin, TN
- Rentable area
- 138,478 sq ft
- Built
- 1976, renovated 2015
- Largest tenants
- Perma-Pipe
- Value at securitization
- $10.7M (Mar 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 4.11x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | n/a | $855K |
| Debt yield | 14.9% |
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 2021-B26 Mortgage Trust 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.7M | Not reported | No | 4.11x | 100% |
| August 2026 | $5.7M | Not reported | No | 3.88x | 100% |
| July 2026 | $5.7M | Not reported | No | 3.88x | 100% |
| June 2026 | $5.7M | Not reported | No | 3.88x | 100% |
| May 2026 | $5.7M | Not reported | No | 3.88x | 100% |
| April 2026 | $5.7M | Not reported | No | 3.88x | 100% |
| March 2026 | $5.7M | Not reported | No | 4.23x | 100% |
| February 2026 | $5.7M | Not reported | No | 4.23x | 100% |
| January 2026 | $5.7M | Not reported | No | 4.23x | 100% |
| December 2025 | $5.7M | Not reported | No | 4.23x | 100% |
| November 2025 | $5.7M | Not reported | No | 3.94x | 100% |
| October 2025 | $5.7M | Not reported | No | 3.94x | 100% |
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-B26 Mortgage Trust | 37 | $5,720,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Nashville-Davidson--Murfreesboro--Franklin loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Dutton | Murfreesboro, TN | Multifamily | $47.5M | 5.92% | Apr 2031 | n/a | n/a | Current |
| 501 Great Circle | Nashville, TN | Office | $21.3M | 3.86% | Nov 2031 | 1.64x | 57% | Current |
| 880 Butler Drive | Murfreesboro, TN | Industrial | $14.7M | 3.319% | Jan 2031 | 2.53x | 100% | Current |
| Towneplace Suites Franklin | Franklin, TN | Hotel | $13.2M | 6.814% | Jan 2031 | n/a | n/a | Current |
| Bowie Commons | Fairview, TN | Retail | $7.9M | 3.53% | Jun 2031 | n/a | n/a | Current |
| 1810 Belcourt Ave | Nashville, TN | Multifamily | $6.8M | 6.67% | Oct 2031 | n/a | n/a | Current |
| Wag - Nashville | Mount Juliet, TN | Retail | $4.5M | 4.04% | Jun 2031 | 2.06x | 100% | Current |
| Northcreek Medical Office | Goodlettsville, TN | Office | $3.1M | 4.15% | Nov 2031 | 2.74x | 100% | Current |
All loans maturing in 2031 · All Nashville-Davidson--Murfreesboro--Franklin 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.