Industrial portfolio, 31 properties · Multiple locations
Poindexter Industrial Portfolio
Public CMBS trusts hold $70.5M of the loan on this portfolio at 5.65% that reaches maturity on October 6, 2034, in 7 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
- $70,482,374
- Original balance (same notes)
- $85,000,000
- Interest rate
- 5.65% fixed
- Originated
- September 16, 2024
- Maturity
- October 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2034
- Master servicer
- Midland Loan Services
- Originator
- CREFI
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Value at securitization
- $348.3M
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.62x | 1.86x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $20.9M | $13.4M |
| Debt yield | 19.0% |
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 2024-BNK48 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% 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
- Net operating income is 36% below the underwritten figure ($13.4M a year against $20.9M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.62x at securitization to 1.86x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $70.5M | Current | No | 1.86x | 100% |
| August 2026 | $70.5M | Current | No | 2.39x | 100% |
| July 2026 | $70.5M | Current | No | 2.39x | 100% |
| June 2026 | $70.5M | Current | No | 2.39x | 100% |
| May 2026 | $70.5M | Current | No | 2.41x | 100% |
| April 2026 | $70.5M | Current | No | 2.58x | 100% |
| March 2026 | $70.5M | Current | No | 2.58x | 100% |
| February 2026 | $82.3M | Current | No | 2.58x | 100% |
| January 2026 | $82.3M | Current | No | 2.58x | 100% |
| December 2025 | $82.3M | Current | No | 2.52x | 100% |
| November 2025 | $82.3M | Current | No | 2.52x | 100% |
| October 2025 | $82.3M | Current | No | 2.52x | 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 |
|---|---|---|---|---|
| BANK 2024-BNK48 | 3 | $70,482,374 | Sep 2026 | SEC filing, October 1, 2026 |
Other industrial loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Ford Motor Co | Monroe, MI | Industrial | $76.7M | 6.103% | Nov 2034 | 2.03x | 100% | Current |
| Phoenix Industrial Portfolio XI | Industrial | $75.0M | 6.433% | Apr 2034 | 2.19x | 85% | Current | |
| Winn-Dixie Distribution Center Warehouse | Hammond, LA | Industrial | $60.0M | 6.467% | Dec 2034 | n/a | n/a | Current |
| Tekni-Plex Industrial Portfolio | Industrial | $58.4M | 6.75% | Feb 2034 | 1.93x | 100% | Current | |
| SSW Advanced Technologies | Industrial | $55.1M | 7.189% | Mar 2034 | 1.52x | 100% | Current | |
| West Michigan Industrial Portfolio | MI | Industrial | $53.2M | 6.18% | Nov 2034 | 2.22x | 100% | Current |
| Phoenix Industrial Portfolio XII | Galesburg, IL | Industrial | $52.5M | 6.55% | Dec 2034 | n/a | n/a | Late, less than 30 days |
| Ringgold | Ringgold, VA | Industrial | $44.8M | 5.65% | Oct 2034 | 2.41x | 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.