Office · South Bend, Indiana
Press Ganey Hq
Press Ganey Hq is financed with a $9.0M CMBS loan at 2.593% that reaches its anticipated repayment date on December 6, 2031, in 5 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,000,000
- Original balance (same notes)
- $9,000,000
- Interest rate
- 2.593% fixed
- Originated
- December 3, 2021
- Maturity
- March 6, 2033
- Anticipated repayment date
- December 6, 2031 (the rate steps up if the loan is not repaid by then)
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2031
- Master servicer
- Trimont LLC
- Originator
- UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1173 Ignition Drive South, South Bend, IN 46601
- Rentable area
- 77,264 sq ft
- Built
- 2021
- Largest tenants
- PRESS GANEY ASSOCIATES INC
- Value at securitization
- $18.2M (Aug 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 4.59x | 5.63x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.1M | $1.3M |
| 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 GS Mortgage Securities Trust 2021-GSA3 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 23% above the underwritten figure ($1.3M a year against $1.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 4.59x at securitization to 5.63x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.0M | Current | No | 5.63x | 100% |
| August 2026 | $9.0M | Current | No | 5.53x | 100% |
| July 2026 | $9.0M | Current | No | 5.53x | 100% |
| June 2026 | $9.0M | Current | No | 5.53x | 100% |
| May 2026 | $9.0M | Current | No | 5.79x | 100% |
| April 2026 | $9.0M | Current | No | 5.79x | 100% |
| March 2026 | $9.0M | Current | No | 5.81x | 100% |
| February 2026 | $9.0M | Current | No | 5.81x | 100% |
| January 2026 | $9.0M | Current | No | 5.81x | 100% |
| December 2025 | $9.0M | Current | No | 5.81x | 100% |
| November 2025 | $9.0M | Current | No | 5.81x | 100% |
| October 2025 | $9.0M | Current | No | 5.62x | 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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2021-GSA3 | 24 | $9,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
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.