Other portfolio, 7 properties · Chicago, Illinois
River East Garage
Public CMBS trusts hold $66.7M of the loan on this portfolio at 7.755% that reaches maturity on December 6, 2034, in 8 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
- $66,674,109
- Original balance (same notes)
- $75,500,000
- Interest rate
- 7.755% fixed
- Originated
- December 6, 2024
- Maturity
- December 6, 2034
- Payments
- Amortizing over 35 years
- Prepayment lockout ends
- October 5, 2034
- Master servicer
- Midland
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently July 6, 2026
- Defeasance
- None reported
The property
- Address
- 322 East Ilinois Street, Chicago, IL 60610
- Metro
- Chicago-Naperville-Elgin, IL-IN
- Value at securitization
- $147.3M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 3 months) | $8.6M | $9.2M |
| Debt yield | 13.9% |
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 Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Modified
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 8% above the underwritten figure ($9.2M a year against $8.6M; the latest statement covers 3 months, annualized).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| River East Garage | Chicago, IL | Other | 100% | 1.45x |
| 910 18th Street Garage | Denver, CO | Other | n/a | n/a |
| Bricktown Parking Garage | Oklahoma City, OK | Other | n/a | n/a |
| Mark's Garage | Honolulu, HI | Other | n/a | n/a |
| Macy's Parking Garage | Cincinnati, OH | Other | n/a | n/a |
| 7th Street Parking Garage | Cincinnati, OH | Other | n/a | n/a |
| City Park Garage | Indianapolis, IN | Other | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $66.7M | Current | No | 1.45x | 100% |
| August 2026 | $66.7M | Current | No | 1.45x | 95% |
| July 2026 | $66.7M | Current | No | 1.45x | 95% |
| June 2026 | $66.7M | Current | No | n/a | n/a |
| May 2026 | $66.8M | Current | No | n/a | n/a |
| April 2026 | $66.9M | Current | No | 1.52x | 95% |
| March 2026 | $75.0M | Current | No | 1.52x | 95% |
| February 2026 | $75.1M | Current | No | 1.57x | 95% |
| January 2026 | $75.1M | Current | No | 1.57x | 95% |
| December 2025 | $75.1M | Current | No | 1.50x | 100% |
| November 2025 | $75.2M | Current | No | 1.50x | 100% |
| October 2025 | $75.2M | Current | No | 1.50x | 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-C32 | 5 | $45,921,241 | Sep 2026 | SEC filing, September 29, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35 | 9 | $20,752,869 | Sep 2026 | SEC filing, September 29, 2026 |
Other Chicago-Naperville-Elgin loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 900 North Michigan | Chicago, IL | Mixed use | $180.0M | 6.853% | Aug 2034 | 1.54x | 90% | Current |
| Phoenix | Phoenix, IL | Industrial | $38.8M | 6.21% | Oct 2034 | n/a | n/a | Current |
| Spark by Hilton O'Hare | Des Plaines, IL | Hotel | $8.4M | 7.535% | Nov 2034 | 2.68x | 70% | Current |
| Atrium Point | New Lenox, IL | Mixed use | $8.3M | 6.87% | Dec 2034 | n/a | n/a | Late, less than 30 days |
| 3122 Broadway | Chicago, IL | Mixed use | $5.1M | 7.005% | Jun 2034 | n/a | n/a | Current |
| Shops at Lily Cache Creek | Bolingbrook, IL | Retail | $4.0M | 6.20% | Sep 2034 | 1.61x | 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.