Retail · Ypsilanti, Michigan
Roundtree Place
Roundtree Place is financed with a $7.6M CMBS loan at 5.306% that reaches maturity on June 6, 2028, in 19 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,646,476
- Original balance (same notes)
- $8,625,000
- Interest rate
- 5.306% fixed
- Originated
- May 16, 2018
- Maturity
- June 6, 2028
- Payments
- Interest only for 12 months, then amortizing
- Prepayment lockout ends
- March 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2321-2515 Ellsworth Rd, Ypsilanti, MI 48197
- Metro
- Ann Arbor, MI
- Rentable area
- 246,620 sq ft
- Built
- 1992, renovated 2013
- Largest tenants
- Walmart; Ollie's Bargain Outlet; Harbor Freight
- Value at securitization
- $13.2M (Apr 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.13x | 1.58x |
| Occupancy | 99% | 33% |
| Net operating income (annualized from 6 months) | $987K | $1.8M |
| Debt yield | 24.0% |
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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- Coverage down 0.25x or more from securitization
- 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 99% when the loan was securitized to 33%.
- Net operating income is 86% above the underwritten figure ($1.8M a year against $987K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.13x at securitization to 1.58x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.6M | Current | No | 1.58x | 33% |
| August 2026 | $7.7M | Current | No | 1.27x | 33% |
| July 2026 | $7.7M | Current | No | n/a | n/a |
| June 2026 | $7.7M | Current | No | n/a | n/a |
| May 2026 | $7.7M | Current | No | n/a | n/a |
| April 2026 | $7.7M | Current | No | 1.27x | 95% |
| March 2026 | $7.7M | Current | No | 1.27x | 33% |
| February 2026 | $7.7M | Current | No | 1.27x | 33% |
| January 2026 | $7.8M | Current | No | 1.27x | 33% |
| December 2025 | $7.8M | Current | No | 1.29x | 33% |
| November 2025 | $7.8M | Current | No | 1.29x | 33% |
| October 2025 | $7.8M | Current | No | 1.29x | 33% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 | 26 | $7,646,476 | Sep 2026 | SEC filing, September 25, 2026 |
Other Ann Arbor loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Lion | Ann Arbor, MI | Multifamily | $18.4M | 4.967% | Nov 2028 | n/a | n/a | Current |
| Ann Arbor | Ann Arbor, MI | Self storage | $14.5M | 5.20% | Aug 2028 | n/a | n/a | Current |
| Maple Village Self Storage | Ann Arbor, MI | Self storage | $4.0M | 4.96% | Oct 2028 | 2.43x | 96% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.