Retail portfolio, 29 properties · Multiple locations
RTL Retail Portfolio
Public CMBS trusts hold $36.8M of the loan on this portfolio at 6.446% that reaches maturity on September 6, 2033, in 6 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $36,798,318
- Original balance (same notes)
- $37,333,333
- Interest rate
- 6.446% fixed
- Originated
- August 30, 2023
- Maturity
- September 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ended
- October 5, 2024
- Prepayment premium ends
- March 5, 2033 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- KeyBank National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Value at securitization
- $508.2M (Jul 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.12x | 2.17x |
| Occupancy | 95% | 89% |
| Net operating income (annualized from 3 months) | $36.0M | $36.9M |
| Debt yield | 100.2% |
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 BBCMS Mortgage Trust 2024-C26 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.
What the filing shows
- Occupancy has fallen from 95% when the loan was securitized to 89%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $36.8M | Current | No | 2.17x | 89% |
| August 2026 | $36.8M | Current | No | 2.17x | 89% |
| July 2026 | $36.8M | Current | No | 2.17x | 89% |
| June 2026 | $36.8M | Current | No | 1.17x | 89% |
| May 2026 | $36.8M | Current | No | 1.99x | 96% |
| April 2026 | $36.8M | Current | No | 1.99x | 96% |
| March 2026 | $36.8M | Current | No | 1.99x | 96% |
| February 2026 | $36.8M | Current | No | 1.99x | 96% |
| January 2026 | $36.8M | Current | No | 1.99x | 96% |
| December 2025 | $36.8M | Current | No | 1.99x | 96% |
| November 2025 | $36.8M | Current | No | 1.99x | 96% |
| October 2025 | $36.8M | Current | No | 1.99x | 96% |
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 |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-2 | 9 | $29,570,077 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2024-C26 | 35 | $7,228,241 | Sep 2026 | SEC filing, October 1, 2026 |
Other retail loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Fashion Valley Mall | San Diego, CA | Retail | $450.0M | 5.73% | Jun 2033 | 3.72x | 99% | Current |
| Arundel Mills And Marketplace | Hanover, MD | Retail | $360.0M | 7.701% | Nov 2033 | n/a | n/a | Current |
| Woodfield Mall | Schaumburg, IL | Retail | $254.0M | 6.335% | Dec 2033 | 2.47x | 94% | Current |
| Northwoods Marketplace | North Charleston, SC | Retail | $219.5M | 6.446% | Sep 2033 | n/a | n/a | Current |
| Great Lakes Crossing Outlets | Auburn Hill, MI | Retail | $180.0M | 6.521% | Feb 2033 | 2.84x | 94% | Current |
| Rhino Retail Portfolio - Tranche 2 | Turlock, CA | Retail | $100.5M | 6.975% | Aug 2033 | n/a | n/a | Current |
| Brier Creek Commons | Raleigh, NC | Retail | $82.2M | 6.91% | May 2033 | 1.44x | 100% | Current |
| Outlet Shoppes at Atlanta | Woodstock, GA | Retail | $79.3M | 7.85% | Oct 2033 | 1.92x | 94% | 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.