Industrial · Brownsville, Texas
Sealy Distribution Center
Sealy Distribution Center is financed with a $15.5M CMBS loan at 4.78% that reaches maturity on November 1, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $15,450,951
- Original balance (same notes)
- $17,100,000
- Interest rate
- 4.78% fixed
- Originated
- October 26, 2018
- Maturity
- November 1, 2028
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- June 30, 2028
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1000 and 1900 Billy Mitchell Boulevard; 600, 615, 700 and 800 Elca Lane; 2000 Texas Avenue, Brownsville, TX 78521
- Metro
- Brownsville-Harlingen, TX
- Rentable area
- 746,136 sq ft
- Built
- 1977
- Largest tenants
- Trico Technologies Corporation; Rich Products; SPACE EXPLORATION TECH
- Value at securitization
- $24.0M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.23x | 3.63x |
| Occupancy | 93% | 99% |
| Net operating income (annualized from 6 months) | $2.4M | $3.9M |
| Debt yield | 25.4% |
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 2018-BNK15 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 risen from 93% when the loan was securitized to 99%.
- Net operating income is 64% above the underwritten figure ($3.9M a year against $2.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.23x at securitization to 3.63x on the latest statements.
- The filing gives Jul 2026 as the lease end date for the largest tenant (Trico Technologies Corporation), before the loan matures. Lenders look hard at that rollover.
The last 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $15.5M | Current | No | 3.63x | 99% |
| August 2026 | $15.5M | Current | No | 3.63x | 99% |
| June 2026 | $15.5M | Current | No | 2.60x | 99% |
| May 2026 | $15.6M | Current | No | 2.60x | 99% |
| April 2026 | $15.6M | Current | No | 3.24x | 99% |
| March 2026 | $15.6M | Current | No | 3.24x | 99% |
| February 2026 | $15.6M | Current | No | 2.91x | 99% |
| January 2026 | $15.7M | Current | No | 2.91x | 99% |
| December 2025 | $15.7M | Current | No | 2.91x | 99% |
| November 2025 | $15.7M | Current | No | 2.91x | 99% |
| October 2025 | $15.7M | Current | No | 2.81x | 99% |
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 2018-BNK15 | 20 | $15,450,951 | Sep 2026 | SEC filing, September 29, 2026 |
Other Brownsville-Harlingen loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Residence Inn Harlingen | Harlingen, TX | Hotel | $7.9M | 5.623% | Jun 2028 | 3.38x | 93% | Current |
| Boca Chica Plaza | Brownsville, TX | Retail | $5.1M | 5.05% | Mar 2028 | 2.38x | 98% | Current |
| Walgreens - Harlingen, TX | Harlingen, TX | Retail | $3.3M | 4.84% | Feb 2028 | 1.89x | 100% | Current |
| Wellington Plaza | Brownsville, TX | Office | $3.1M | 5.86% | Nov 2028 | 1.53x | 88% | Current |
All loans maturing in 2028 · All Brownsville-Harlingen loans
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.