Office · Austin, Texas
Shepherd Mountain Plaza
Shepherd Mountain Plaza is financed with a $11.5M CMBS loan at 2.68% that reaches maturity on October 1, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $11,496,334
- Original balance (same notes)
- $12,000,000
- Interest rate
- 2.68% fixed
- Originated
- September 27, 2021
- Maturity
- October 1, 2031
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- May 31, 2031
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Mortgage Capital Holdings LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 6034 West Courtyard Drive, Austin, TX 78730
- Metro
- Austin-Round Rock-San Marcos, TX
- Rentable area
- 101,036 sq ft
- Built
- 1985
- Largest tenants
- Raymond Jones & Associates LL; Association Member Benefits Association LLC; Burnett Turner PLLC
- Value at securitization
- $32.6M (Sep 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.30x | 3.30x |
| Occupancy | 80% | 85% |
| Net operating income (annualized from 6 months) | $1.9M | $1.9M |
| Debt yield | 16.8% |
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 2021-BNK37 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 80% when the loan was securitized to 85%.
- The filing gives Jul 2030 as the lease end date for the largest tenant (Raymond Jones & Associates LL), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.5M | Current | No | 3.30x | 85% |
| August 2026 | $11.5M | Current | No | 3.30x | 85% |
| July 2026 | $11.5M | Current | No | 3.28x | 85% |
| June 2026 | $11.6M | Current | No | 3.28x | 85% |
| May 2026 | $11.6M | Current | No | 3.28x | 85% |
| April 2026 | $11.6M | Current | No | 3.05x | 87% |
| March 2026 | $11.6M | Current | No | 3.05x | 87% |
| February 2026 | $11.7M | Current | No | 2.99x | 87% |
| January 2026 | $11.7M | Current | No | 2.99x | 87% |
| December 2025 | $11.7M | Current | No | 2.99x | 87% |
| November 2025 | $11.7M | Current | No | 2.99x | 87% |
| October 2025 | $11.7M | Current | No | 2.94x | 87% |
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 2021-BNK37 | 28 | $11,496,334 | Sep 2026 | SEC filing, September 29, 2026 |
Other Austin-Round Rock-San Marcos loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Domain | Austin, TX | Retail | $210.0M | 3.094% | Jul 2031 | 6.51x | 98% | Current |
| 111 Congress | Austin, TX | Office | $116.5M | 7.135% | Aug 2031 | n/a | n/a | Current |
| The Mirage at San Marcos | San Marcos, TX | Multifamily | $35.0M | 5.265% | May 2031 | n/a | n/a | Current |
| Frontera Crossing | Austin, TX | Office | $27.6M | 7.366% | May 2031 | n/a | n/a | Current |
| Crescent Shopping Center | Austin, TX | Retail | $24.4M | 4.355% | May 2031 | 2.99x | 99% | Current |
| North Park Shopping Center, Austin | Austin, TX | Retail | $14.5M | 6.28% | Jul 2031 | n/a | n/a | Current |
| Round Rock | Round Rock, TX | Office | $12.2M | 3.92% | Feb 2031 | n/a | n/a | Current |
| 8900 South Congress | Austin, TX | Retail | $9.6M | 3.839% | Dec 2031 | 2.04x | 100% | Current |
All loans maturing in 2031 · All Austin-Round Rock-San Marcos 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.