Retail · Reading, Pennsylvania
Shillington Shopping Center
Shillington Shopping Center is financed with a $7.1M CMBS loan at 5.20% that reaches maturity on February 1, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,072,734
- Original balance (same notes)
- $7,590,000
- Interest rate
- 5.20% fixed
- Originated
- January 31, 2019
- Maturity
- February 1, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- September 30, 2028
- Master servicer
- Midland
- Originator
- CCRE
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 502 E Lancaster Ave, Reading, PA 19607
- Rentable area
- 72,604 sq ft
- Built
- 1967, renovated 2012
- Largest tenants
- Keystone NFP Shillington, LLC (Planet Fitness); Family Dollar; Pet Supplies Plus #9025
- Value at securitization
- $10.5M (Dec 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.76x | 2.04x |
| Occupancy | 87% | 100% |
| Net operating income (annualized from 6 months) | $879K | $2.1M |
| Debt yield | 29.0% |
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 Morgan Stanley Capital I Trust 2019-L2 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 87% when the loan was securitized to 100%.
- Net operating income is 134% above the underwritten figure ($2.1M a year against $879K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.76x at securitization to 2.04x on the latest statements.
- The filing gives Dec 2028 as the lease end date for the largest tenant (Keystone NFP Shillington, LLC (Planet Fitness)), 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 | $7.1M | Current | No | 2.04x | 100% |
| August 2026 | $7.1M | Current | No | 2.04x | 100% |
| July 2026 | $7.1M | Current | No | n/a | n/a |
| June 2026 | $7.1M | Current | No | n/a | n/a |
| May 2026 | $7.1M | Current | No | n/a | n/a |
| April 2026 | $7.1M | Current | No | 1.97x | 100% |
| March 2026 | $7.1M | Current | No | 1.97x | 100% |
| February 2026 | $7.1M | Current | No | 1.97x | 100% |
| January 2026 | $7.2M | Current | No | 1.99x | 100% |
| December 2025 | $7.2M | Current | No | 1.99x | 100% |
| November 2025 | $7.2M | Current | No | 2.08x | 100% |
| October 2025 | $7.2M | Current | No | 2.08x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L2 | 38 | $7,072,734 | Sep 2026 | SEC filing, October 2, 2026 |
Other Pennsylvania loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Broadcasting Square | Wyomissing, PA | Retail | $62.0M | 3.16% | Nov 2029 | 4.48x | 97% | Current |
| Green Hills Corporate Center | Reading, PA | Office | $61.5M | 4.35% | May 2029 | 2.24x | 100% | Current |
| Kenhorst Plaza | Reading, PA | Retail | $16.5M | 7.04% | Nov 2029 | 1.46x | 98% | Current |
| Shelbourne Square | Reading, PA | Retail | $11.2M | 3.963% | Dec 2029 | 2.35x | 95% | Current |
| Maxatawny Marketplace | Kutztown, PA | Retail | $6.8M | 5.20% | Mar 2029 | 2.18x | 100% | Current |
| Weis Plaza | Kutztown, PA | Retail | $4.8M | 5.44% | Feb 2029 | 1.58x | 98% | 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.