Retail · Pewaukee, Wisconsin
Silvernail Plaza
Silvernail Plaza is financed with a $8.1M CMBS loan at 6.10% that reaches maturity on June 6, 2029, in 2 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,100,000
- Original balance (same notes)
- $8,100,000
- Interest rate
- 6.10% fixed
- Originated
- June 7, 2024
- Maturity
- June 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2028
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Barclays Capital Real Estate Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2160 Silvernail Road, Pewaukee, WI 53072
- Metro
- Milwaukee-Waukesha, WI
- Rentable area
- 116,135 sq ft
- Built
- 1984
- Largest tenants
- Metro Market; Dollar Tree; Viva Dance Collective
- Value at securitization
- $12.8M (May 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.86x | 0.95x |
| Occupancy | 94% | 95% |
| Net operating income (annualized from 3 months) | $930K | $474K |
| Debt yield | 5.9% |
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 Benchmark 2024-V8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 2026.
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
- Net operating income is 49% below the underwritten figure ($474K a year against $930K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.86x at securitization to 0.95x on the latest statements.
- At 0.95x, the property's reported NOI does not cover its debt service.
- The filing gives Dec 2027 as the lease end date for the largest tenant (Metro Market), 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 | $8.1M | Current | No | 0.95x | 95% |
| August 2026 | $8.1M | Current | No | 0.95x | 95% |
| July 2026 | $8.1M | Current | No | 0.95x | 95% |
| June 2026 | $8.1M | Current | No | 2.11x | 95% |
| May 2026 | $8.1M | Current | No | 2.11x | 95% |
| April 2026 | $8.1M | Current | No | 2.11x | 95% |
| March 2026 | $8.1M | Current | No | 2.08x | 95% |
| February 2026 | $8.1M | Current | No | 2.08x | 95% |
| January 2026 | $8.1M | Current | No | 2.01x | 95% |
| December 2025 | $8.1M | Current | No | 2.01x | 95% |
| November 2025 | $8.1M | Current | No | 2.01x | 95% |
| October 2025 | $8.1M | Current | No | 2.01x | 95% |
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 |
|---|---|---|---|---|
| Benchmark 2024-V8 Mortgage Trust | 28 | $8,100,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Milwaukee-Waukesha loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Kimpton Journeyman Hotel | Milwaukee, WI | Hotel | $30.0M | 7.38% | Oct 2029 | -0.47x | 57% | Current |
| 401 & 395 North Executive Drive | Brookfield, WI | Office | $27.0M | 3.89% | Aug 2029 | n/a | n/a | Delinquent |
| Arctic Glacier - Menomonee | Menomonee Falls, WI | Industrial | $24.6M | 4.66% | Apr 2029 | n/a | n/a | Current |
| Pick N Save - Oconomowoc | Oconomowoc, WI | Retail | $19.9M | 4.032% | Aug 2029 | n/a | n/a | Current |
| Shoppes at Fox River | Waukesha, WI | Retail | $17.9M | 4.48% | Mar 2029 | n/a | n/a | Current |
| Embassy Suites Milwaukee Brookfield | Brookfield, WI | Hotel | $16.0M | 3.91% | Aug 2029 | 0.70x | 73% | Current |
| DentaQuest | Milwaukee, WI | Office | $13.4M | 4.887% | Mar 2029 | n/a | n/a | Current |
| 241 North Broadway | Milwaukee, WI | Office | $11.8M | 4.051% | Aug 2029 | 1.23x | 83% | 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.