Retail · Colorado Springs, Colorado
South Academy Highlands
South Academy Highlands is financed with a $6.3M CMBS loan at 5.24% that reaches maturity on April 1, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,337,571
- Original balance (same notes)
- $7,350,000
- Interest rate
- 5.24% fixed
- Originated
- March 2, 2018
- Maturity
- April 1, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- March 31, 2020
- Prepayment premium ends
- December 31, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 4451 & 4465 Venetucci Boulevard, Colorado Springs, CO 80906
- Metro
- Colorado Springs, CO
- Rentable area
- 22,898 sq ft
- Built
- 2015
- Largest tenants
- Cheyenne Moutain Liquors; Patriot Tactical; Qdoba Mexican Grill
- Value at securitization
- $10.0M (Jan 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.36x | 1.68x |
| Occupancy | 93% | 93% |
| Net operating income (annualized from 6 months) | $664K | $824K |
| Debt yield | 13.0% |
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 BANK 2018-BNK11 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
- Net operating income is 24% above the underwritten figure ($824K a year against $664K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.36x at securitization to 1.68x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.3M | Current | No | 1.68x | 93% |
| August 2026 | $6.3M | Current | No | 1.63x | 93% |
| July 2026 | $6.4M | Current | No | 1.63x | 93% |
| June 2026 | $6.4M | Current | No | 1.63x | 93% |
| May 2026 | $6.4M | Current | No | 1.65x | 100% |
| April 2026 | $6.4M | Current | No | 1.65x | 100% |
| March 2026 | $6.4M | Current | No | 1.43x | 100% |
| February 2026 | $6.4M | Current | No | 1.43x | 100% |
| January 2026 | $6.4M | Current | No | 1.43x | 100% |
| December 2025 | $6.4M | Current | No | 1.34x | 100% |
| November 2025 | $6.5M | Current | No | 1.34x | 100% |
| October 2025 | $6.5M | Current | No | 1.34x | 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 |
|---|---|---|---|---|
| BANK 2018-BNK11 | 19 | $6,337,571 | Sep 2026 | SEC filing, October 1, 2026 |
Other Colorado Springs loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Hancock Plaza Colorado Springs | Colorado Springs, CO | Retail | $19.9M | 5.43% | Nov 2028 | 1.36x | 93% | Current |
| Academy Professional Campus | Colorado Springs, CO | Office | $5.8M | 5.04% | Jul 2028 | 2.12x | 80% | 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.