Retail · Austin, Texas
South Brook Town Center
South Brook Town Center is financed with a $6.9M CMBS loan at 5.058% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $6,868,419
- Original balance (same notes)
- $7,285,000
- Interest rate
- 5.058% fixed
- Originated
- September 7, 2018
- Maturity
- October 6, 2028
- Payments
- Interest only for 48 months, then amortizing
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Midland
- Originator
- SMC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently May 6, 2020
- Defeasance
- None reported
The property
- Address
- 6506 Bluff Springs Road, Austin, TX 78744
- Metro
- Austin-Round Rock-San Marcos, TX
- Rentable area
- 54,651 sq ft
- Built
- 1994
- Largest tenants
- Excell Fitness IX, LLC; DA HUI &SUN SYE; State of Texas, TFC d/k Suite 180
- Value at securitization
- $11.1M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.53x | 1.64x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $724K | $1.6M |
| Debt yield | 22.7% |
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 2018-L1 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Modified
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 115% above the underwritten figure ($1.6M a year against $724K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.53x at securitization to 1.64x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.9M | Late payment but less than 30 days delinquent | No | 1.64x | 100% |
| August 2026 | $6.9M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| July 2026 | $6.9M | Current | No | n/a | n/a |
| June 2026 | $6.9M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| May 2026 | $6.9M | Current | No | n/a | n/a |
| April 2026 | $6.9M | Current | No | 1.79x | 100% |
| March 2026 | $6.9M | Current | No | 1.79x | 100% |
| February 2026 | $6.9M | Current | No | 1.79x | 100% |
| January 2026 | $6.9M | Current | No | 1.79x | 100% |
| December 2025 | $6.9M | Current | No | n/a | n/a |
| November 2025 | $7.0M | Current | No | n/a | n/a |
| October 2025 | $7.0M | Current | No | n/a | n/a |
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 2018-L1 | 32 | $6,868,419 | Sep 2026 | SEC filing, October 2, 2026 |
Other Austin-Round Rock-San Marcos loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Starburst Apartments | Austin, TX | Multifamily | $110.0M | 7.37% | May 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 13785 Research Boulevard | Austin, TX | Office | $65.0M | 5.215% | Mar 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 801 Barton Springs | Austin, TX | Office | $34.5M | 4.015% | May 2028 | 0.55x | 100% | Current |
| Staybridge Suites - Austin Airport | Austin, TX | Hotel | $10.5M | 8.12% | Nov 2028 | n/a | n/a | With the special servicer |
| Homewood Suites San Marcos | San Marcos, TX | Hotel | $10.0M | 6.83% | Dec 2028 | 1.71x | 72% | Current |
| Staybridge Suites Austin | Austin, TX | Hotel | $10.0M | 5.17% | Jul 2028 | n/a | n/a | Current |
| The Yard | Austin, TX | Industrial | $9.9M | 4.17% | Feb 2028 | n/a | n/a | Current |
| Norwood Park | Austin, TX | Retail | $5.5M | 5.19% | May 2028 | 1.74x | 88% | Current |
All loans maturing in 2028 · 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.