Retail · Las Vegas, Nevada
South Shores Retail Center
South Shores Retail Center is financed with a $4.9M CMBS loan at 3.75% that reaches maturity on September 6, 2029, in 2 years and 10 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $4,923,486
- Original balance (same notes)
- $5,740,000
- Interest rate
- 3.75% fixed
- Originated
- August 21, 2019
- Maturity
- September 6, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- March 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 8510-8584 W Lake Mead Blvd, Las Vegas, NV 89128
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 41,110 sq ft
- Built
- 1992
- Largest tenants
- Non Collateral Savers, Inc. (Store 1161; Soulfire Dance Studio; Timothy P. Kuptz
- Value at securitization
- $7.7M (Jul 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.92x | 2.81x |
| Occupancy | 92% | 99% |
| Net operating income (annualized from 6 months) | $612K | $1.8M |
| Debt yield | 36.7% |
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 GS Mortgage Securities Trust 2019-GSA1 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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 92% when the loan was securitized to 99%.
- Net operating income is 196% above the underwritten figure ($1.8M a year against $612K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.92x at securitization to 2.81x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $4.9M | Current | No | 2.81x | 99% |
| September 2026 | $4.9M | Current | No | 2.81x | 99% |
| August 2026 | $4.9M | Current | No | 2.81x | 99% |
| July 2026 | $5.0M | Current | No | n/a | n/a |
| June 2026 | $5.0M | Current | No | n/a | n/a |
| May 2026 | $5.0M | Current | No | n/a | n/a |
| April 2026 | $5.0M | Current | No | 2.93x | 97% |
| March 2026 | $5.0M | Current | No | 2.93x | 97% |
| February 2026 | $5.0M | Current | No | 2.93x | 97% |
| January 2026 | $5.0M | Current | No | 2.99x | 96% |
| December 2025 | $5.0M | Current | No | 2.99x | 96% |
| November 2025 | $5.0M | Current | No | 2.99x | 96% |
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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GSA1 | 39 | $4,923,486 | Oct 2026 | SEC filing, October 22, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Grand Canal Shoppes | Las Vegas, NV | Retail | $710.0M | 3.741% | Jul 2029 | 2.98x | 85% | Current |
| Bellagio Hotel and Casino | Las Vegas, NV | Hotel | $600.0M | 3.17% | Dec 2029 | 6.51x | 97% | Current |
| Showcase I | Las Vegas, NV | Retail | $169.5M | 6.36% | Jul 2029 | 1.18x | 99% | Current |
| Galleria At Sunset | Henderson, NV | Retail | $47.6M | 8.46% | Mar 2029 | 2.05x | 100% | Current |
| Hilton Dual Brand Las Vegas | Las Vegas, NV | Hotel | $46.0M | 7.93% | Apr 2029 | n/a | n/a | Current |
| Shadow Mountain Marketplace | Las Vegas, NV | Retail | $46.0M | 5.14% | Feb 2029 | 1.39x | 94% | Current |
| Oasis Plaza | Las Vegas, NV | Mixed use | $45.0M | 6.70% | Aug 2029 | 1.33x | 93% | Current |
| Rainbow Sunset Pavilion | Las Vegas, NV | Office | $39.4M | 5.145% | Jan 2029 | 1.83x | 87% | Current |
All loans maturing in 2029 · All Las Vegas-Henderson-North Las Vegas loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.