Multifamily portfolio, 4 properties · Multiple locations
Southern Flexible Apartment Portfolio II
This portfolio is financed with a $14.7M CMBS loan at 3.75% that reaches maturity on October 1, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $14,700,000
- Original balance (same notes)
- $14,700,000
- Interest rate
- 3.75% fixed
- Originated
- September 7, 2021
- Maturity
- October 1, 2031
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- June 30, 2031
- Master servicer
- Trimont LLC
- Originator
- Bank of America, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 455
- Value at securitization
- $24.7M
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.76x | 3.29x |
| Occupancy | 92% | 86% |
| Net operating income (annualized from 3 months) | $2.3M | $1.8M |
| Debt yield | 12.5% |
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 2021-BNK36 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 fallen from 92% when the loan was securitized to 86%.
- Net operating income is 19% below the underwritten figure ($1.8M a year against $2.3M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.76x at securitization to 3.29x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.7M | Current | No | 3.29x | 86% |
| August 2026 | $14.7M | Current | No | 3.29x | 86% |
| July 2026 | $14.7M | Current | No | 3.29x | 86% |
| June 2026 | $14.7M | Current | No | 3.17x | 83% |
| May 2026 | $14.7M | Current | No | 3.17x | 83% |
| April 2026 | $14.7M | Current | No | 3.22x | 88% |
| March 2026 | $14.7M | Current | No | 3.22x | 88% |
| February 2026 | $14.7M | Current | No | 3.22x | 88% |
| January 2026 | $14.7M | Current | No | 3.22x | 88% |
| December 2025 | $14.7M | Current | No | 3.22x | 88% |
| November 2025 | $14.7M | Current | No | 3.20x | 88% |
| October 2025 | $14.7M | Current | No | 3.20x | 88% |
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 2021-BNK36 | 21 | $14,700,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other multifamily loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cambridge Commons | Indianapolis, IN | Multifamily | $134.0M | 3.724% | Nov 2031 | n/a | n/a | Current |
| 2 Washington Street | New York, NY | Multifamily | $131.5M | 3.45% | Aug 2031 | n/a | n/a | With the special servicer and 90+ days delinquent |
| The Atlantic | Philadelphia, PA | Multifamily | $125.0M | 3.456% | Feb 2031 | 1.26x | 95% | Current |
| Shore Front Parkway Apartments | Rockaway, NY | Multifamily | $94.5M | 6.56% | Jun 2031 | n/a | n/a | Current |
| Cottage Cove Apartments | Miami, FL | Multifamily | $87.5M | 6.45% | Feb 2031 | n/a | n/a | Current |
| Admiral's Cove | Haverstraw, NY | Multifamily | $84.0M | 7.05% | Mar 2031 | n/a | n/a | Current |
| Prospect Place Apartments | Brooklyn, NY | Multifamily | $83.0M | 6.39% | May 2031 | n/a | n/a | Current |
| London Terrace Towers Owners, Inc. | New York, NY | Multifamily | $82.0M | 2.32% | Nov 2031 | 1.63x | 93% | 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.