Retail · Indianapolis, Indiana
Southport Commons
4850 East Southport Road, Indianapolis, IN · Google Maps
Southport Commons is financed with a $21.6M CMBS loan at 6.654% that reaches maturity on April 6, 2036, in 9 years and 5 months. As of the Nov 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $21,614,500
- Original balance (same notes)
- $21,614,500
- Interest rate
- 6.654% fixed
- Originated
- March 10, 2026
- Maturity
- April 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 5, 2035
- 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
- 4850 East Southport Road, Indianapolis, IN 46237
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Rentable area
- 200,056 sq ft
- Built
- 2001
- Largest tenants
- Kohl's + Sephora; Combat Ops; Urban Styles Furniture
- Value at securitization
- $31.1M (Aug 2025)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.60x | n/a |
| Occupancy | 95% | n/a |
| Net operating income | $2.3M | n/a |
Comparable loans: retail properties in Indianapolis-Carmel-Greenwood, IN, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-B44 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC November 3, 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
- The filing gives Jan 2033 as the lease end date for the largest tenant (Kohl's + Sephora), before the loan matures. Lenders look hard at that rollover.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $3.3M | n/a | |
| Operating expenses | $960K | n/a | |
| Net operating income | $2.3M | n/a | |
| Net cash flow | $2.2M | n/a | |
| Expense ratio | 29.1% | n/a |
From the servicer's Schedule AL report; 200,056 sq ft.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Kohl's + Sephora | 86,584 | 43% | Jan 2033 |
| Combat Ops | 24,322 | 12% | Apr 2033 |
| Urban Styles Furniture | 23,500 | 12% | May 2031 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-B44 Mortgage Trust | 11 | $21,614,500 | Nov 2026 | SEC filing, November 3, 2026 |
Other Indianapolis-Carmel-Greenwood loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Crestwood South Apartments | Indianapolis, IN | Multifamily | $18.0M | 6.058% | Jan 2036 | 2.29x | 86% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.