Multifamily · Modesto, California
Spring Glen Apartments
Spring Glen Apartments is financed with a $7.1M CMBS loan at 3.596% that reaches maturity on January 6, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,140,000
- Original balance (same notes)
- $7,140,000
- Interest rate
- 3.596% fixed
- Originated
- December 22, 2020
- Maturity
- January 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2030
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1613 Scenic Drive, Modesto, CA 95355
- Metro
- Modesto, CA
- Units, rooms or beds
- 95
- Built
- 1965, renovated 2019
- Value at securitization
- $11.9M (Jul 2020)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.92x | n/a |
| Occupancy | 99% | n/a |
| Net operating income | $759K | n/a |
Watch flags
Computed from the BENCHMARK 2021-B23 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.1M | Current | No | n/a | n/a |
| August 2026 | $7.1M | Current | No | n/a | n/a |
| July 2026 | $7.1M | Current | No | n/a | n/a |
| June 2026 | $7.1M | Current | No | n/a | n/a |
| May 2026 | $7.1M | Current | No | n/a | n/a |
| April 2026 | $7.1M | Current | No | 3.47x | n/a |
| March 2026 | $7.1M | Current | No | 3.43x | 94% |
| February 2026 | $7.1M | Current | No | 3.43x | 94% |
| January 2026 | $7.1M | Current | No | 3.43x | 94% |
| December 2025 | $7.1M | Current | No | 3.43x | 94% |
| November 2025 | $7.1M | Current | No | 3.29x | 96% |
| October 2025 | $7.1M | Current | No | 3.29x | 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 |
|---|---|---|---|---|
| BENCHMARK 2021-B23 MORTGAGE TRUST | 41 | $7,140,000 | Sep 2026 | SEC filing, September 30, 2026 |
Other Modesto loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Las Casitas MHP | Ceres, CA | Manufactured housing | $14.3M | 6.838% | May 2031 | n/a | n/a | Current |
| Thrive Living Home Apartments | Ceres, CA | Multifamily | $6.0M | 4.522% | Apr 2031 | 1.53x | 100% | Current |
| Storage Star Modesto | Modesto, CA | Self storage | $4.7M | 4.181% | May 2031 | 1.80x | 80% | Current |
| Security Public Storage - Ceres | Ceres, CA | Self storage | $4.3M | 3.56% | Sep 2031 | 1.39x | 85% | 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.