Multifamily · Toledo, Ohio
Spring Hollow Apartments
Spring Hollow Apartments is financed with a $25.9M CMBS loan at 5.10% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,939,750
- Original balance (same notes)
- $27,000,000
- Interest rate
- 5.10% fixed
- Originated
- February 6, 2019
- Maturity
- February 6, 2029
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- CREFI
Status
- Payment status
- Not reported
- Special servicing
- Transferred March 11, 2024, returned May 7, 2026
- Workout strategy
- Resolved
- Modified
- Yes, most recently February 25, 2026
- Defeasance
- None reported
The property
- Address
- 5987 Thunder Hollow Drive, Toledo, OH 43615
- Metro
- Toledo, OH
- Units, rooms or beds
- 506
- Built
- 1981
- Value at securitization
- $38.5M (Jan 2022)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | -0.88x |
| Occupancy | 92% | 38% |
| Net operating income | n/a | $-1.6M |
| Debt yield | -6.0% |
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 Benchmark 2019-B10 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 38%.
- At -0.88x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $21.3M (October 27, 2025), against $38.5M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $25.9M | Not reported | No | -0.88x | 38% |
| August 2026 | $25.9M | Not reported | No | -0.88x | 38% |
| July 2026 | $25.9M | Not reported | No | -0.88x | 38% |
| June 2026 | $25.9M | Not reported | No | -0.88x | 38% |
| May 2026 | $25.9M | Not reported | No | 0.98x | 61% |
| April 2026 | $25.9M | Not reported | Yes | 0.98x | 61% |
| March 2026 | $25.9M | Not reported | Yes | 0.98x | 61% |
| February 2026 | $26.3M | 90+ days delinquent | Yes | 0.98x | 61% |
| January 2026 | $26.3M | 90+ days delinquent | Yes | 0.98x | 61% |
| December 2025 | $26.3M | 90+ days delinquent | Yes | 0.98x | 61% |
| November 2025 | $26.3M | 90+ days delinquent | Yes | 0.98x | 61% |
| October 2025 | $26.3M | 90+ days delinquent | Yes | 0.98x | 61% |
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.
Special-servicing history
- Transferred to the special servicer March 11, 2024, returned to the master servicer May 7, 2026.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2019-B10 Mortgage Trust | 18 | $25,939,750 | Sep 2026 | SEC filing, October 1, 2026 |
Other Toledo loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Staybridge Suites Toledo | Maumee, OH | Hotel | $8.3M | 7.61% | Jan 2029 | 1.80x | 73% | Current |
| Holland Art Van | Holland, OH | Retail | $8.0M | 5.45% | Jan 2029 | 0.85x | 100% | Current |
| Stor365 | Toledo, OH | Self storage | $2.1M | 7.987% | May 2029 | 1.12x | 95% | 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.