Multifamily · Houston, Texas
Steeples Apartments
Steeples Apartments is financed with a $28.3M CMBS loan at 3.89% that reaches maturity on January 1, 2030, in 3 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $28,300,000
- Original balance (same notes)
- $28,300,000
- Interest rate
- 3.89% fixed
- Originated
- December 20, 2019
- Maturity
- January 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2021
- Prepayment premium ends
- August 31, 2029 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred May 21, 2026
- Workout strategy
- TBD
- Defeasance
- Partly defeased
The property
- Address
- 2151 South Kirkwood Road, Houston, TX 77077
- Metro
- Houston-Pasadena-The Woodlands, TX
- Units, rooms or beds
- 409
- Built
- 1982, renovated 2017
- Value at securitization
- $40.6M (Nov 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.95x | 1.22x |
| Occupancy | 89% | 90% |
| Net operating income (annualized from 3 months) | $2.2M | $1.4M |
| Debt yield | 4.8% |
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 2020-BNK26 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since June 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
- Net operating income is 37% below the underwritten figure ($1.4M a year against $2.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.95x at securitization to 1.22x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $28.3M | 90+ days delinquent | Yes | 1.22x | 90% |
| August 2026 | $28.3M | 60-89 days delinquent | Yes | 1.22x | 90% |
| July 2026 | $28.3M | 30-59 days delinquent | Yes | 1.22x | 90% |
| June 2026 | $28.3M | Late payment but less than 30 days delinquent | Yes | 1.22x | 90% |
| May 2026 | $28.3M | Current | No | 1.41x | 84% |
| April 2026 | $28.3M | Current | No | 1.41x | 84% |
| March 2026 | $28.3M | Current | No | 1.41x | 84% |
| February 2026 | $28.3M | Current | No | 1.48x | 89% |
| January 2026 | $28.3M | Current | No | 1.48x | 89% |
| December 2025 | $28.3M | Current | No | 1.48x | 89% |
| November 2025 | $28.3M | Current | No | 1.48x | 89% |
| October 2025 | $28.3M | Current | No | 1.48x | 89% |
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 May 21, 2026, still there.
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 |
|---|---|---|---|---|
| BANK 2020-BNK26 | 12 | $28,300,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 5712 Old River | Old River Winfree, TX | Self storage | $60.0M | 5.808% | Oct 2030 | n/a | n/a | Current |
| Waterford Grove Apartments | Houston, TX | Multifamily | $60.0M | 6.567% | Mar 2030 | 0.88x | 71% | Delinquent |
| Hotel ZaZa | Houston, TX | Hotel | $58.4M | 3.80% | Mar 2030 | 3.56x | 62% | Current |
| Rayford Square | Spring, TX | Retail | $57.6M | 3.595% | Jan 2030 | n/a | n/a | Current |
| Providence at Heights & Legacy at Westchase | Houston, TX | Multifamily | $50.5M | 6.36% | Jun 2030 | 1.18x | 93% | With the special servicer |
| Trails at Dominion Park | Houston, TX | Multifamily | $42.7M | 6.20% | Jan 2030 | n/a | n/a | Current |
| Chasewood Technology Park | Houston, TX | Office | $41.7M | 3.914% | Sep 2030 | 1.97x | 69% | Current |
| Haven at Bellaire | Richmond, TX | Multifamily | $41.6M | 6.262% | Oct 2030 | 1.07x | 91% | With the special servicer and 60-89 days delinquent |
All loans maturing in 2030 · All Houston-Pasadena-The Woodlands loans
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.