Mixed use · Chapel Hill, North Carolina
The Courtyard of Chapel Hill
The Courtyard of Chapel Hill is financed with a $7.4M CMBS loan at 3.78% that reaches maturity on July 1, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,378,000
- Original balance (same notes)
- $7,378,000
- Interest rate
- 3.78% fixed
- Originated
- June 26, 2019
- Maturity
- July 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 31, 2028
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 431 West Franklin Street, Chapel Hill, NC 27516
- Metro
- Durham-Chapel Hill, NC
- Rentable area
- 34,174 sq ft
- Built
- 1946, renovated 2012
- Largest tenants
- 20 Units - Managed by Preiss; Ay Por Dios LLC; Curryblossom Creations LLC
- Value at securitization
- $11.1M (Jun 2019)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.74x | 2.98x |
| Occupancy | 100% | 100% |
| Net operating income | $775K | $844K |
| Debt yield | 11.4% |
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 2019-BNK20 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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
- Net operating income is 9% above the underwritten figure ($844K a year against $775K).
- Debt service coverage moved from 2.74x at securitization to 2.98x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.4M | Current | No | 2.98x | 100% |
| August 2026 | $7.4M | Current | No | 2.98x | 100% |
| July 2026 | $7.4M | Current | No | 2.98x | 100% |
| June 2026 | $7.4M | Current | No | 2.98x | 100% |
| May 2026 | $7.4M | Current | No | 2.98x | 100% |
| April 2026 | $7.4M | Current | No | 2.98x | 100% |
| March 2026 | $7.4M | Current | No | 2.15x | 91% |
| February 2026 | $7.4M | Current | No | 2.15x | 91% |
| January 2026 | $7.4M | Current | No | 2.15x | 91% |
| December 2025 | $7.4M | Current | No | 2.15x | 91% |
| November 2025 | $7.4M | Current | No | 2.15x | 91% |
| October 2025 | $7.4M | Current | No | 2.15x | 91% |
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 2019-BNK20 | 41 | $7,378,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Durham-Chapel Hill loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 4813, 4815 & 4721 Emperor Boulevard and 1005, 1007 & 1009 Slater Road | Durham, NC | Office | $108.0M | 7.364% | Mar 2029 | n/a | n/a | Current |
| Exchange On Erwin | Durham, NC | Mixed use | $75.5M | 3.421% | Dec 2029 | 0.99x | n/a | Current |
| C.I.G. Multifamily Portfolio | Roxboro, NC | Multifamily | $24.5M | 6.984% | Jul 2029 | n/a | n/a | Current |
| North Carolina Technical Park | Durham, NC | Industrial | $22.2M | 4.50% | Jul 2029 | 1.25x | 58% | Current |
| Marriott Durham City Center | Durham, NC | Hotel | $19.5M | 8.05% | Sep 2029 | 1.84x | n/a | Current |
| Castalia at Meadowmont | Chapel Hill, NC | Office | $8.8M | 3.669% | Dec 2029 | 3.31x | 96% | Current |
| Bee Safe Storage - Creekside | Apex, NC | Self storage | $7.5M | 6.964% | Feb 2029 | 1.58x | 96% | Current |
| Vilcom Office | Chapel Hill, NC | Office | $4.9M | 4.435% | Dec 2029 | 1.39x | 85% | With the special servicer and 90+ days delinquent |
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.