Hotel · Birmingham, Michigan
The Draxton Hotel 2.0
The Draxton Hotel 2.0 is financed with a $50.0M CMBS loan at 6.82% that reaches maturity on August 6, 2030, in 3 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $50,000,000
- Original balance (same notes)
- $50,000,000
- Interest rate
- 6.82% fixed
- Originated
- July 31, 2025
- Maturity
- August 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 5, 2027
- Prepayment premium ends
- February 5, 2030 (yield maintenance)
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 298 S Old Woodward Avenue, Birmingham, MI 48009
- Metro
- Detroit-Warren-Dearborn, MI
- Units, rooms or beds
- 151
- Built
- 2021
- Value at securitization
- $92.1M (Jul 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.30x | 2.32x |
| Occupancy | 67% | 67% |
| Net operating income | $7.9M | $8.0M |
| Debt yield | 16.0% |
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 BBCMS Mortgage Trust 2025-5C37 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 | $50.0M | Current | No | 2.32x | 67% |
| August 2026 | $50.0M | Current | No | 2.32x | 67% |
| July 2026 | $50.0M | Current | No | n/a | n/a |
| June 2026 | $50.0M | Current | No | n/a | n/a |
| May 2026 | $50.0M | Current | No | n/a | n/a |
| April 2026 | $50.0M | Current | No | n/a | n/a |
| March 2026 | $50.0M | Current | No | n/a | n/a |
| February 2026 | $50.0M | Current | No | n/a | n/a |
| January 2026 | $50.0M | Current | No | n/a | n/a |
| December 2025 | $50.0M | Current | No | n/a | n/a |
| November 2025 | $50.0M | Current | No | n/a | n/a |
| October 2025 | $50.0M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-5C37 | 4 | $50,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Detroit-Warren-Dearborn loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Gateway Industrial Center | Detroit, MI | Industrial | $93.0M | 6.74% | Jul 2030 | n/a | n/a | Late, less than 30 days |
| The Westin Book Cadillac | Detroit, MI | Hotel | $75.0M | 4.39% | Feb 2030 | 0.83x | 63% | Current |
| Infinity Park Apartments | Detroit, MI | Multifamily | $38.0M | 5.613% | Dec 2030 | n/a | n/a | Current |
| Southfield Westin | Southfield, MI | Hotel | $37.9M | 7.395% | May 2030 | 2.01x | 70% | Current |
| Lewis Technology Centre | Novi, MI | Office | $30.6M | 3.688% | Feb 2030 | n/a | n/a | Current |
| The Standard | Farmington Hills, MI | Office | $28.7M | 3.672% | Nov 2030 | 0.48x | 35% | Current |
| Brewery Park - Phase II | Detroit, MI | Office | $27.1M | 4.035% | Sep 2030 | n/a | n/a | Current |
| Gale Gardens Individual Property | Melvindale, MI | Multifamily | $21.4M | 3.85% | Mar 2030 | n/a | n/a | Current |
All loans maturing in 2030 · All Detroit-Warren-Dearborn 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.