Multifamily · Kent, Ohio
The Genesis Kent
The Genesis Kent is financed with a $14.8M CMBS loan at 7.32% that reaches maturity on July 6, 2033, in 6 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
- $14,770,000
- Original balance (same notes)
- $14,770,000
- Interest rate
- 7.32% fixed
- Originated
- June 7, 2023
- Maturity
- July 6, 2033
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- AREF2
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1494 Stratford Drive and 548 East Summit Street, Kent, OH 44240
- Metro
- Akron, OH
- Units, rooms or beds
- 223
- Built
- 1965, renovated 2023
- Value at securitization
- $24.9M (May 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.75x |
| Occupancy | 83% | 94% |
| Net operating income (annualized from 3 months) | n/a | $820K |
| Debt yield | 5.5% |
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 2023-C20 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
On the cmbs.news watch list in every report since July 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 risen from 83% when the loan was securitized to 94%.
- At 0.75x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.8M | Not reported | No | 0.75x | 94% |
| August 2026 | $14.8M | Not reported | No | 0.75x | 94% |
| July 2026 | $14.8M | Not reported | No | 0.64x | 94% |
| June 2026 | $14.8M | Not reported | No | 1.13x | 94% |
| May 2026 | $14.8M | Not reported | No | 1.13x | 94% |
| April 2026 | $14.8M | Not reported | No | 1.13x | 94% |
| March 2026 | $14.8M | Not reported | No | 1.13x | 94% |
| February 2026 | $14.8M | Late payment but less than 30 days delinquent | No | 1.13x | 94% |
| January 2026 | $14.8M | Not reported | No | 1.13x | 94% |
| December 2025 | $14.8M | Not reported | No | 1.13x | 94% |
| November 2025 | $14.8M | Not reported | No | 1.13x | 94% |
| October 2025 | $14.8M | Not reported | No | 1.13x | 71% |
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 2023-C20 | 19 | $14,770,000 | Sep 2026 | SEC filing, September 29, 2026 |
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.