Retail · Hoover, Alabama
The Grove
The Grove is financed with a $12.0M CMBS loan at 7.05% that reaches maturity on December 6, 2032, in 6 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,000,000
- Original balance (same notes)
- $12,000,000
- Interest rate
- 7.05% fixed
- Originated
- November 17, 2022
- Maturity
- December 6, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2032
- Master servicer
- Midland Loan Services
- Originator
- BSPRT CMBS Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5519,5619,5541,5532 Grove Boulevard & 5500 Grove Blvd, Hoover, AL 35244
- Metro
- Birmingham, AL
- Rentable area
- 136,614 sq ft
- Built
- 2009
- Largest tenants
- Marshalls; Petco Store; Let's Play
- Value at securitization
- $27.6M (Sep 2022)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.37x | n/a |
| Occupancy | 99% | n/a |
| Net operating income | $2.0M | n/a |
Watch flags
Computed from the Benchmark 2023-B38 Mortgage Trust 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
- The filing gives Nov 2028 as the lease end date for the largest tenant (Marshalls), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.0M | Current | No | n/a | n/a |
| August 2026 | $12.0M | Current | No | n/a | n/a |
| July 2026 | $12.0M | Current | No | n/a | n/a |
| June 2026 | $12.0M | Current | No | n/a | n/a |
| May 2026 | $12.0M | Current | No | n/a | n/a |
| April 2026 | $12.0M | Current | No | n/a | n/a |
| March 2026 | $12.0M | Current | No | n/a | n/a |
| February 2026 | $12.0M | Current | No | n/a | n/a |
| January 2026 | $12.0M | Current | No | n/a | n/a |
| December 2025 | $12.0M | Current | No | n/a | n/a |
| November 2025 | $12.0M | Current | No | n/a | n/a |
| October 2025 | $12.0M | 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 |
|---|---|---|---|---|
| Benchmark 2023-B38 Mortgage Trust | 17 | $12,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Birmingham loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Crestwood Boulevard | Irondale, AL | Self storage | $117.0M | 3.628% | Jan 2032 | n/a | n/a | Current |
| 2912 3rd Avenue N | Birmingham, AL | Retail | $32.1M | 4.43% | Jul 2032 | n/a | n/a | Current |
| Hampton Inn & Suites Birmingham | Birmingham, AL | Hotel | $7.1M | 6.71% | Jul 2032 | 2.05x | 62% | 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.