Multifamily · Richardson, Texas
The Riley
Public CMBS trusts hold $53.8M of the loan on The Riley at 7.13% that reaches maturity on May 6, 2034, in 7 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $53,750,000
- Original balance (same notes)
- $53,750,000
- Interest rate
- 7.13% fixed
- Originated
- April 30, 2024
- Maturity
- May 6, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2034
- Master servicer
- KeyBank National Association
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred January 26, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 3551 Wilshire Way, Richardson, TX 75082
- Metro
- Dallas-Fort Worth-Arlington, TX
- Units, rooms or beds
- 262
- Built
- 2016
- Value at securitization
- $83.1M (Feb 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.24x | 1.02x |
| Occupancy | 96% | 84% |
| Net operating income | $4.8M | $4.0M |
| Debt yield | 7.4% |
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 BBCMS Mortgage Trust 2024-C26 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
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in every report since February 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 fallen from 96% when the loan was securitized to 84%.
- Net operating income is 18% below the underwritten figure ($4.0M a year against $4.8M).
- Debt service coverage moved from 1.24x at securitization to 1.02x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $53.8M | 30-59 days delinquent | Yes | 1.02x | 84% |
| August 2026 | $53.8M | 30-59 days delinquent | Yes | 1.02x | 84% |
| July 2026 | $53.8M | 30-59 days delinquent | Yes | 1.02x | 84% |
| June 2026 | $53.8M | Late payment but less than 30 days delinquent | Yes | 1.02x | 84% |
| May 2026 | $53.8M | 60-89 days delinquent | Yes | 1.14x | 93% |
| April 2026 | $53.8M | 30-59 days delinquent | Yes | 1.14x | 93% |
| March 2026 | $53.8M | Late payment but less than 30 days delinquent | Yes | 1.14x | 93% |
| February 2026 | $53.8M | 30-59 days delinquent | Yes | 1.14x | 93% |
| January 2026 | $53.8M | Late payment but less than 30 days delinquent | No | 1.14x | 93% |
| December 2025 | $53.8M | Current | No | 1.14x | 93% |
| November 2025 | $53.8M | Current | No | 1.14x | 93% |
| October 2025 | $53.8M | Current | No | 1.14x | 93% |
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 January 26, 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-C26 | 4 | $33,750,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BBCMS Mortgage Trust 2024-C26 | 4A | $20,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Dallas-Fort Worth-Arlington loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Grapevine Mills | Grapevine, TX | Retail | $250.0M | 6.264% | Jul 2034 | n/a | n/a | Current |
| Dallas Market Center | Dallas, TX | Mixed use | $237.0M | 6.502% | Jun 2034 | n/a | n/a | Current |
| Weatherford Ridge | Weatherford, TX | Retail | $29.8M | 6.955% | May 2034 | n/a | n/a | Current |
| S&K Mini Warehouses & Storage | Denton, TX | Self storage | $10.6M | 6.35% | Sep 2034 | n/a | n/a | Current |
| 13140 Coit Road | Dallas, TX | Office | $6.3M | 6.98% | Aug 2034 | 1.31x | 76% | 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.