Retail · Huntsville, Alabama
The Shops at Merchant's Square
The Shops at Merchant's Square is financed with a $12.0M CMBS loan at 4.13% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,025,863
- Original balance (same notes)
- $13,475,000
- Interest rate
- 4.13% fixed
- Originated
- October 21, 2019
- Maturity
- November 6, 2029
- Payments
- Interest only for 12 months, then amortizing
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 935 Bob Wallace Avenue Southwest, Huntsville, AL 35801
- Metro
- Huntsville, AL
- Rentable area
- 42,901 sq ft
- Built
- 2019
- Largest tenants
- Ulta Salon, Cosmetics & Fragrance, Inc.; Chuy's Opco, Inc.; J.H.S. Holdings, LLC
- Value at securitization
- $18.1M (Aug 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.61x | 1.59x |
| Occupancy | 95% | 95% |
| Net operating income (annualized from 6 months) | $1.3M | $2.5M |
| Debt yield | 21.0% |
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 Benchmark 2019-B14 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 100% above the underwritten figure ($2.5M a year against $1.3M; the latest statement covers 6 months, annualized).
- The filing gives Jul 2029 as the lease end date for the largest tenant (Ulta Salon, Cosmetics & Fragrance, Inc.), 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 | 1.59x | 95% |
| August 2026 | $12.0M | Current | No | n/a | n/a |
| July 2026 | $12.1M | Current | No | n/a | n/a |
| June 2026 | $12.1M | Current | No | n/a | n/a |
| May 2026 | $12.1M | Current | No | n/a | n/a |
| April 2026 | $12.1M | Current | No | 1.60x | 95% |
| March 2026 | $12.2M | Current | No | 1.78x | 95% |
| February 2026 | $12.2M | Current | No | 1.78x | 95% |
| January 2026 | $12.2M | Current | No | 1.78x | 95% |
| December 2025 | $12.2M | Current | No | 1.78x | 95% |
| November 2025 | $12.3M | Current | No | 1.86x | 100% |
| October 2025 | $12.3M | Current | No | 1.86x | 100% |
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 2019-B14 Mortgage Trust | 35 | $12,025,863 | Sep 2026 | SEC filing, September 28, 2026 |
Other Huntsville loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| University Place | Huntsville, AL | Retail | $17.6M | 4.81% | May 2029 | 2.04x | 100% | Current |
| Lofts at Dallas Mill | Huntsville, AL | Multifamily | $15.9M | 6.94% | May 2029 | 0.74x | 89% | Current |
| Hampton Cove | Owens Cross Roads, AL | Self storage | $10.8M | 5.30% | Mar 2029 | n/a | n/a | Current |
| CityLine Huntsville Storage Port | Huntsville, AL | Self storage | $7.3M | 5.70% | Sep 2029 | n/a | n/a | Current |
| Best Western Plus Madison/huntsville | Madison, AL | Hotel | $6.3M | 5.15% | Aug 2029 | -0.29x | n/a | 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.