Retail · Meridian, Idaho
The Village at Meridian
Public CMBS trusts hold $66.0M of the loan on The Village at Meridian at 3.499% that reaches maturity on February 5, 2031, in 4 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $65,995,000
- Original balance (same notes)
- $65,995,000
- Interest rate
- 3.499% fixed
- Originated
- January 14, 2021
- Maturity
- February 5, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 4, 2023
- Prepayment premium ends
- November 4, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1600-2300 North Eagle Road, Meridian, ID 83642
- Metro
- Boise City, ID
- Rentable area
- 841,927 sq ft
- Built
- 2012
- Largest tenants
- Big Al's; Village Cinema; Axiom Fitness
- Value at securitization
- $197.0M (Oct 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 5.27x | 15.23x |
| Occupancy | 77% | 96% |
| Net operating income (annualized from 6 months) | $12.3M | $38.1M |
| Debt yield | 57.8% |
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 2021-B24 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Largest tenant's lease ends within 12 months
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 77% when the loan was securitized to 96%.
- Net operating income is 209% above the underwritten figure ($38.1M a year against $12.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 5.27x at securitization to 15.23x on the latest statements.
- The filing gives Aug 2027 as the lease end date for the largest tenant (Big Al's), 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 | $66.0M | Current | No | 15.23x | 96% |
| August 2026 | $66.0M | Current | No | n/a | n/a |
| July 2026 | $66.0M | Current | No | n/a | n/a |
| June 2026 | $66.0M | Current | No | n/a | n/a |
| May 2026 | $66.0M | Current | No | n/a | n/a |
| April 2026 | $66.0M | Current | No | 14.44x | 96% |
| March 2026 | $66.0M | Current | No | 14.44x | 96% |
| February 2026 | $66.0M | Current | No | 14.44x | 96% |
| January 2026 | $66.0M | Current | No | 14.44x | 96% |
| December 2025 | $66.0M | Current | No | 14.44x | 96% |
| November 2025 | $66.0M | Current | No | 7.62x | 100% |
| October 2025 | $66.0M | Current | No | 7.62x | 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2021-B23 MORTGAGE TRUST | 17 | $35,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
| Benchmark 2021-B24 Mortgage Trust | 15 | $30,995,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Boise City loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 5 Mile Plaza | Boise, ID | Retail | $11.1M | 3.72% | Dec 2031 | 2.08x | 100% | Current |
| Aspen Apartments | Boise, ID | Multifamily | $6.5M | 6.24% | Sep 2031 | n/a | n/a | 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.