Retail · Thomaston, Georgia
Thomaston Shopping Center
Thomaston Shopping Center is financed with a $4.5M CMBS loan at 7.21% that reaches maturity on April 6, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,500,000
- Original balance (same notes)
- $4,500,000
- Interest rate
- 7.21% fixed
- Originated
- March 9, 2023
- Maturity
- April 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 5, 2025
- Prepayment premium ends
- February 5, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1021 Highway 19 North & 855 North Church Street, Thomaston, GA 30286
- Rentable area
- 186,736 sq ft
- Built
- 1991
- Largest tenants
- Dollar Tree; CARECONNECT HEALTH INC.; PetSense
- Value at securitization
- $9.3M (Jan 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.47x | 2.62x |
| Occupancy | 86% | 62% |
| Net operating income (annualized from 6 months) | $813K | $865K |
| Debt yield | 19.2% |
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 BANK5 2023-5YR1 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
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 86% when the loan was securitized to 62%.
- Net operating income is 6% above the underwritten figure ($865K a year against $813K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.47x at securitization to 2.62x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.5M | Current | No | 2.62x | 62% |
| August 2026 | $4.5M | Current | No | 2.62x | 62% |
| July 2026 | $4.5M | Current | No | 2.15x | 62% |
| June 2026 | $4.5M | Current | No | 2.15x | 62% |
| May 2026 | $4.5M | Current | No | 2.15x | 62% |
| April 2026 | $4.5M | Current | No | 2.15x | 62% |
| March 2026 | $4.5M | Current | No | 2.12x | 62% |
| February 2026 | $4.5M | Current | No | 2.12x | 62% |
| January 2026 | $4.5M | Current | No | 2.12x | 62% |
| December 2025 | $4.5M | Current | No | 2.12x | 62% |
| November 2025 | $4.5M | Current | No | 1.96x | 53% |
| October 2025 | $4.5M | Current | No | 2.02x | 53% |
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 |
|---|---|---|---|---|
| BANK5 2023-5YR1 | 23 | $4,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Georgia loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cumberland Mall | Atlanta, GA | Retail | $180.0M | 7.87% | May 2028 | 1.68x | 98% | Current |
| 1025 Lenox Park | Atlanta, GA | Office | $75.0M | 7.913% | Oct 2028 | n/a | n/a | Current |
| Shoppes at River Crossing | Macon, GA | Retail | $65.0M | 7.875% | Apr 2028 | 1.85x | 94% | Current |
| The Prado | Sandy Springs, GA | Retail | $42.0M | 8.80% | Dec 2028 | 1.12x | 90% | Current |
| Hilton Garden Inn Atlanta Downtown | Atlanta, GA | Hotel | $39.5M | 8.39% | Nov 2028 | 2.07x | 77% | Current |
| Perimeter Square | Atlanta, GA | Retail | $35.0M | 5.545% | Nov 2028 | 1.67x | 100% | Current |
| Residence at Patriot Place | Columbus, GA | Multifamily | $33.0M | 6.751% | Dec 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 1000 Windward Concourse | Alpharetta, GA | Office | $29.7M | 4.995% | Nov 2028 | 0.58x | 43% | 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.