Office · Glendale, Arizona
Thunderbird Portfolio
Thunderbird Portfolio is financed with a $10.0M CMBS loan at 3.322% that reaches maturity on June 6, 2031, in 4 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $10,000,000
- Original balance (same notes)
- $10,000,000
- Interest rate
- 3.322%
- Originated
- n/a
- Maturity
- June 6, 2031
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Barclays
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 5750 West Thunderbird Road, Glendale, AZ 85306
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 51,751 sq ft
- Built
- 2001
- Largest tenants
- Renal Care Group Arizona LLC; AKDHC LLC; Sunrise Medical Management LL
- Value at securitization
- $15.6M (May 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.80x |
| Occupancy | 96% | 80% |
| Net operating income | n/a | $943K |
| Debt yield | 9.4% |
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 2021-C10 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 96% when the loan was securitized to 80%.
- The filing gives May 2029 as the lease end date for the largest tenant (Renal Care Group Arizona LLC), 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 | $10.0M | Not reported | No | 2.80x | 80% |
| August 2026 | $10.0M | Not reported | No | 2.80x | 80% |
| July 2026 | $10.0M | Not reported | No | 2.48x | 80% |
| June 2026 | $10.0M | Not reported | No | 2.48x | 80% |
| May 2026 | $10.0M | Not reported | No | 2.48x | 80% |
| April 2026 | $10.0M | Not reported | No | 2.48x | 80% |
| March 2026 | $10.0M | Not reported | No | 2.48x | 80% |
| February 2026 | $10.0M | Not reported | No | 3.50x | 94% |
| January 2026 | $10.0M | Not reported | No | 3.50x | 94% |
| December 2025 | $10.0M | Not reported | No | 3.50x | 94% |
| November 2025 | $10.0M | Not reported | No | 3.06x | 94% |
| October 2025 | $10.0M | Not reported | No | 3.06x | 94% |
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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2021-C10 | 27 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Watermark Tempe | Tempe, AZ | Mixed use | $121.0M | 2.84% | Aug 2031 | 4.47x | 98% | Current |
| Superstition Gateway | Mesa, AZ | Retail | $77.1M | 3.62% | Oct 2031 | 2.91x | 96% | Current |
| Mesa | Mesa, AZ | Self storage | $51.0M | 2.954% | Aug 2031 | n/a | n/a | Current |
| Mesa Grand | Mesa, AZ | Retail | $38.0M | 6.583% | Jul 2031 | n/a | n/a | Current |
| Gainey Ranch Corporate Center II | Scottsdale, AZ | Office | $29.2M | 3.20% | Aug 2031 | 4.12x | 100% | Current |
| Consumer Cellular | Phoenix, AZ | Office | $27.5M | 4.474% | Apr 2031 | 2.21x | 100% | Current |
| Arcadia Fiesta | Phoenix, AZ | Retail | $26.9M | 3.55% | Dec 2031 | 1.73x | 100% | Current |
| The District - Airpark | Scottsdale, AZ | Mixed use | $25.4M | 3.58% | Apr 2031 | 3.17x | 91% | Current |
All loans maturing in 2031 · All Phoenix-Mesa-Chandler loans
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.