Retail · Webster, New York
Towne Center at Webster
Towne Center at Webster is financed with a $43.0M CMBS loan at 7.335% that reaches maturity on August 6, 2029, in 2 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $43,000,000
- Original balance (same notes)
- $43,000,000
- Interest rate
- 7.335% fixed
- Originated
- July 25, 2024
- Maturity
- August 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- 3650 Real Estate Investment Trust 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 913-935 Holt Road 1031-1070 Ridge Road, Webster, NY 14580
- Metro
- Rochester, NY
- Rentable area
- 365,760 sq ft
- Built
- 2004
- Largest tenants
- Target; Kohl's; Dick's
- Value at securitization
- $64.5M (May 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.35x | 1.00x |
| Occupancy | 97% | 98% |
| Net operating income (annualized from 6 months) | $4.3M | $6.4M |
| Debt yield | 14.9% |
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 2024-V9 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
On the cmbs.news watch list in every report since September 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
- Net operating income is 49% above the underwritten figure ($6.4M a year against $4.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.35x at securitization to 1.00x on the latest statements.
- At 1.00x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $43.0M | Current | No | 1.00x | 98% |
| August 2026 | $43.0M | Current | No | 1.38x | 98% |
| July 2026 | $43.0M | Current | No | 1.38x | 98% |
| June 2026 | $43.0M | Current | No | 1.38x | 98% |
| May 2026 | $43.0M | Current | No | n/a | n/a |
| April 2026 | $43.0M | Current | No | 1.37x | 98% |
| March 2026 | $43.0M | Current | No | 1.37x | 96% |
| February 2026 | $43.0M | Current | No | 1.37x | 96% |
| January 2026 | $43.0M | Current | No | 1.37x | 96% |
| December 2025 | $43.0M | Current | No | 1.37x | 96% |
| November 2025 | $43.0M | Current | No | 1.37x | 96% |
| October 2025 | $43.0M | Current | No | n/a | n/a |
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 2024-V9 Mortgage Trust | 8 | $43,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Rochester loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Legacy Tower | Rochester, NY | Office | $21.3M | 4.99% | Jul 2029 | 0.55x | 82% | Current |
| Westfall Townhomes | Rochester Hills, NY | Mixed use | $12.0M | 4.35% | Nov 2029 | n/a | n/a | Current |
| FedEx Ground, West Henrietta | West Henrietta, NY | Industrial | $8.0M | 3.17% | Nov 2029 | n/a | n/a | Current |
| Cintas Rochester | Rochester, NY | Industrial | $3.6M | 4.035% | Jun 2029 | 3.38x | 100% | Current |
| Rite Aid - Newark Ny | Newark, NY | Retail | $3.0M | 4.50% | Sep 2029 | 1.59x | 100% | With the special servicer and 90+ days 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.