Multifamily · Baltimore, Maryland
Twin Ridge Apartments
Twin Ridge Apartments is financed with a $20.0M CMBS loan at 2.70% that reaches maturity on December 1, 2031, in 5 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $20,000,000
- Original balance (same notes)
- $20,000,000
- Interest rate
- 2.70% fixed
- Originated
- November 16, 2021
- Maturity
- December 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 31, 2031
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1901 Snow Meadow Lane, Baltimore, MD 21209
- Metro
- Baltimore-Columbia-Towson, MD
- Units, rooms or beds
- 314
- Built
- 1972, renovated 2012
- Value at securitization
- $63.0M (Sep 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 5.54x | 7.46x |
| Occupancy | 98% | 84% |
| Net operating income (annualized from 6 months) | $3.0M | $4.1M |
| Debt yield | 20.5% |
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 BANK 2021-BNK38 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 98% when the loan was securitized to 84%.
- Net operating income is 36% above the underwritten figure ($4.1M a year against $3.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 5.54x at securitization to 7.46x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.0M | Current | No | 7.46x | 84% |
| August 2026 | $20.0M | Current | No | 7.46x | 84% |
| July 2026 | $20.0M | Current | No | 7.48x | 89% |
| June 2026 | $20.0M | Current | No | 7.48x | 89% |
| May 2026 | $20.0M | Current | No | 7.48x | 89% |
| April 2026 | $20.0M | Current | No | 7.46x | 94% |
| March 2026 | $20.0M | Current | No | 7.46x | 94% |
| February 2026 | $20.0M | Current | No | 7.46x | 94% |
| January 2026 | $20.0M | Current | No | 7.49x | 94% |
| December 2025 | $20.0M | Current | No | 7.49x | 94% |
| November 2025 | $20.0M | Current | No | 7.49x | 94% |
| October 2025 | $20.0M | Current | No | 7.66x | 97% |
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 |
|---|---|---|---|---|
| BANK 2021-BNK38 | 9 | $20,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Baltimore-Columbia-Towson loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Normandy Center | Ellicott City, MD | Mixed use | $40.3M | 6.536% | Jan 2031 | n/a | n/a | Current |
| Redwoods Campus Center | Baltimore, MD | Multifamily | $39.2M | 6.70% | Jul 2031 | n/a | n/a | Current |
| Columbia East Marketplace | Jessup, MD | Retail | $26.3M | 3.238% | Sep 2031 | 2.03x | 95% | Current |
| 200 St. Paul Plaza | Baltimore, MD | Office | $24.2M | 3.576% | Feb 2031 | n/a | n/a | Current |
| Ridgeview Plaza - Md | Hanover, MD | Retail | $23.4M | 3.21% | Jun 2031 | 2.10x | 100% | Current |
| Route 1 Self Storage, Nottingham | Nottingham, MD | Self storage | $8.3M | 3.325% | Apr 2031 | 3.17x | 87% | Current |
| Stafford Apartments | Baltimore, MD | Multifamily | $8.1M | 6.93% | Feb 2031 | n/a | n/a | Current |
| Finksburg Plaza | Finksburg, MD | Retail | $8.0M | 6.173% | Feb 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Baltimore-Columbia-Towson 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.