Multifamily · Ann Arbor, Michigan
UM Student Housing Portfolio
UM Student Housing Portfolio is financed with a $11.0M CMBS loan at 3.198% that reaches maturity on December 6, 2030, in 4 years and 1 month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $11,000,000
- Original balance (same notes)
- $11,000,000
- Interest rate
- 3.198% fixed
- Originated
- November 18, 2020
- Maturity
- December 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ended
- January 5, 2023
- Prepayment premium ends
- July 5, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1001 South Forest, 543 Church, 515 Walnut 521 Walnut and 1506 Geddes, Ann Arbor, MI 48104
- Metro
- Ann Arbor, MI
- Units, rooms or beds
- 80
- Built
- 1960
- Value at securitization
- $25.4M (Oct 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.88x | 5.10x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.4M | $3.7M |
| Debt yield | 33.4% |
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 GS Mortgage Securities Trust 2020-GSA2 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 165% above the underwritten figure ($3.7M a year against $1.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.88x at securitization to 5.10x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $11.0M | Current | No | 5.10x | 100% |
| September 2026 | $11.0M | Current | No | 5.10x | 100% |
| August 2026 | $11.0M | Current | No | 5.10x | 100% |
| July 2026 | $11.0M | Current | No | 5.35x | 100% |
| June 2026 | $11.0M | Current | No | 5.35x | 100% |
| May 2026 | $11.0M | Current | No | n/a | n/a |
| April 2026 | $11.0M | Current | No | 5.35x | n/a |
| March 2026 | $11.0M | Current | No | 5.35x | n/a |
| February 2026 | $11.0M | Current | No | 5.25x | 100% |
| January 2026 | $11.0M | Current | No | 5.25x | 100% |
| December 2025 | $11.0M | Current | No | 5.24x | 100% |
| November 2025 | $11.0M | Current | No | 5.24x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2020-GSA2 | 23 | $11,000,000 | Oct 2026 | SEC filing, October 22, 2026 |
Other Ann Arbor loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Earhart Corporate Center | Ann Arbor, MI | Office | $29.5M | 3.572% | Oct 2030 | 2.11x | 96% | Current |
| Westgate Shopping Center, Ann Arbor | Ann Arbor, MI | Retail | $23.0M | 6.795% | Oct 2030 | 1.49x | 100% | Current |
| 880 Technology Drive | Ann Arbor, MI | Office | $12.7M | 4.245% | Dec 2030 | 1.18x | 88% | Current |
| Avis Drive Property | Ann Arbor, MI | Industrial | $10.4M | 3.576% | Dec 2030 | n/a | n/a | Current |
| Cambridge Club Apartments | Ann Arbor, MI | Multifamily | $10.0M | 4.30% | Jul 2030 | 2.91x | 96% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.