Multifamily · Melbourne, Florida
University Village, Melbourne
University Village is financed with a $8.4M CMBS loan at 4.58% that reaches maturity on June 6, 2029, in 2 years and 7 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $8,357,500
- Original balance (same notes)
- $8,357,500
- Interest rate
- 4.58% fixed
- Originated
- May 22, 2019
- Maturity
- June 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3502 D'Avinci Way, Melbourne, FL 32901
- Metro
- Palm Bay-Melbourne-Titusville, FL
- Units, rooms or beds
- 99
- Built
- 2006
- Value at securitization
- $12.9M (Apr 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.98x | 1.53x |
| Occupancy | 96% | 86% |
| Net operating income | $767K | $593K |
| Debt yield | 7.1% |
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 2019-GC40 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 86%.
- Net operating income is 23% below the underwritten figure ($593K a year against $767K).
- Debt service coverage moved from 1.98x at securitization to 1.53x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $8.4M | Current | No | 1.53x | 86% |
| September 2026 | $8.4M | Current | No | 1.96x | 86% |
| August 2026 | $8.4M | Payment not received but still in grace period or not yet due | No | 1.96x | 89% |
| July 2026 | $8.4M | Current | No | n/a | n/a |
| June 2026 | $8.4M | Current | No | n/a | n/a |
| May 2026 | $8.4M | Current | No | n/a | n/a |
| April 2026 | $8.4M | Current | No | 1.36x | 92% |
| March 2026 | $8.4M | Current | No | 1.36x | 92% |
| February 2026 | $8.4M | Current | No | 1.36x | 92% |
| January 2026 | $8.4M | Current | No | 1.36x | 92% |
| December 2025 | $8.4M | Current | No | 1.36x | 92% |
| November 2025 | $8.4M | Current | No | 1.39x | 76% |
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 2019-GC40 | 30 | $8,357,500 | Oct 2026 | SEC filing, October 22, 2026 |
Other Palm Bay-Melbourne-Titusville loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cocoa Grand Apartments | Cocoa, FL | Multifamily | $46.9M | 6.56% | Aug 2029 | 0.89x | 92% | Late, less than 30 days |
| Palm Bay West Shopping Center | Palm Bay, FL | Retail | $11.6M | 3.98% | Nov 2029 | 2.58x | 89% | Current |
All loans maturing in 2029 · All Palm Bay-Melbourne-Titusville loans
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.