Retail · Utica, Michigan
Utica Park Place
Utica Park Place is financed with a $27.0M CMBS loan at 7.75% that reaches maturity on November 6, 2033, in 7 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $27,000,000
- Original balance (same notes)
- $27,000,000
- Interest rate
- 7.75% fixed
- Originated
- October 20, 2023
- Maturity
- November 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2033
- Master servicer
- Bernard Financial
- Originator
- Greystone Select Company II LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 45160 & 45520 Utica Park Boulevard, Utica, MI 48315
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 494,855 sq ft
- Built
- 1992
- Largest tenants
- Sam's Club #6664; At Home Stores LLC; Gabes
- Value at securitization
- $45.6M (Aug 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.50x | 1.31x |
| Occupancy | 97% | 100% |
| Net operating income | $3.2M | $2.7M |
| Debt yield | 10.1% |
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 BMO 2023-C7 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 14% below the underwritten figure ($2.7M a year against $3.2M).
- Debt service coverage moved from 1.50x at securitization to 1.31x on the latest statements.
- The filing gives Oct 2028 as the lease end date for the largest tenant (Sam's Club #6664), 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 | $27.0M | Current | No | 1.31x | 100% |
| August 2026 | $27.0M | Current | No | 1.31x | 100% |
| July 2026 | $27.0M | Current | No | n/a | n/a |
| June 2026 | $27.0M | Current | No | n/a | n/a |
| May 2026 | $27.0M | Current | No | n/a | n/a |
| April 2026 | $27.0M | Current | No | 1.62x | n/a |
| March 2026 | $27.0M | Current | No | 1.62x | n/a |
| February 2026 | $27.0M | Current | No | 1.63x | 100% |
| January 2026 | $27.0M | Current | No | 1.63x | 100% |
| December 2025 | $27.0M | Current | No | 1.63x | 100% |
| November 2025 | $27.0M | Current | No | 1.63x | 100% |
| October 2025 | $27.0M | Current | No | 1.37x | 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 |
|---|---|---|---|---|
| BMO 2023-C7 Mortgage Trust | 11 | $27,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Detroit-Warren-Dearborn loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Great Lakes Crossing Outlets | Auburn Hill, MI | Retail | $180.0M | 6.521% | Feb 2033 | 2.84x | 94% | Current |
| Park at Trowbridge | Southfield, MI | Multifamily | $28.8M | 7.28% | Nov 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Dollar Walgreens Portfolio (Oak Park) | Oak Park, MI | Retail | $8.1M | 6.36% | Feb 2033 | n/a | n/a | Current |
| Peterboro Office & Retail | Detroit, MI | Mixed use | $6.3M | 7.555% | Jun 2033 | 1.49x | 100% | Current |
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.