Mixed use · Shaker Heights, Ohio
Van Aken District
Van Aken District is financed with a $53.5M CMBS loan at 3.60% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $53,500,000
- Original balance (same notes)
- $53,500,000
- Interest rate
- 3.60% fixed
- Originated
- November 27, 2019
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 20100 Walker Road, Shaker Heights, OH 44122
- Metro
- Cleveland, OH
- Rentable area
- 142,004 sq ft
- Built
- 2005, renovated 2019
- Largest tenants
- ABA Insurance Services Inc. Unit 300,; RMS Investment Group; AO VAD, LLC
- Value at securitization
- $97.0M (Oct 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.46x | 1.74x |
| Occupancy | 85% | 84% |
| Net operating income (annualized from 6 months) | $4.8M | $6.8M |
| Debt yield | 12.8% |
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-GC45 filing for the reporting period ending October 9, 2026, filed with the SEC October 22, 2026.
- Coverage down 0.25x 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
- Net operating income is 42% above the underwritten figure ($6.8M a year against $4.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.46x at securitization to 1.74x on the latest statements.
- The filing gives Jul 2028 as the lease end date for the largest tenant (ABA Insurance Services Inc. Unit 300,), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $53.5M | Current | No | 1.74x | 84% |
| September 2026 | $53.5M | Current | No | 1.74x | 84% |
| August 2026 | $53.5M | Current | No | 1.45x | 97% |
| July 2026 | $53.5M | Current | No | 1.45x | 97% |
| June 2026 | $53.5M | Current | No | 1.45x | 97% |
| May 2026 | $53.5M | Current | No | n/a | n/a |
| April 2026 | $53.5M | Current | No | 1.57x | 97% |
| March 2026 | $53.5M | Current | No | 1.53x | 98% |
| February 2026 | $53.5M | Current | No | 1.53x | 98% |
| January 2026 | $53.5M | Current | No | 1.53x | 98% |
| December 2025 | $53.5M | Late payment but less than 30 days delinquent | No | 1.53x | 98% |
| November 2025 | $53.5M | Current | No | 1.50x | 98% |
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-GC45 | 7 | $53,500,000 | Oct 2026 | SEC filing, October 22, 2026 |
Other Cleveland loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 16625 Granite Road | Maple Heights, OH | Office | $82.8M | 3.78% | Aug 2029 | n/a | n/a | Current |
| Euclid Apartments | Euclid, OH | Multifamily | $53.0M | 7.06% | Feb 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Welleon | Cleveland, OH | Multifamily | $44.6M | 6.23% | Dec 2029 | 1.19x | 94% | Current |
| Us Bank Centre | Cleveland, OH | Office | $31.5M | 5.044% | Jan 2029 | 0.94x | 74% | With the special servicer and 90+ days delinquent |
| Solon Park Apartments | Solon, OH | Multifamily | $28.0M | 6.67% | Jul 2029 | 1.29x | 90% | Current |
| Fifth Third Center | Cleveland, OH | Office | $27.5M | 7.257% | Dec 2029 | 3.00x | 74% | Current |
| Center North | Lakewood, OH | Multifamily | $24.7M | 4.80% | Jun 2029 | 1.21x | 98% | Current |
| The Garfield Apartments | Cleveland, OH | Multifamily | $22.6M | 5.20% | May 2029 | 0.76x | 91% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 9, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.