Retail · Martinsville, Virginia
Village of Martinsville
Village of Martinsville is financed with a $13.5M CMBS loan at 4.28% that reaches maturity on July 6, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $13,487,588
- Original balance (same notes)
- $16,500,000
- Interest rate
- 4.28% fixed
- Originated
- June 28, 2019
- Maturity
- July 6, 2029
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- May 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently June 5, 2020
- Defeasance
- None reported
The property
- Address
- 240 Commonwealth Boulevard, Martinsville, VA 24112
- Rentable area
- 288,254 sq ft
- Built
- 1989, renovated 2014
- Largest tenants
- BELK #544; KROGER #R-350; DU N HAMS ATH LEIS U RE CORP.
- Value at securitization
- $26.1M (May 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.87x | 1.65x |
| Occupancy | 96% | 95% |
| Net operating income (annualized from 6 months) | $2.0M | $3.6M |
| Debt yield | 26.6% |
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 BENCHMARK 2019-B12 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Modified
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 79% above the underwritten figure ($3.6M a year against $2.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.87x at securitization to 1.65x on the latest statements.
- The filing gives Aug 2028 as the lease end date for the largest tenant (BELK #544), 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 | $13.5M | Current | No | 1.65x | 95% |
| August 2026 | $13.5M | Current | No | 1.65x | 95% |
| July 2026 | $13.6M | Current | No | n/a | n/a |
| June 2026 | $13.6M | Current | No | n/a | n/a |
| May 2026 | $13.6M | Current | No | n/a | n/a |
| April 2026 | $13.7M | Current | No | 1.86x | 95% |
| March 2026 | $13.7M | Current | No | 1.89x | 95% |
| February 2026 | $13.8M | Current | No | 1.89x | 95% |
| January 2026 | $13.8M | Current | No | 1.89x | 95% |
| December 2025 | $13.8M | Current | No | 2.17x | 95% |
| November 2025 | $13.9M | Current | No | 2.17x | 95% |
| October 2025 | $13.9M | Current | No | 2.17x | 95% |
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 |
|---|---|---|---|---|
| BENCHMARK 2019-B12 MORTGAGE TRUST | 22 | $13,487,588 | Sep 2026 | SEC filing, September 30, 2026 |
Other Virginia loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 1812 North Moore | Arlington, VA | Office | $172.7M | 7.53% | May 2029 | 0.96x | 99% | Late, less than 30 days |
| Battlefield Tech I - Battlefield | Chesapeake, VA | Office | $108.2M | 5.30% | Apr 2029 | n/a | n/a | Current |
| Tysons Corner Center - Office Tower | McLean, VA | Office | $95.0M | 3.33% | Oct 2029 | n/a | n/a | Current |
| Potomac Tower | Arlington, VA | Office | $84.0M | 7.60% | Sep 2029 | 1.66x | 100% | Current |
| Powered Shell Portfolio - Manassas DC-18 | Manassas, VA | Industrial | $83.8M | 3.637% | Jul 2029 | n/a | n/a | Current |
| Ellipse at Fairfax Corner | Fairfax, VA | Multifamily | $70.0M | 4.667% | Jan 2029 | n/a | n/a | Current |
| Powered Shell Portfolio - Ashburn DC-15 | Ashburn, VA | Industrial | $69.8M | 3.637% | Jul 2029 | n/a | n/a | Current |
| Quest Diagnostics - Chantilly | Chantilly, VA | Mixed use | $57.3M | 5.66% | Dec 2029 | 1.66x | 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.