Multifamily · Southgate, Michigan
Village on the Park Southgate
Village on the Park Southgate is financed with a $17.8M CMBS loan at 5.29% that reaches maturity on March 6, 2028, in 16 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $17,758,882
- Original balance (same notes)
- $19,200,000
- Interest rate
- 5.29% fixed
- Originated
- February 28, 2018
- Maturity
- March 6, 2028
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- December 5, 2027
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred July 13, 2026
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 13200 Village Park Drive, Southgate, MI 48195
- Metro
- Detroit-Warren-Dearborn, MI
- Units, rooms or beds
- 358
- Built
- 1976
- Value at securitization
- $24.0M (Feb 2018)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.69x | n/a |
| Occupancy | 96% | n/a |
| Net operating income | $1.7M | n/a |
Watch flags
Computed from the BENCHMARK 2018-B3 COMMERCIAL MORTGAGE TRUST filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in every report since June 2026.
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
- The most recent valuation in the filing is $27.9M (February 21, 2020), against $24.0M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $17.8M | 90+ days delinquent | Yes | n/a | n/a |
| August 2026 | $17.8M | 90+ days delinquent | Yes | n/a | n/a |
| July 2026 | $17.8M | 60-89 days delinquent | No | n/a | n/a |
| June 2026 | $17.8M | 30-59 days delinquent | No | n/a | n/a |
| May 2026 | $17.8M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
| April 2026 | $17.8M | 30-59 days delinquent | No | 0.94x | 67% |
| March 2026 | $17.8M | Late payment but less than 30 days delinquent | No | 0.23x | 77% |
| February 2026 | $17.8M | Payment not received but still in grace period or not yet due | No | 0.23x | n/a |
| January 2026 | $17.9M | 30-59 days delinquent | No | 0.23x | n/a |
| December 2025 | $17.9M | Late payment but less than 30 days delinquent | No | 0.23x | n/a |
| November 2025 | $17.9M | Payment not received but still in grace period or not yet due | No | 0.23x | n/a |
| October 2025 | $17.9M | Payment not received but still in grace period or not yet due | No | 0.23x | n/a |
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.
Special-servicing history
- Transferred to the special servicer July 13, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2018-B3 COMMERCIAL MORTGAGE TRUST | 24 | $17,758,882 | Sep 2026 | SEC filing, September 25, 2026 |
Other Detroit-Warren-Dearborn loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Twelve Oaks Mall | Novi, MI | Retail | $170.2M | 4.399% | Mar 2028 | 2.43x | 86% | Current |
| Romulus - Huron | Romulus, MI | Industrial | $127.8M | 7.35% | May 2028 | 1.37x | 69% | Current |
| Penske Distribution Center | Romulus, MI | Industrial | $70.0M | 4.63% | Dec 2028 | 2.59x | 100% | Current |
| Brasswater Warehouse Portfolio | Warren, MI | Office | $65.5M | 7.25% | Jul 2028 | n/a | n/a | Current |
| Troy Place | Troy, MI | Office | $40.0M | 5.09% | Dec 2028 | 2.38x | 65% | Current |
| Kohl's Shelby Property | Shelby Township, MI | Retail | $38.1M | 3.09% | Sep 2028 | n/a | n/a | Current |
| Travelers Tower I | Southfield, MI | Office | $33.0M | 4.82% | Jul 2028 | 2.12x | 75% | Current |
| One Kennedy Square | Detroit, MI | Office | $33.0M | 4.60% | Feb 2028 | 1.93x | 88% | Current |
All loans maturing in 2028 · All Detroit-Warren-Dearborn loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.