Retail · Adrian, Michigan
Walgreens Adrian
Walgreens Adrian is financed with a $1.7M CMBS loan at 4.465% that reaches maturity on November 6, 2026, this month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $1,713,764
- Original balance (same notes)
- $2,330,000
- Interest rate
- 4.465% fixed
- Originated
- November 3, 2016
- Maturity
- November 6, 2026
- Payments
- Amortizing over 25 years
- Prepayment lockout ended
- January 5, 2019
- Master servicer
- BPC
- Originator
- CCRE
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 706 S Main Street, Adrian, MI 49221
- Rentable area
- 13,650 sq ft
- Built
- 2002
- Largest tenants
- Walgreen Co
- Value at securitization
- $5.3M (Sep 2016)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.07x | 2.17x |
| Occupancy | 100% | 100% |
| Net operating income | $321K | $336K |
| Debt yield | 19.6% |
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 CFCRE 2016-C7 Mortgage Trust filing for the reporting period ending October 6, 2026, filed with the SEC October 21, 2026.
- Matures within 12 months
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
- Debt service coverage moved from 2.07x at securitization to 2.17x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $1.7M | Current | No | 2.17x | 100% |
| September 2026 | $1.7M | Current | No | n/a | n/a |
| August 2026 | $1.7M | Current | No | n/a | n/a |
| July 2026 | $1.7M | Current | No | n/a | n/a |
| June 2026 | $1.7M | Current | No | n/a | n/a |
| May 2026 | $1.7M | Current | No | n/a | n/a |
| April 2026 | $1.8M | Current | No | 2.17x | 100% |
| March 2026 | $1.8M | Current | No | 2.17x | 100% |
| February 2026 | $1.8M | Current | No | 2.17x | 100% |
| January 2026 | $1.8M | Payment not received but still in grace period or not yet due | No | 2.17x | 100% |
| December 2025 | $1.8M | Late payment but less than 30 days delinquent | No | 2.17x | 100% |
| November 2025 | $1.8M | Current | No | 2.17x | 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 |
|---|---|---|---|---|
| CFCRE 2016-C7 Mortgage Trust | 35 | $1,713,764 | Oct 2026 | SEC filing, October 21, 2026 |
Other Michigan loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 3800 Hamlin | Auburn Hills, MI | Office | $24.0M | 3.218% | Nov 2026 | 4.07x | 100% | With the special servicer |
| Walgreens - Allendale, MI | Allendale, MI | Retail | $22.5M | 4.593% | Dec 2026 | n/a | n/a | Current |
| Seven Mile Crossing | Livonia, MI | Office | $15.9M | 3.86% | Nov 2026 | n/a | n/a | Current |
| Livonia Commons | Livonia, MI | Retail | $14.0M | 4.163% | Oct 2026 | 1.75x | 100% | Current |
| Boulevard Apartments | Auburn Hills, MI | Multifamily | $13.0M | 4.66% | Dec 2026 | 4.40x | 100% | Current |
| 23 Mile Macomb Medical Campus | Macomb, MI | Office | $11.4M | 4.588% | Nov 2026 | n/a | n/a | Current |
| DAP Portfolio | MI | Retail | $10.0M | 4.89% | Nov 2026 | 1.58x | 97% | Current |
| Delta Senior Living - Lansing | Lansing, MI | Multifamily | $5.4M | 5.413% | Dec 2026 | 0.40x | 72% | Current |
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.