Retail · Pembroke Pines, Florida
Walgreens Pembroke Pines
Walgreens Pembroke Pines is financed with a $3.9M CMBS loan at 3.36% that reaches maturity on September 1, 2030, in 3 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,935,490
- Original balance (same notes)
- $4,500,000
- Interest rate
- 3.36% fixed
- Originated
- August 10, 2020
- Maturity
- September 1, 2030
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 30, 2030
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 18410 Pines Boulevard, Pembroke Pines, FL 33029
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 14,595 sq ft
- Built
- 2016
- Largest tenants
- Walgreens
- Value at securitization
- $9.3M (Jun 2020)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.98x | 2.43x |
| Occupancy | 100% | 100% |
| Net operating income | $472K | $579K |
| Debt yield | 14.7% |
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 BANK 2020-BNK28 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 23% above the underwritten figure ($579K a year against $472K).
- Debt service coverage moved from 1.98x at securitization to 2.43x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.9M | Current | No | 2.43x | 100% |
| August 2026 | $3.9M | Current | No | 2.43x | 100% |
| July 2026 | $4.0M | Current | No | 2.43x | 100% |
| June 2026 | $4.0M | Current | No | 2.43x | 100% |
| May 2026 | $4.0M | Current | No | 1.99x | 100% |
| April 2026 | $4.0M | Current | No | 1.99x | 100% |
| March 2026 | $4.0M | Current | No | 1.99x | 100% |
| February 2026 | $4.0M | Current | No | 1.99x | 100% |
| January 2026 | $4.0M | Current | No | 1.99x | 100% |
| December 2025 | $4.0M | Current | No | 1.99x | 100% |
| November 2025 | $4.0M | Current | No | 1.99x | 100% |
| October 2025 | $4.0M | Current | No | 1.93x | 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 |
|---|---|---|---|---|
| BANK 2020-BNK28 | 33 | $3,935,490 | Sep 2026 | SEC filing, September 29, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Miami Design District | Miami, FL | Retail | $400.0M | 4.133% | Mar 2030 | 4.43x | 94% | Current |
| Las Olas City Centre | Fort Lauderdale, FL | Office | $145.0M | 6.658% | Mar 2030 | n/a | n/a | Current |
| 8321 Pines Boulevard | Pembroke Pines, FL | Self storage | $86.7M | 6.122% | Dec 2030 | n/a | n/a | Current |
| Marriott Boca Raton | Boca Raton, FL | Hotel | $55.0M | 7.083% | Feb 2030 | 2.20x | 72% | Current |
| Bayview Corporate Tower | Fort Lauderdale, FL | Office | $54.4M | 4.50% | Jul 2030 | 1.73x | 83% | Current |
| Waterfront Clematis | West Palm Beach, FL | Mixed use | $45.0M | 3.23% | Aug 2030 | 4.69x | 95% | Current |
| Oakbrook Center | Palm Beach Gardens, FL | Office | $43.0M | 6.847% | Aug 2030 | n/a | n/a | Current |
| 150 Palmetto | Boca Raton, FL | Office | $35.5M | 7.15% | Jun 2030 | 1.49x | 92% | Current |
All loans maturing in 2030 · All Miami-Fort Lauderdale-West Palm Beach loans
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.