Retail · Willmar, Minnesota
Walgreens, Willmar
Walgreens is financed with a $3.8M CMBS loan at 4.42% that reaches maturity on June 6, 2029, in 2 years and 7 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $3,848,768
- Original balance (same notes)
- $4,000,000
- Interest rate
- 4.42% fixed
- Originated
- May 31, 2019
- Maturity
- June 6, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- March 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
- 1301 1st Street South, Willmar, MN 56201
- Rentable area
- 14,490 sq ft
- Built
- 2009
- Largest tenants
- Walgreens
- Value at securitization
- $6.7M (Apr 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.63x | 1.74x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $394K | $843K |
| Debt yield | 21.9% |
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 2019-GC40 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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 114% above the underwritten figure ($843K a year against $394K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.63x at securitization to 1.74x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $3.8M | Current | No | 1.74x | 100% |
| September 2026 | $3.9M | Current | No | 1.74x | 100% |
| August 2026 | $3.9M | Current | No | 1.74x | 100% |
| July 2026 | $3.9M | Current | No | n/a | n/a |
| June 2026 | $3.9M | Current | No | n/a | n/a |
| May 2026 | $3.9M | Current | No | n/a | n/a |
| April 2026 | $3.9M | Payment not received but still in grace period or not yet due | No | 1.80x | 100% |
| March 2026 | $3.9M | Current | No | 1.80x | 100% |
| February 2026 | $3.9M | Current | No | 1.80x | 100% |
| January 2026 | $3.9M | 30-59 days delinquent | No | 1.80x | 100% |
| December 2025 | $3.9M | Late payment but less than 30 days delinquent | No | 1.80x | 100% |
| November 2025 | $3.9M | Current | No | 1.80x | 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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GC40 | 34 | $3,848,768 | Oct 2026 | SEC filing, October 22, 2026 |
Other Minnesota loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Wells Fargo Place | St. Paul, MN | Office | $60.0M | 3.40% | Nov 2029 | 2.23x | 85% | Current |
| Hy-Vee - Oakdale (10th Street), MN | Oakdale, MN | Retail | $55.0M | 4.582% | Apr 2029 | n/a | n/a | Current |
| The Archive Apartments | Minneapolis, MN | Multifamily | $47.9M | 6.92% | Jun 2029 | 1.32x | 93% | Current |
| Plymouth Corporate Center | Plymouth, MN | Office | $45.7M | 4.99% | Jan 2029 | 1.67x | 91% | With the special servicer and 90+ days delinquent |
| Grand Oaks Business Park | Eagan, MN | Office | $45.7M | 4.85% | Feb 2029 | 1.02x | 64% | Current |
| Hy-Vee - Savage, MN | Savage, MN | Retail | $40.0M | 3.494% | Dec 2029 | n/a | n/a | Current |
| ATRIA Corporate Center | Plymouth, MN | Office | $37.7M | 4.895% | Apr 2029 | 1.29x | 72% | Current |
| Seagate Shakopee | Shakopee, MN | Industrial | $23.4M | 7.56% | Jan 2029 | 1.49x | 100% | 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.