Retail · Warner Robins, Georgia
Watson Central Shopping Center
Watson Central Shopping Center is financed with a $8.1M CMBS loan at 4.83% that reaches maturity on April 6, 2027, in 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,059,912
- Original balance (same notes)
- $9,700,000
- Interest rate
- 4.83% fixed
- Originated
- March 27, 2017
- Maturity
- April 6, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- January 5, 2027
- Master servicer
- Midland
- Originator
- DBNY
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred February 15, 2024, returned July 30, 2025
- Workout strategy
- Resolved
- Modified
- Yes, most recently June 27, 2025
- Defeasance
- None reported
The property
- Address
- 2191 - 2203 Watson Boulevard, Warner Robins, GA 31093
- Rentable area
- 222,189 sq ft
- Built
- 1989
- Largest tenants
- Food Depot All America; Deals Outlet; Citi Trends
- Value at securitization
- $13.4M (Nov 2016)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.07x | 1.67x |
| Occupancy | 97% | 81% |
| Net operating income (annualized from 3 months) | $1.3M | $1.0M |
| Debt yield | 12.8% |
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 CD 2017-CD4 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- Matures within 12 months
- 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
- Occupancy has fallen from 97% when the loan was securitized to 81%.
- Net operating income is 18% below the underwritten figure ($1.0M a year against $1.3M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.07x at securitization to 1.67x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.1M | Current | No | 1.67x | 81% |
| August 2026 | $8.1M | Current | No | 1.67x | 63% |
| July 2026 | $8.1M | Current | No | 1.67x | 63% |
| June 2026 | $8.1M | Current | No | 1.67x | 63% |
| May 2026 | $8.1M | Current | No | n/a | n/a |
| April 2026 | $8.2M | Payment not received but still in grace period or not yet due | No | 1.95x | 59% |
| March 2026 | $8.2M | Current | No | 1.68x | 62% |
| February 2026 | $8.2M | Current | No | 1.68x | 62% |
| January 2026 | $8.2M | Current | No | 1.68x | 62% |
| December 2025 | $8.2M | Current | No | 1.68x | 62% |
| November 2025 | $8.2M | Current | No | 1.50x | 67% |
| October 2025 | $8.3M | Current | No | 1.50x | 67% |
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 February 15, 2024, returned to the master servicer July 30, 2025.
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 |
|---|---|---|---|---|
| CD 2017-CD4 Mortgage Trust | 30 | $8,059,912 | Sep 2026 | SEC filing, September 25, 2026 |
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.