Mixed use portfolio, 2 properties · Richmond, Virginia
Willow Lawn
This portfolio is financed with a $10.7M CMBS loan at 3.264% that reaches maturity on July 6, 2031, in 4 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $10,716,648
- Original balance (same notes)
- $10,750,000
- Interest rate
- 3.264% fixed
- Originated
- June 16, 2021
- Maturity
- July 6, 2031
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- March 5, 2031
- Master servicer
- Midland
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1700 Willow Lawn Drive and 5001 West Broad Street, Richmond, VA 23230
- Metro
- Richmond, VA
- Rentable area
- 47,778 sq ft
- Built
- 2008
- Largest tenants
- CVS Willow Lawn #01537; Price Studio, LLC; Deli Management, Inc. dba Jason's Deli#1
- Value at securitization
- $19.2M (May 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.08x | 2.89x |
| Occupancy | 91% | 82% |
| Net operating income | $1.2M | $1.0M |
| Debt yield | 9.6% |
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 Morgan Stanley Capital I Trust 2021-L6 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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
- Occupancy has fallen from 91% when the loan was securitized to 82%.
- Net operating income is 12% below the underwritten figure ($1.0M a year against $1.2M).
- Debt service coverage moved from 2.08x at securitization to 2.89x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.7M | Current | No | 2.89x | 82% |
| August 2026 | $10.7M | Current | No | 2.89x | 82% |
| July 2026 | $10.8M | Current | No | n/a | n/a |
| June 2026 | $10.8M | Current | No | n/a | n/a |
| May 2026 | $10.8M | Current | No | n/a | n/a |
| April 2026 | $10.8M | Current | No | 2.95x | 82% |
| March 2026 | $10.8M | Current | No | 2.95x | 82% |
| February 2026 | $10.8M | Current | No | 2.94x | 82% |
| January 2026 | $10.8M | Current | No | 2.94x | 82% |
| December 2025 | $10.8M | Current | No | 2.94x | 82% |
| November 2025 | $10.8M | Current | No | 2.94x | 82% |
| October 2025 | $10.8M | Current | No | 2.73x | 82% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L6 | 23 | $10,716,648 | Sep 2026 | SEC filing, October 2, 2026 |
Other Richmond loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Brookfield Place Richmond | Richmond, VA | Office | $18.1M | 3.16% | Jan 2031 | 4.07x | 100% | Current |
| The Edgeworth Building | Richmond, VA | Office | $18.1M | 3.43% | May 2031 | 3.91x | 97% | Current |
| Citizens Bank - Va | Glen Allen, VA | Office | $12.3M | 3.086% | Jul 2031 | 5.10x | 100% | Current |
| Aylett Crossing | Aylett, VA | Retail | $6.6M | 3.766% | Oct 2031 | 1.83x | 98% | Current |
| Westchester I Office | Midlothian, VA | Office | $6.5M | 3.693% | Nov 2031 | 2.26x | 91% | Current |
| Food Lion Luck's Lane | Richmond, VA | Retail | $4.7M | 3.80% | Aug 2031 | 1.72x | 84% | Current |
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.