Retail · Memphis, Tennessee
Wolfchase Galleria
Public CMBS trusts hold $84.6M of the loan on Wolfchase Galleria at 4.146% that reaches maturity on November 1, 2026, this month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $84,628,345
- Original balance (same notes)
- $89,992,981
- Interest rate
- 4.146% fixed
- Originated
- October 26, 2016
- Maturity
- November 1, 2026
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- April 30, 2026
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred June 3, 2020, returned May 11, 2021
- Workout strategy
- Resolved
- Modified
- Yes, most recently May 1, 2020
- Defeasance
- None reported
The property
- Address
- 2760 North Germantown Parkway, Memphis, TN 38133
- Metro
- Memphis, TN-MS-AR
- Rentable area
- 391,862 sq ft
- Built
- 1997
- Largest tenants
- Malco Theatres; H&M; JD Sports
- Value at securitization
- $254.0M (Sep 2016)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.84x | 1.94x |
| Occupancy | 90% | 69% |
| Net operating income (annualized from 3 months) | $17.7M | $12.8M |
| Debt yield | 15.2% |
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 BBCMS Mortgage Trust 2017-C1 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 90% when the loan was securitized to 69%.
- Net operating income is 27% below the underwritten figure ($12.8M a year against $17.7M; the latest statement covers 3 months, annualized).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $84.6M | Late payment but less than 30 days delinquent | Yes | 1.94x | 69% |
| August 2026 | $84.6M | Current | No | 1.94x | 69% |
| July 2026 | $84.6M | Current | No | 1.23x | 74% |
| June 2026 | $84.6M | Current | No | 1.23x | 74% |
| May 2026 | $84.6M | Current | No | 1.23x | 74% |
| April 2026 | $84.6M | Current | No | 1.23x | 74% |
| March 2026 | $84.6M | Current | No | 1.21x | 70% |
| February 2026 | $84.6M | Current | No | 1.21x | 70% |
| January 2026 | $84.6M | Current | No | 1.16x | 74% |
| December 2025 | $84.6M | Current | No | 1.16x | 74% |
| November 2025 | $84.6M | Current | No | 1.16x | 74% |
| October 2025 | $84.6M | Current | No | 1.35x | 75% |
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 June 3, 2020, returned to the master servicer May 11, 2021.
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
The loan is split into 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32 | 3 | $47,015,747 | Sep 2026 | SEC filing, September 29, 2026 |
| CSMC 2016-NXSR Commercial Mortgage Trust | 7 | $18,806,299 | Sep 2026 | SEC filing, September 28, 2026 |
| CSMC 2016-NXSR Commercial Mortgage Trust | 7A | $9,403,149 | Sep 2026 | SEC filing, September 28, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32 | 3A | $4,701,575 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2017-C1 | 28 | $4,701,575 | Sep 2026 | SEC filing, September 29, 2026 |
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.