Office · Houston, Texas
5444 & 5430 Westheimer
Public CMBS trusts hold $51.0M of the loan on 5444 & 5430 Westheimer at 4.72% that reaches maturity on November 6, 2028, in 2 years. As of the Sep 2026 and Oct 2026 servicer reports its status is current.
The loan
- Balance in tracked trusts
- $51,000,000
- Original balance (same notes)
- $51,000,000
- Interest rate
- 4.72% fixed
- Originated
- October 23, 2018
- Maturity
- November 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 5, 2021
- Prepayment premium ends
- July 5, 2028 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 5444 & 5430 Westheimer Road, Houston, TX 77056
- Metro
- Houston-Pasadena-The Woodlands, TX
- Rentable area
- 404,762 sq ft
- Built
- 1979, renovated 2013
- Largest tenants
- WESTLAKE MANAGEMENT SERVIC; The Ballroom At Tanglewood LLC; MCI Communications Services
- Value at securitization
- $80.5M (Sep 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.56x | 0.68x |
| Occupancy | 81% | 43% |
| Net operating income | $6.3M | $1.7M |
| Debt yield | 3.3% |
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-GC38 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (November 2025 to October 2026).
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 81% when the loan was securitized to 43%.
- Net operating income is 74% below the underwritten figure ($1.7M a year against $6.3M).
- Debt service coverage moved from 2.56x at securitization to 0.68x on the latest statements.
- At 0.68x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $21.0M | Current | No | 0.68x | 43% |
| September 2026 | $51.0M | Current | No | 0.68x | 43% |
| August 2026 | $51.0M | Current | No | 0.76x | 48% |
| July 2026 | $51.0M | Current | No | 0.76x | 48% |
| June 2026 | $51.0M | Current | No | 0.74x | 48% |
| May 2026 | $51.0M | Current | No | 0.74x | 48% |
| April 2026 | $51.0M | Current | No | 0.74x | 48% |
| March 2026 | $51.0M | Current | No | 0.74x | 48% |
| February 2026 | $51.0M | Current | No | 0.57x | 48% |
| January 2026 | $51.0M | Late payment but less than 30 days delinquent | No | 0.84x | 50% |
| December 2025 | $51.0M | Current | No | 0.84x | 50% |
| November 2025 | $51.0M | Current | No | 0.84x | 50% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2018-B8 Mortgage Trust | 16 | $30,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| GS Mortgage Securities Trust 2019-GC38 | 15 | $21,000,000 | Oct 2026 | SEC filing, October 22, 2026 |
Other Houston-Pasadena-The Woodlands loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Heritage Plaza, Houston | Houston, TX | Office | $172.0M | 7.63% | May 2028 | 2.13x | 78% | Current |
| Sugar Land Town Square | Sugar Land, TX | Mixed use | $105.0M | 7.966% | Nov 2028 | 1.19x | 69% | Current |
| Rockridge Apartments | Houston, TX | Multifamily | $54.0M | 8.00% | Nov 2028 | 0.44x | 25% | With the special servicer and 90+ days delinquent |
| Pin Oak North Medical Office | Bellaire, TX | Office | $53.6M | 4.647% | Feb 2028 | 0.85x | 66% | With the special servicer and 90+ days delinquent |
| 6330 West Loop South | Bellaire, TX | Office | $48.4M | 8.18% | May 2028 | 1.21x | 88% | Current |
| Victory Lakes | League City, TX | Retail | $39.0M | 5.01% | Oct 2028 | n/a | n/a | Current |
| Market Center at Aliana | Richmond, TX | Retail | $37.0M | 7.03% | Oct 2028 | 1.29x | 95% | Current |
| 1001 McKinney | Houston, TX | Office | $31.2M | 7.675% | Jul 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Houston-Pasadena-The Woodlands loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 11, 2026, October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.