Mixed use · Baltimore, Maryland
650 South Exeter Street
650 South Exeter Street is financed with a $25.0M CMBS loan at 4.84% that reaches maturity on June 6, 2028, in 19 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,000,000
- Original balance (same notes)
- $25,000,000
- Interest rate
- 4.84% fixed
- Originated
- May 21, 2018
- Maturity
- June 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Cantor Commercial Real Estate Lending, L.P.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 650 South Exeter Street, Baltimore, MD 21202
- Metro
- Baltimore-Columbia-Towson, MD
- Rentable area
- 206,335 sq ft
- Built
- 2007
- Largest tenants
- Gallagher Eyclins A. Jones LLP; DLA Piper LLP; Jones Lang Lasnlle Americans
- Value at securitization
- $79.4M (Nov 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.75x | 0.14x |
| Occupancy | 78% | 55% |
| Net operating income (annualized from 3 months) | $4.5M | $169K |
| Debt yield | 0.7% |
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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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 every report since June 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 78% when the loan was securitized to 55%.
- Net operating income is 96% below the underwritten figure ($169K a year against $4.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.75x at securitization to 0.14x on the latest statements.
- At 0.14x, 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 |
|---|---|---|---|---|---|
| September 2026 | $25.0M | Current | No | 0.14x | 55% |
| August 2026 | $25.0M | Current | No | 0.14x | 55% |
| July 2026 | $25.0M | Current | No | 0.14x | 55% |
| June 2026 | $25.0M | Current | No | 0.14x | 55% |
| May 2026 | $25.0M | Current | No | n/a | n/a |
| April 2026 | $25.0M | Current | No | 0.37x | 45% |
| March 2026 | $25.0M | Current | No | 0.37x | 45% |
| February 2026 | $25.0M | Current | No | 0.38x | 38% |
| January 2026 | $25.0M | Current | No | 0.38x | 38% |
| December 2025 | $25.0M | Current | No | 0.38x | 38% |
| November 2025 | $25.0M | Current | No | 0.26x | 39% |
| October 2025 | $25.0M | Payment not received but still in grace period or not yet due | No | 0.38x | 39% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 | 8 | $25,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other Baltimore-Columbia-Towson loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Westin Annapolis | Annapolis, MD | Hotel | $44.9M | 7.255% | Jul 2028 | 2.13x | 75% | Current |
| Dulaney Center | Towson, MD | Office | $43.1M | 4.773% | May 2028 | 1.27x | 66% | With the special servicer and 30-59 days delinquent |
| 11311 Mccormick Road | Hunt Valley, MD | Office | $21.9M | 4.361% | Jan 2028 | 1.85x | 70% | Current |
| Harford Village Mhc | Edgewood, MD | Manufactured housing | $21.7M | 4.565% | Jan 2028 | 2.04x | 99% | Current |
| Waysons Mhc | Lothian, MD | Manufactured housing | $20.1M | 4.875% | Apr 2028 | 1.56x | 100% | Current |
| 11126 McCormick Rd | Hunt Valley, MD | Industrial | $18.1M | 6.473% | Nov 2028 | n/a | n/a | Current |
| One Market Center | Baltimore, MD | Office | $15.8M | 4.885% | Mar 2028 | n/a | n/a | Current |
| DoubleTree Columbia | Columbia, MD | Hotel | $15.1M | 8.18% | Jul 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Baltimore-Columbia-Towson loans
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.