Hotel · Sarasota, Florida
Art Ovation Hotel
Public CMBS trusts hold $56.1M of the loan on Art Ovation Hotel at 5.90% that reaches maturity on August 5, 2032, in 5 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $56,060,491
- Original balance (same notes)
- $57,500,000
- Interest rate
- 5.90% fixed
- Originated
- July 14, 2022
- Maturity
- August 5, 2032
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- June 4, 2032
- Master servicer
- Midland
- Originator
- 3650 Real Estate Investment Trust 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1255 North Palm Avenue, Sarasota, FL 34236
- Metro
- North Port-Bradenton-Sarasota, FL
- Units, rooms or beds
- 162
- Built
- 2018
- Value at securitization
- $89.5M (Jun 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.63x | 1.38x |
| Occupancy | 81% | 83% |
| Net operating income | $6.7M | $5.6M |
| Debt yield | 10.1% |
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 BMO 2022-C3 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
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
- Net operating income is 16% below the underwritten figure ($5.6M a year against $6.7M).
- Debt service coverage moved from 1.63x at securitization to 1.38x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $56.1M | Current | No | 1.38x | 83% |
| August 2026 | $56.1M | Current | No | n/a | n/a |
| July 2026 | $56.2M | Current | No | n/a | n/a |
| June 2026 | $56.2M | Current | No | n/a | n/a |
| May 2026 | $56.3M | Current | No | n/a | n/a |
| April 2026 | $56.4M | Current | No | 1.56x | 80% |
| March 2026 | $56.4M | Current | No | 1.56x | 80% |
| February 2026 | $56.5M | Current | No | 1.56x | 80% |
| January 2026 | $56.5M | Current | No | 1.56x | 80% |
| December 2025 | $56.6M | Current | No | 1.56x | 80% |
| November 2025 | $56.7M | Current | No | 1.60x | 81% |
| October 2025 | $56.7M | Current | No | 1.60x | 81% |
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 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| 3650R 2022-PF2 Commercial Mortgage Trust | 8 | $26,811,539 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2023-C21 | 12 | $19,499,301 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2022-C3 Mortgage Trust | 24 | $9,749,651 | Sep 2026 | SEC filing, October 2, 2026 |
Other North Port-Bradenton-Sarasota loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Holiday Inn Express - Bradenton | Brandenton, FL | Hotel | $12.7M | 5.53% | Apr 2032 | n/a | n/a | 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.