Hotel portfolio, 2 properties · Michigan
Canton Fields Hotel Portfolio
This portfolio is financed with a $5.9M CMBS loan at 6.015% that reaches maturity on October 5, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $5,850,729
- Original balance (same notes)
- $7,000,000
- Interest rate
- 6.015% fixed
- Originated
- October 1, 2018
- Maturity
- October 5, 2028
- Payments
- Amortizing over 25 years
- Prepayment lockout ended
- December 4, 2020
- Master servicer
- Trimont LLC
- Originator
- Natixis Real Estate Capital LLC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred August 12, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Units, rooms or beds
- 183
- Value at securitization
- $10.8M (Aug 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.81x | -0.21x |
| Occupancy | 67% | 63% |
| Net operating income | $983K | $-114K |
| Debt yield | -2.0% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the CSAIL 2018-C14 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 67% when the loan was securitized to 63%.
- Net operating income is 112% below the underwritten figure ($-114K a year against $983K).
- Debt service coverage moved from 1.81x at securitization to -0.21x on the latest statements.
- At -0.21x, 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 | $5.9M | Late payment but less than 30 days delinquent | Yes | -0.21x | 63% |
| August 2026 | $5.9M | Current | No | -0.21x | 63% |
| July 2026 | $5.9M | Current | No | -0.21x | 63% |
| June 2026 | $5.9M | Current | No | -0.21x | 63% |
| May 2026 | $5.9M | Current | No | -0.21x | 63% |
| April 2026 | $5.9M | Current | No | 0.11x | 63% |
| March 2026 | $5.9M | Current | No | 0.11x | 63% |
| February 2026 | $5.9M | Current | No | 0.11x | 63% |
| January 2026 | $6.0M | Current | No | 0.65x | 63% |
| December 2025 | $6.0M | Current | No | 0.65x | 63% |
| November 2025 | $6.0M | Current | No | -0.69x | 47% |
| October 2025 | $6.0M | Current | No | -0.69x | 47% |
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 August 12, 2026, still there.
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CSAIL 2018-C14 Commercial Mortgage Trust | 36 | $5,850,729 | Sep 2026 | SEC filing, September 28, 2026 |
Other Michigan loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Twelve Oaks Mall | Novi, MI | Retail | $170.2M | 4.399% | Mar 2028 | 2.43x | 86% | Current |
| Romulus - Huron | Romulus, MI | Industrial | $127.8M | 7.35% | May 2028 | 1.37x | 69% | Current |
| Penske Distribution Center | Romulus, MI | Industrial | $70.0M | 4.63% | Dec 2028 | 2.59x | 100% | Current |
| Brasswater Warehouse Portfolio | Warren, MI | Office | $65.5M | 7.25% | Jul 2028 | n/a | n/a | Current |
| Troy Place | Troy, MI | Office | $40.0M | 5.09% | Dec 2028 | 2.38x | 65% | Current |
| Kohl's Shelby Property | Shelby Township, MI | Retail | $38.1M | 3.09% | Sep 2028 | n/a | n/a | Current |
| Travelers Tower I | Southfield, MI | Office | $33.0M | 4.82% | Jul 2028 | 2.12x | 75% | Current |
| One Kennedy Square | Detroit, MI | Office | $33.0M | 4.60% | Feb 2028 | 1.93x | 88% | 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.