Office · Frankfort, Kentucky
Capital Complex
Capital Complex is financed with a $8.9M CMBS loan at 5.297% that reaches maturity on July 6, 2028, in 20 months. As of the Oct 2026 servicer report its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $8,933,637
- Original balance (same notes)
- $9,687,000
- Interest rate
- 5.297% fixed
- Originated
- June 13, 2018
- Maturity
- July 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred January 9, 2023
- Workout strategy
- REO
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- None reported
The property
- Address
- 1024 and 1025 Capital Center Drive, Frankfort, KY 40601
- Rentable area
- 178,328 sq ft
- Built
- 1990
- Largest tenants
- Attorney General; DEPARTMENT OF JUVENILEJUSTICE; Secretary of State
- Value at securitization
- $14.1M (May 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.82x | 0.47x |
| Occupancy | 99% | 63% |
| Net operating income | $1.2M | $306K |
| Debt yield | 3.4% |
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 2018-GS10 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- 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
- Servicer stopped advancing
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 99% when the loan was securitized to 63%.
- Net operating income is 74% below the underwritten figure ($306K a year against $1.2M).
- Debt service coverage moved from 1.82x at securitization to 0.47x on the latest statements.
- At 0.47x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $6.5M (March 31, 2026), against $14.1M at securitization.
- The filing gives Jun 2028 as the lease end date for the largest tenant (Attorney General), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| September 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| August 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| July 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| June 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| May 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| April 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| March 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| February 2026 | $8.9M | 90+ days delinquent | Yes | 0.47x | 63% |
| January 2026 | $8.9M | 90+ days delinquent | Yes | 0.33x | 51% |
| December 2025 | $8.9M | 90+ days delinquent | Yes | 0.33x | 51% |
| November 2025 | $8.9M | 90+ days delinquent | Yes | 0.33x | 51% |
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 January 9, 2023, 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 |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2018-GS10 | 25 | $8,933,637 | Oct 2026 | SEC filing, October 22, 2026 |
Other Kentucky loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Oxmoor Center | Louisville, KY | Retail | $90.0M | 8.12% | Jun 2028 | 1.56x | 99% | Current |
| 4813 Nashville Road | Bowling Green, KY | Industrial | $33.1M | 6.685% | May 2028 | n/a | n/a | With the special servicer and 60-89 days delinquent |
| Kohl's Nicholasville | Nicholasville, KY | Retail | $27.4M | 3.33% | May 2028 | n/a | n/a | Current |
| Dolwick Business Center | Erlanger, KY | Office | $22.1M | 4.744% | May 2028 | 1.73x | 85% | Current |
| Hopkinsville Towne Center | Hopkinsville, KY | Retail | $15.8M | 5.055% | Nov 2028 | n/a | n/a | Current |
| Woodland Commons SC | Elizabethtown, KY | Retail | $13.0M | 5.28% | Sep 2028 | 1.38x | 100% | Current |
| Eden Apartments | Louisville, KY | Multifamily | $7.6M | 6.625% | Jul 2028 | 1.50x | 90% | With the special servicer and 90+ days delinquent |
| Four Points Louisville Airport | Louisville, KY | Hotel | $7.4M | 5.74% | Apr 2028 | 2.21x | 44% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.