Retail · Indianapolis, Indiana
Castleton Commons and Square
Castleton Commons and Square is financed with a $30.8M CMBS loan at 5.605% that reaches maturity on November 6, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $30,812,053
- Original balance (same notes)
- $34,500,000
- Interest rate
- 5.605% fixed
- Originated
- October 29, 2018
- Maturity
- November 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- August 5, 2028
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Deutsche Bank AG, acting through its New York Branch
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred August 9, 2023
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 8310- 8430 Castleton Corner Drive, Indianapolis, IN 46250
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Rentable area
- 279,452 sq ft
- Largest tenants
- FLOOR & DECOR; Dave and Busters; Recreational Equipment Inc
- Value at securitization
- $52.6M (Jul 2018)
Performance
| At securitization | Latest (Jun 2023) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.04x |
| Occupancy | 95% | 76% |
| Net operating income (annualized from 6 months) | n/a | $2.9M |
| Debt yield | 9.4% |
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 Benchmark 2018-B7 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Occupancy down 10 points 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 95% when the loan was securitized to 76%.
- The most recent valuation in the filing is $28.4M (April 3, 2026), against $52.6M at securitization.
- The filing gives Aug 2028 as the lease end date for the largest tenant (FLOOR & DECOR), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.8M | 90+ days delinquent | Yes | 1.04x | 76% |
| August 2026 | $30.8M | Not reported | Yes | 1.04x | 76% |
| July 2026 | $31.0M | 30-59 days delinquent | Yes | 1.04x | 76% |
| June 2026 | $31.0M | Late payment but less than 30 days delinquent | Yes | 1.04x | 76% |
| May 2026 | $31.0M | Not reported | Yes | 1.04x | 76% |
| April 2026 | $31.0M | Not reported | Yes | 1.04x | 76% |
| March 2026 | $31.1M | Late payment but less than 30 days delinquent | Yes | 1.04x | 76% |
| February 2026 | $31.1M | Not reported | Yes | 1.04x | 76% |
| January 2026 | $31.2M | Late payment but less than 30 days delinquent | Yes | 1.04x | 76% |
| December 2025 | $31.2M | Not reported | Yes | 1.04x | 76% |
| November 2025 | $31.3M | Late payment but less than 30 days delinquent | Yes | 1.04x | 76% |
| October 2025 | $31.5M | 90+ days delinquent | Yes | 1.04x | 76% |
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 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 |
|---|---|---|---|---|
| Benchmark 2018-B7 Mortgage Trust | 15 | $30,812,053 | Sep 2026 | SEC filing, October 1, 2026 |
Other Indianapolis-Carmel-Greenwood loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Meridian Plaza | Carmel, IN | Office | $31.5M | 7.67% | Jun 2028 | 1.72x | 74% | Current |
| Meridian at North | Indianapolis, IN | Office | $23.9M | 5.076% | Sep 2028 | 0.59x | 65% | Current |
| Villa Del Sol Apartments | Indianapolis, IN | Multifamily | $22.7M | 4.56% | Apr 2028 | 2.96x | 100% | Current |
| Franklin Road Distribution Center | Indianapolis, IN | Industrial | $18.5M | 5.486% | Dec 2028 | 2.07x | 84% | Current |
| Embassy Suites Indianapolis North | Indianapolis, IN | Hotel | $18.1M | 5.30% | Mar 2028 | 0.15x | 73% | Current |
| GRM Indianapolis | Indianapolis, IN | Industrial | $17.0M | 6.26% | May 2028 | 2.01x | 100% | Current |
| Lakeside Pointe At Nora | Indianapolis, IN | Multifamily | $15.2M | 5.98% | Nov 2028 | n/a | n/a | Current |
| Camden Oakes | Indianapolis, IN | Multifamily | $14.4M | 4.91% | Sep 2028 | 1.82x | 96% | Current |
All loans maturing in 2028 · All Indianapolis-Carmel-Greenwood loans
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.