Retail · Newark, Delaware
Christiana Mall
Public CMBS trusts hold $265.7M of the loan on Christiana Mall at 4.277% that reaches maturity on August 1, 2028, in 21 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $265,680,000
- Original balance (same notes)
- $265,680,000
- Interest rate
- 4.277% fixed
- Originated
- July 12, 2018
- Maturity
- August 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 31, 2028
- Master servicer
- Trimont LLC
- Originator
- Barclays Bank PLC; Deutsche Bank AG, acting through its New York Branch; Société Générale
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 132 Christiana Mall, Newark, DE 19702
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 779,084 sq ft
- Built
- 1978, renovated 2007
- Largest tenants
- Target; CABELA'S; Cinemark Theater
- Value at securitization
- $1.0B (Jun 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.19x | 1.75x |
| Occupancy | 98% | 97% |
| Net operating income (annualized from 6 months) | $46.7M | $42.0M |
| Debt yield | 15.8% |
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 BBCMS Mortgage Trust 2019-C3 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 10% below the underwritten figure ($42.0M a year against $46.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.19x at securitization to 1.75x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $265.7M | Current | No | 1.75x | 97% |
| August 2026 | $265.7M | Current | No | 1.77x | 93% |
| July 2026 | $265.7M | Current | No | 1.77x | 93% |
| June 2026 | $265.7M | Current | No | 1.77x | 93% |
| May 2026 | $265.7M | Current | No | 1.77x | 93% |
| April 2026 | $265.7M | Current | No | 1.77x | 93% |
| March 2026 | $265.7M | Current | No | 1.77x | 93% |
| February 2026 | $265.7M | Current | No | 1.77x | 93% |
| January 2026 | $265.7M | Current | No | 1.77x | 93% |
| December 2025 | $265.7M | Current | No | 1.77x | 93% |
| November 2025 | $265.7M | Current | No | 1.77x | 98% |
| October 2025 | $265.7M | Current | No | 1.77x | 98% |
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 10 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C47 | 3 | $50,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 2 | $40,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| UBS Commercial Mortgage Trust 2018-C13 | 4 | $30,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| DBGS 2018-C1 Mortgage Trust | 5 | $30,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| UBS Commercial Mortgage Trust 2018-C14 | 8 | $30,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C48 | 8 | $28,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| DBGS 2018-C1 Mortgage Trust | 5A | $23,136,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 2A | $14,840,000 | Sep 2026 | SEC filing, September 29, 2026 |
| UBS Commercial Mortgage Trust 2018-C15 | 25 | $10,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BBCMS Mortgage Trust 2019-C3 | 36 | $9,704,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One & Two Commerce Square | Philadelphia, PA | Office | $207.5M | 7.787% | Jun 2028 | 1.82x | 90% | Current |
| Philadelphia Marriott Downtown | Philadelphia, PA | Hotel | $205.0M | 8.705% | Nov 2028 | 1.24x | 65% | Current |
| Piazza Alta | Philadelphia, PA | Multifamily | $185.9M | 4.676% | Oct 2028 | 0.83x | 88% | Current |
| Rittenhouse Hill | Philadelphia, PA | Multifamily | $113.0M | 4.713% | May 2028 | 1.54x | 92% | Current |
| Three Bala Plaza | Bala Cynwyd, PA | Office | $88.0M | 8.71% | Nov 2028 | n/a | n/a | Current |
| 425 Old Morehall Road | Malvern, PA | Office | $59.8M | 4.86% | Nov 2028 | n/a | n/a | Current |
| Vanguard Portfolio | Malvern, PA | Office | $57.0M | 4.86% | Nov 2028 | 2.10x | 100% | Current |
| Christiana Center | Newark, DE | Retail | $47.0M | 5.09% | Nov 2028 | 1.75x | 97% | Current |
All loans maturing in 2028 · All Philadelphia-Camden-Wilmington 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.