Office · Hartford, Connecticut
Constitution Plaza
Public CMBS trusts hold $45.0M of the loan on Constitution Plaza at 5.99% that reached maturity on May 6, 2023, 41 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $45,017,121
- Original balance (same notes)
- $55,000,000
- Interest rate
- 5.99% fixed
- Originated
- April 18, 2018
- Maturity
- May 6, 2023
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- February 5, 2023
- Master servicer
- Trimont LLC
- Originator
- BSPRT Finance, LLC
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred May 17, 2023
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 1, 10, 100, 248, 250 & 260 Constitution Plaza, Hartford, CT 06103
- Rentable area
- 659,315 sq ft
- Built
- 1962, renovated 2004
- Largest tenants
- XL AMERICA; Shipman & goodwin ll; University of connec
- Value at securitization
- $94.4M (Feb 2018)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 1.69x | 0.57x |
| Occupancy | 81% | 73% |
| Net operating income | $6.7M | $2.3M |
| Debt yield | 5.1% |
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 Wells Fargo Commercial Mortgage Trust 2018-C46 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Past maturity
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 81% when the loan was securitized to 73%.
- Net operating income is 66% below the underwritten figure ($2.3M a year against $6.7M).
- Debt service coverage moved from 1.69x at securitization to 0.57x on the latest statements.
- At 0.57x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $13.0M (May 29, 2025), against $94.4M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| August 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| July 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| June 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| May 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| April 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| March 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| February 2026 | $45.0M | Non performing matured balloon | Yes | 0.57x | 73% |
| January 2026 | $45.0M | Non performing matured balloon | Yes | 0.35x | 73% |
| December 2025 | $45.0M | Non performing matured balloon | Yes | 0.35x | 73% |
| November 2025 | $45.0M | Non performing matured balloon | Yes | 0.35x | 73% |
| October 2025 | $45.0M | Non performing matured balloon | Yes | 1.53x | 74% |
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 May 10, 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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| JPMDB Commercial Mortgage Securities Trust 2018-C8 | 11 | $24,554,793 | Sep 2026 | SEC filing, September 28, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 7 | $16,369,863 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 7A | $4,092,466 | Sep 2026 | SEC filing, September 29, 2026 |
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.