Hotel · Melbourne, Florida
Crowne Plaza Melbourne
Crowne Plaza Melbourne is financed with a $34.5M CMBS loan at 5.94% 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.
The loan
- Balance in tracked trusts
- $34,497,982
- Original balance (same notes)
- $38,850,000
- Interest rate
- 5.94% fixed
- Originated
- October 17, 2018
- Maturity
- November 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- May 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred August 7, 2026
- Workout strategy
- Other
- Modified
- Yes, most recently September 4, 2020
- Defeasance
- None reported
The property
- Address
- 2605 North Highway A1A, Melbourne, FL 32903
- Metro
- Palm Bay-Melbourne-Titusville, FL
- Units, rooms or beds
- 290
- Built
- 1979, renovated 2018
- Value at securitization
- $59.5M (Jun 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.67x | 0.90x |
| Occupancy | 28% | 51% |
| Net operating income | $4.6M | $2.5M |
| Debt yield | 7.2% |
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-B8 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
- Modified
On the cmbs.news watch list in every report since June 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 risen from 28% when the loan was securitized to 51%.
- Net operating income is 46% below the underwritten figure ($2.5M a year against $4.6M).
- Debt service coverage moved from 1.67x at securitization to 0.90x on the latest statements.
- At 0.90x, 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 | $34.5M | Current | Yes | 0.90x | 51% |
| August 2026 | $34.6M | Current | No | 0.90x | 51% |
| July 2026 | $34.6M | Current | No | 0.90x | 51% |
| June 2026 | $34.7M | Current | No | 0.90x | 51% |
| May 2026 | $34.7M | Current | No | n/a | n/a |
| April 2026 | $34.8M | Current | No | 0.93x | 51% |
| March 2026 | $34.8M | Current | No | 0.93x | 51% |
| February 2026 | $34.9M | Current | No | 1.05x | 53% |
| January 2026 | $35.0M | Current | No | 1.05x | 53% |
| December 2025 | $35.0M | Current | No | 1.12x | 53% |
| November 2025 | $35.1M | Current | No | 1.12x | 53% |
| October 2025 | $35.1M | Current | No | 1.12x | 53% |
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 7, 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 |
|---|---|---|---|---|
| Benchmark 2018-B8 Mortgage Trust | 11 | $34,497,982 | Sep 2026 | SEC filing, September 28, 2026 |
Other Palm Bay-Melbourne-Titusville loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| GE Transportation | Melbourne, FL | Office | $16.3M | 4.92% | Feb 2028 | 3.00x | 94% | Current |
| Constellation Commons | Melbourne, FL | Retail | $6.3M | 5.058% | Aug 2028 | 1.57x | 100% | Current |
All loans maturing in 2028 · All Palm Bay-Melbourne-Titusville 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.