Hotel · Indianapolis, Indiana
Embassy Suites Indianapolis North
Embassy Suites Indianapolis North is financed with a $18.1M CMBS loan at 5.30% that reaches maturity on March 1, 2028, in 16 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,103,072
- Original balance (same notes)
- $21,000,000
- Interest rate
- 5.30% fixed
- Originated
- February 8, 2018
- Maturity
- March 1, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- October 31, 2027
- Master servicer
- Midland
- Originator
- SG
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred April 27, 2020, returned August 26, 2020
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 3912 Vincennes Road, Indianapolis, IN 46268
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Units, rooms or beds
- 221
- Built
- 1985, renovated 2017
- Value at securitization
- $31.0M (Dec 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.94x | 0.15x |
| Occupancy | 75% | 73% |
| Net operating income (annualized from 3 months) | $2.7M | $209K |
| Debt yield | 1.2% |
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 UBS Commercial Mortgage Trust 2018-C9 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 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
- Net operating income is 92% below the underwritten figure ($209K a year against $2.7M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.94x at securitization to 0.15x on the latest statements.
- At 0.15x, 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 | $18.1M | Current | No | 0.15x | 73% |
| August 2026 | $18.1M | Current | No | 0.15x | 68% |
| July 2026 | $18.2M | Current | No | 0.15x | 68% |
| June 2026 | $18.2M | Current | No | n/a | n/a |
| May 2026 | $18.2M | Current | No | n/a | n/a |
| April 2026 | $18.3M | Current | No | 0.98x | 73% |
| March 2026 | $18.3M | Current | No | 0.98x | 73% |
| February 2026 | $18.4M | Current | No | 1.21x | 75% |
| January 2026 | $18.4M | Current | No | 1.21x | 75% |
| December 2025 | $18.4M | Current | No | 1.36x | 75% |
| November 2025 | $18.5M | Current | No | 1.36x | 75% |
| October 2025 | $18.5M | Current | No | 1.36x | 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 April 27, 2020, returned to the master servicer August 26, 2020.
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2018-C9 | 16 | $18,103,072 | Sep 2026 | SEC filing, September 28, 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 |
| Castleton Commons and Square | Indianapolis, IN | Retail | $30.8M | 5.605% | Nov 2028 | 1.04x | 76% | With the special servicer and 90+ days delinquent |
| 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 |
| 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.