Hotel portfolio, 17 properties · Multiple locations
ESA Portfolio
Public CMBS trusts hold $90.2M of the loan on this portfolio at 6.736% that reaches maturity on October 6, 2030, in 3 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $90,160,000
- Original balance (same notes)
- $90,160,000
- Interest rate
- 6.736% fixed
- Originated
- October 1, 2025
- Maturity
- October 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2027
- Prepayment premium ends
- April 5, 2030 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 1,678
- Value at securitization
- $140.8M (Jun 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.88x | 1.64x |
| Occupancy | 81% | 80% |
| Net operating income | $11.6M | $10.2M |
| Debt yield | 11.3% |
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 2025-V18 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 12% below the underwritten figure ($10.2M a year against $11.6M).
- Debt service coverage moved from 1.88x at securitization to 1.64x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $90.2M | Current | No | 1.64x | 80% |
| August 2026 | $90.2M | Current | No | n/a | n/a |
| July 2026 | $90.2M | Current | No | n/a | n/a |
| June 2026 | $90.2M | Current | No | n/a | n/a |
| May 2026 | $90.2M | Current | No | n/a | n/a |
| April 2026 | $90.2M | Current | No | n/a | n/a |
| March 2026 | $90.2M | Current | No | n/a | n/a |
| February 2026 | $90.2M | Current | No | n/a | n/a |
| January 2026 | $90.2M | Current | No | n/a | n/a |
| December 2025 | $90.2M | Current | No | n/a | n/a |
| November 2025 | $90.2M | Current | No | n/a | n/a |
| October 2025 | $30.0M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2025-5C38 | 2 | $60,160,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2025-V18 Mortgage Trust | 17 | $30,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other hotel loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| MGM Grand, Las Vegas (2030 maturity), loan 4 in BENCHMARK 2020-B19 MORTGAGE TRUST | Las Vegas, NV | Hotel | $847.8M | 3.558% | Mar 2030 | n/a | n/a | Current |
| CityCenter (Aria & Vdara) | Las Vegas, NV | Hotel | $552.0M | 6.079% | Dec 2030 | n/a | n/a | Current |
| JW Marriott Nashville | Nashville, TN | Hotel | $185.0M | 3.139% | Mar 2030 | 5.35x | 82% | Current |
| Aman Hotel New York | New York, NY | Hotel | $115.0M | 6.96% | Aug 2030 | n/a | n/a | Current |
| The Roosevelt New Orleans | New Orleans, LA | Hotel | $114.2M | 6.87% | Jul 2030 | 1.75x | 72% | Current |
| Marriott JFK | Jamaica, NY | Hotel | $100.0M | 7.60% | May 2030 | 1.70x | 85% | Current |
| Yosemite Hospitality Portfolio | El Portal, CA | Hotel | $95.0M | 7.30% | Sep 2030 | 1.95x | 59% | Current |
| Renaissance NYC Midtown Hotel | New York, NY | Hotel | $90.0M | 6.989% | Feb 2030 | 2.95x | 86% | Current |
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.