Retail · Fairfax, Virginia
Fair Oaks Mall
Public CMBS trusts hold $151.1M of the loan on Fair Oaks Mall at 4.258% that reaches maturity on November 10, 2026, this month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $151,084,023
- Original balance (same notes)
- $175,000,000
- Interest rate
- 4.258% fixed
- Originated
- April 27, 2018
- Maturity
- November 10, 2026
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- February 9, 2023
- Master servicer
- Trimont LLC
- Originator
- Bank of America, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred February 28, 2023, returned May 24, 2024
- Workout strategy
- Resolved
- Modified
- Yes, most recently February 23, 2024
- Defeasance
- None reported
The property
- Address
- 11750 Fair Oaks Mall, Fairfax, VA 22033
- Metro
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Rentable area
- 779,949 sq ft
- Built
- 1980, renovated 2014
- Largest tenants
- Macy's; H&M Clothing Stores; Express #00505
- Value at securitization
- $545.6M (Feb 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 3.05x | 1.53x |
| Occupancy | 92% | 90% |
| Net operating income | $29.9M | $15.3M |
| Debt yield | 10.1% |
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-C48 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Matures within 12 months
- Modified
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 49% below the underwritten figure ($15.3M a year against $29.9M).
- Debt service coverage moved from 3.05x at securitization to 1.53x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $151.1M | Current | No | 1.53x | 90% |
| August 2026 | $151.4M | Current | No | 1.53x | 90% |
| July 2026 | $151.6M | Current | No | 1.53x | 90% |
| June 2026 | $151.9M | Current | No | 1.53x | 90% |
| May 2026 | $152.2M | Current | No | 1.53x | 90% |
| April 2026 | $152.5M | Current | No | 1.53x | 90% |
| March 2026 | $152.8M | Current | No | 1.56x | 90% |
| February 2026 | $153.1M | Current | No | 1.56x | 90% |
| January 2026 | $153.4M | Current | No | 1.62x | 88% |
| December 2025 | $153.7M | Current | No | 1.62x | 88% |
| November 2025 | $153.9M | Current | No | 1.62x | 88% |
| October 2025 | $154.2M | Current | No | 1.62x | 88% |
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 February 28, 2023, returned to the master servicer May 24, 2024.
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 6 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2018-BNK12 | 3 | $69,066,982 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2018-BNK13 | 12 | $29,137,633 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 2A | $17,806,331 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 2 | $17,266,745 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 30 | $9,496,710 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C48 | 31 | $8,309,621 | Sep 2026 | SEC filing, September 29, 2026 |
Other Washington-Arlington-Alexandria loans due in 2026
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Potomac Mills | Woodbridge, VA | Retail | $145.5M | 2.988% | Nov 2026 | 4.48x | 95% | Current |
| Silver Spring Plaza | Silver Spring, MD | Office | $35.0M | 4.90% | Jul 2026 | 1.26x | 58% | Past maturity and not performing |
| East Market | Fairfax, VA | Retail | $30.0M | 4.169% | Dec 2026 | 1.96x | 97% | Current |
| Georgetown Plaza | Washington, DC | Mixed use | $23.0M | 4.30% | Nov 2026 | 0.65x | 84% | Current |
| Willco Business Center | Gaithersburg, MD | Industrial | $22.0M | 4.786% | Dec 2026 | 1.27x | 80% | Current |
| Enterprise Plaza | Lanham, MD | Retail | $21.7M | 4.68% | Dec 2026 | 1.99x | 100% | Current |
| Carmax Sterling | Sterling, VA | Retail | $15.2M | 4.78% | Dec 2026 | 2.11x | 100% | Current |
| Sacramento Center | Alexandria, VA | Mixed use | $9.5M | 4.44% | Oct 2026 | 2.59x | 99% | Current |
All loans maturing in 2026 · All Washington-Arlington-Alexandria 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.