Hotel · North Charleston, South Carolina
Fairfield Inn Charleston Airport
Fairfield Inn Charleston Airport is financed with a $10.8M CMBS loan at 5.32% that reaches maturity on April 6, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $10,800,671
- Original balance (same notes)
- $12,500,000
- Interest rate
- 5.32% fixed
- Originated
- March 16, 2018
- Maturity
- April 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- January 5, 2028
- Master servicer
- Midland
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred June 9, 2020, returned April 6, 2023
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 4841 Tanger Outlet Blvd, North Charleston, SC 29418
- Metro
- Charleston-North Charleston, SC
- Units, rooms or beds
- 102
- Built
- 2000, renovated 2010
- Value at securitization
- $18.8M (Feb 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.78x | 0.42x |
| Occupancy | 78% | 67% |
| Net operating income (annualized from 3 months) | $1.5M | $358K |
| Debt yield | 3.3% |
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 COMM 2018-COR3 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since 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 78% when the loan was securitized to 67%.
- Net operating income is 76% below the underwritten figure ($358K a year against $1.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.78x at securitization to 0.42x on the latest statements.
- At 0.42x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $15.0M (January 20, 2022), against $18.8M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.8M | Current | No | 0.42x | 67% |
| August 2026 | $10.8M | Current | No | n/a | n/a |
| July 2026 | $10.8M | Current | No | n/a | n/a |
| June 2026 | $10.9M | Current | No | n/a | n/a |
| May 2026 | $10.9M | Current | No | n/a | n/a |
| April 2026 | $10.9M | Current | No | 0.51x | 69% |
| March 2026 | $10.9M | Current | No | 0.51x | 69% |
| February 2026 | $10.9M | Current | No | 0.51x | 69% |
| January 2026 | $11.0M | Current | No | n/a | n/a |
| December 2025 | $11.0M | Current | No | n/a | n/a |
| November 2025 | $11.0M | Current | No | n/a | n/a |
| October 2025 | $11.0M | Current | 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.
Special-servicing history
- Transferred to the special servicer June 9, 2020, returned to the master servicer April 6, 2023.
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 |
|---|---|---|---|---|
| COMM 2018-COR3 Mortgage Trust | 25 | $10,800,671 | Sep 2026 | SEC filing, September 25, 2026 |
Other Charleston-North Charleston loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Crowfield Plaza | Goose Creek, SC | Retail | $13.2M | 5.43% | Dec 2028 | n/a | n/a | Current |
| Shoppes At Centre Pointe | North Charleston, SC | Retail | $13.0M | 5.53% | Nov 2028 | 1.70x | 99% | Current |
All loans maturing in 2028 · All Charleston-North Charleston loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.