Mixed use · Cleveland, Ohio
Flats East Bank Phase I
Flats East Bank Phase I is financed with a $20.6M CMBS loan at 5.885% that reaches maturity on April 6, 2027, in 5 months. 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
- $20,607,854
- Original balance (same notes)
- $24,000,000
- Interest rate
- 5.885% fixed
- Originated
- March 28, 2017
- Maturity
- April 6, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- January 5, 2027
- Master servicer
- Trimont LLC
- Originator
- CCRE
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred June 1, 2020
- Workout strategy
- Other
- Modified
- Yes, most recently August 24, 2022
- Defeasance
- None reported
The property
- Address
- 1010 Front Avenue and 1051, 1060, 1091, 1111 and 1121 West 10th Street, Cleveland, OH 44113
- Metro
- Cleveland, OH
- Rentable area
- 128,070 sq ft
- Built
- 2013
- Largest tenants
- EB FITNESS; BOLD EATERY; LAGO FLATS
- Value at securitization
- $36.5M (Dec 2016)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.55x | 0.49x |
| Occupancy | 79% | 54% |
| Net operating income (annualized from 3 months) | $2.6M | $849K |
| Debt yield | 4.1% |
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 CFCRE 2017-C8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- With the special servicer
- 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
- Matures within 12 months
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to 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 79% when the loan was securitized to 54%.
- Net operating income is 68% below the underwritten figure ($849K a year against $2.6M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.55x at securitization to 0.49x on the latest statements.
- At 0.49x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $28.4M (May 27, 2026), against $36.5M at securitization.
- The filing gives Dec 2017 as the lease end date for the largest tenant (EB FITNESS), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.6M | Late payment but less than 30 days delinquent | Yes | 0.49x | 54% |
| August 2026 | $20.6M | Current | Yes | 0.49x | 54% |
| July 2026 | $20.6M | Current | Yes | 1.30x | 66% |
| June 2026 | $20.7M | Current | Yes | 1.30x | 66% |
| May 2026 | $20.7M | Current | Yes | 1.80x | 69% |
| April 2026 | $20.8M | Current | Yes | 1.80x | 69% |
| March 2026 | $20.8M | Late payment but less than 30 days delinquent | Yes | 1.80x | 69% |
| February 2026 | $20.8M | Current | Yes | 1.80x | 69% |
| January 2026 | $20.9M | Current | Yes | 1.24x | 64% |
| December 2025 | $20.9M | Current | Yes | 1.24x | 64% |
| November 2025 | $21.0M | Late payment but less than 30 days delinquent | Yes | 1.24x | 64% |
| October 2025 | $21.0M | Current | Yes | 0.26x | 55% |
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 1, 2020, 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 |
|---|---|---|---|---|
| CFCRE 2017-C8 Mortgage Trust | 9 | $20,607,854 | Sep 2026 | SEC filing, September 30, 2026 |
Other Cleveland loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Key Center Cleveland | Cleveland, OH | Mixed use | $157.3M | 5.31% | Feb 2027 | 1.84x | 89% | With the special servicer |
| One Cleveland Center | Cleveland, OH | Office | $49.9M | 5.30% | Nov 2027 | 1.11x | 69% | With the special servicer |
| HBP Euclid | Euclid, OH | Industrial | $37.5M | 4.66% | Aug 2027 | n/a | n/a | Current |
| Key Center | Cleveland, OH | Office | $25.0M | 5.31% | Feb 2027 | 1.85x | 89% | With the special servicer and 30-59 days delinquent |
| Freedom Square II | Independence, OH | Office | $24.0M | 4.15% | Nov 2027 | n/a | n/a | Current |
| Crocker Block K & Detroit | Westlake, OH | Retail | $13.1M | 4.71% | Nov 2027 | n/a | n/a | Current |
| Northern Ohio Industrial Park | Elyria, OH | Industrial | $9.2M | 4.487% | Nov 2027 | 3.22x | 88% | Current |
| 118 Flats Oval | Cleveland, OH | Multifamily | $4.9M | 5.36% | Mar 2027 | 1.10x | 75% | 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.