Other portfolio, 7 properties · Multiple locations
GNL Portfolio
Public CMBS trusts hold $29.7M of the loan on this portfolio at 4.853% that reaches maturity on December 1, 2028, in 2 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $29,650,552
- Original balance (same notes)
- $54,175,000
- Interest rate
- 4.853% fixed
- Originated
- November 9, 2018
- Maturity
- December 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- January 31, 2021
- Prepayment premium ends
- August 31, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- KeyBank National Association/Societe Generale Financial Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Value at securitization
- $172.3M (Oct 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.24x | 1.48x |
| Occupancy | 100% | 71% |
| Net operating income | $10.9M | $7.2M |
| Debt yield | 24.2% |
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 BBCMS Mortgage Trust 2018-C2 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
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 100% when the loan was securitized to 71%.
- Net operating income is 34% below the underwritten figure ($7.2M a year against $10.9M).
- Debt service coverage moved from 2.24x at securitization to 1.48x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $29.7M | Current | No | 1.48x | 71% |
| August 2026 | $29.7M | Current | No | 1.48x | 71% |
| July 2026 | $29.7M | Current | No | 1.48x | 71% |
| June 2026 | $29.7M | Current | No | 1.48x | 71% |
| May 2026 | $29.7M | Current | No | 1.48x | 71% |
| April 2026 | $29.7M | Current | No | 1.24x | 86% |
| March 2026 | $28.7M | Current | No | 1.24x | 86% |
| February 2026 | $28.7M | Current | No | 1.24x | 86% |
| January 2026 | $54.2M | Current | No | 1.24x | 86% |
| December 2025 | $54.2M | Current | No | 1.24x | 86% |
| November 2025 | $54.2M | Current | No | 1.22x | 86% |
| October 2025 | $54.2M | Current | No | 1.22x | 86% |
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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2018-C2 | 3 | $29,650,552 | Sep 2026 | SEC filing, September 29, 2026 |
Other other loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Millennium Partners Portfolio | Other | $190.0M | 4.285% | Jul 2028 | 1.80x | 91% | Current | |
| U.S. Industrial Portfolio (2028 maturity) | ZZ | Other | $86.9M | 4.524% | Mar 2028 | 2.15x | 100% | Current |
| 12800 Culver | Los Angeles, CA | Other | $84.8M | 6.533% | Jul 2028 | 2.60x | 100% | Current |
| Seminole Trail Portfolio | VA | Other | $65.0M | 6.695% | Jan 2028 | 1.86x | 85% | Current |
| Oak Street NLP Fund Portfolio | Other | $59.9M | 6.138% | Mar 2028 | 2.35x | 100% | Current | |
| ICP/IRG Holdings Portfolio | Other | $52.2M | 7.35% | May 2028 | 1.40x | 69% | Current | |
| North Bay Portfolio | CA | Other | $51.0M | 4.504% | Apr 2028 | 1.84x | 88% | Current |
| Shops at Riverwalk & River Walk Corporate Center | Bakersfield, CA | Other | $50.8M | 6.835% | Jun 2028 | 2.01x | 97% | 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.