Hotel · Gatlinburg, Tennessee
HIE Gatlinburg
HIE Gatlinburg is financed with a $18.4M CMBS loan at 7.425% that reaches maturity on July 6, 2033, in 6 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,370,491
- Original balance (same notes)
- $18,900,000
- Interest rate
- 7.425% fixed
- Originated
- June 30, 2023
- Maturity
- July 6, 2033
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 5, 2033
- Master servicer
- Midland Loan Services
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred January 8, 2025, returned July 7, 2025
- Workout strategy
- Resolved
- Defeasance
- None reported
The property
- Address
- 322 Historic Nature Trail, Gatlinburg, TN 37738
- Rentable area
- 194,679 sq ft
- Units, rooms or beds
- 113
- Built
- 2016
- Value at securitization
- $28.5M (Apr 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.83x | 0.63x |
| Occupancy | 81% | n/a |
| Net operating income (annualized from 3 months) | $2.9M | $1.0M |
| Debt yield | 5.5% |
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 BMO 2023-C6 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since June 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
- Net operating income is 65% below the underwritten figure ($1.0M a year against $2.9M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.83x at securitization to 0.63x on the latest statements.
- At 0.63x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $18.4M | Current | No | 0.63x | n/a |
| August 2026 | $18.4M | Current | No | 0.63x | n/a |
| July 2026 | $18.4M | Current | No | 0.63x | n/a |
| June 2026 | $18.4M | Current | No | 0.63x | n/a |
| May 2026 | $18.4M | Current | No | n/a | n/a |
| April 2026 | $18.4M | Current | No | 2.05x | n/a |
| March 2026 | $18.5M | 30-59 days delinquent | No | 2.05x | n/a |
| February 2026 | $18.5M | Late payment but less than 30 days delinquent | No | 2.05x | n/a |
| January 2026 | $18.5M | Current | No | 1.68x | n/a |
| December 2025 | $18.5M | Current | No | 1.68x | n/a |
| November 2025 | $18.5M | Current | No | 1.68x | n/a |
| October 2025 | $18.5M | Current | No | 1.68x | 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 January 8, 2025, returned to the master servicer July 7, 2025.
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 |
|---|---|---|---|---|
| BMO 2023-C6 Mortgage Trust | 14 | $18,370,491 | Sep 2026 | SEC filing, October 2, 2026 |
Other Tennessee loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Volunteer RV Park | Heiskell, TN | Manufactured housing | $6.0M | 6.942% | May 2033 | 1.38x | 79% | 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.