Hotel · Portland, Oregon
Hotel Eastlund
Hotel Eastlund is financed with a $36.7M CMBS loan at 4.98% that reaches maturity on March 6, 2027, in 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $36,697,712
- Original balance (same notes)
- $41,000,000
- Interest rate
- 4.98% fixed
- Originated
- February 10, 2017
- Maturity
- March 6, 2027
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ended
- March 5, 2020
- Prepayment premium ends
- September 5, 2026 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Column Financial, Inc.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred March 24, 2025
- Workout strategy
- TBD
- Modified
- Yes, most recently December 29, 2021
- Defeasance
- Partly defeased
The property
- Address
- 1021 Northeast Grand Avenue, Portland, OR 97232
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Units, rooms or beds
- 168
- Built
- 1961, renovated 2015
- Value at securitization
- $68.6M (Jan 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.89x | 0.75x |
| Occupancy | 80% | 65% |
| Net operating income (annualized from 3 months) | $5.0M | $8.0M |
| Debt yield | 21.9% |
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 CSAIL 2017-C8 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points 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 80% when the loan was securitized to 65%.
- Net operating income is 61% above the underwritten figure ($8.0M a year against $5.0M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.89x at securitization to 0.75x on the latest statements.
- At 0.75x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $33.6M (April 23, 2025), against $68.6M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $36.7M | 90+ days delinquent | Yes | 0.75x | 65% |
| August 2026 | $36.7M | 60-89 days delinquent | Yes | 0.75x | 65% |
| July 2026 | $36.7M | 30-59 days delinquent | Yes | 1.04x | 65% |
| June 2026 | $36.7M | Late payment but less than 30 days delinquent | Yes | 1.04x | 65% |
| May 2026 | $37.1M | 90+ days delinquent | Yes | 1.04x | 65% |
| April 2026 | $37.1M | 90+ days delinquent | Yes | 1.04x | 65% |
| March 2026 | $37.1M | 90+ days delinquent | Yes | 1.04x | 65% |
| February 2026 | $37.1M | 60-89 days delinquent | Yes | 1.04x | 65% |
| January 2026 | $37.1M | 30-59 days delinquent | Yes | 1.04x | 65% |
| December 2025 | $37.1M | Late payment but less than 30 days delinquent | Yes | 1.04x | 65% |
| November 2025 | $37.3M | 90+ days delinquent | Yes | 1.04x | 65% |
| October 2025 | $37.3M | 60-89 days delinquent | Yes | 1.04x | 65% |
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 March 24, 2025, 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 |
|---|---|---|---|---|
| CSAIL 2017-C8 Commercial Mortgage Trust | 5 | $36,697,712 | Sep 2026 | SEC filing, September 28, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 2020 Southwest 4th Avenue | Portland, OR | Office | $44.3M | 3.961% | Dec 2027 | 2.24x | 69% | Current |
| Oregon City Shopping Center | Oregon City, OR | Retail | $22.5M | 4.30% | Jun 2027 | 2.00x | 80% | Current |
| Dorian Apartments | Portland, OR | Multifamily | $10.2M | 4.783% | Nov 2027 | 0.61x | 90% | Current |
| Cascade Building | Portland, OR | Mixed use | $10.0M | 3.645% | Oct 2027 | 0.42x | 42% | With the special servicer |
| Orchards Market Center | Vancouver, WA | Retail | $4.3M | 4.53% | May 2027 | 2.39x | 91% | Current |
| Ramada Portland East | Portland, OR | Hotel | $3.4M | 6.13% | Nov 2027 | n/a | n/a | Current |
All loans maturing in 2027 · All Portland-Vancouver-Hillsboro 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.