Hotel · Des Moines, Iowa
Hotel Fort Des Moines
Hotel Fort Des Moines is financed with a $38.5M CMBS loan at 7.16% that reaches maturity on December 6, 2029, in 3 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
- $38,500,000
- Original balance (same notes)
- $38,500,000
- Interest rate
- 7.16% fixed
- Originated
- November 19, 2024
- Maturity
- December 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1000 Walnut Street, Des Moines, IA 50309
- Metro
- Des Moines-West Des Moines, IA
- Units, rooms or beds
- 287
- Built
- 1919, renovated 2021
- Value at securitization
- $74.0M (Sep 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.05x | 1.36x |
| Occupancy | 56% | 65% |
| Net operating income | $5.7M | $3.8M |
| Debt yield | 9.8% |
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 Benchmark 2024-V12 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage down 0.25x 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 risen from 56% when the loan was securitized to 65%.
- Net operating income is 34% below the underwritten figure ($3.8M a year against $5.7M).
- Debt service coverage moved from 2.05x at securitization to 1.36x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $38.5M | Current | No | 1.36x | 65% |
| August 2026 | $38.5M | Current | No | 1.73x | 69% |
| July 2026 | $38.5M | Current | No | 1.56x | 64% |
| June 2026 | $38.5M | Current | No | 1.56x | 64% |
| May 2026 | $38.5M | Current | No | 1.58x | 64% |
| April 2026 | $38.5M | Current | No | 1.58x | 64% |
| March 2026 | $38.5M | Current | No | 1.58x | 64% |
| February 2026 | $38.5M | Current | No | 1.58x | 64% |
| January 2026 | $38.5M | Current | No | 1.58x | 64% |
| December 2025 | $38.5M | Current | No | 1.54x | 60% |
| November 2025 | $38.5M | Current | No | 1.54x | 60% |
| October 2025 | $38.5M | Current | No | 1.54x | 60% |
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 |
|---|---|---|---|---|
| Benchmark 2024-V12 Mortgage Trust | 6 | $38,500,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Des Moines-West Des Moines loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Jordan Creek Town Center | West Des Moines, IA | Retail | $170.0M | 7.02% | Feb 2029 | 1.90x | 95% | Current |
All loans maturing in 2029 · All Des Moines-West Des Moines 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.