Hotel · Cleveland, Ohio
Hyatt Regency at the Arcade (Hyatt Regency Cleveland)
Hyatt Regency at the Arcade (Hyatt Regency Cleveland) is financed with a $25.0M CMBS loan at 7.99% that reaches maturity on May 6, 2028, in 18 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,000,000
- Original balance (same notes)
- $25,000,000
- Interest rate
- 7.99% fixed
- Originated
- April 20, 2023
- Maturity
- May 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 420 Superior Ave East, Cleveland, OH 44114
- Metro
- Cleveland, OH
- Units, rooms or beds
- 293
- Built
- 1890, renovated 2018
- Value at securitization
- $50.0M (Jan 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.05x | 1.24x |
| Occupancy | 61% | 63% |
| Net operating income (annualized from 6 months) | $4.1M | $5.1M |
| Debt yield | 20.3% |
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 2023-V3 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
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 22% above the underwritten figure ($5.1M a year against $4.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.05x at securitization to 1.24x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $25.0M | Current | No | 1.24x | 63% |
| August 2026 | $25.0M | Current | No | 1.24x | 63% |
| July 2026 | $25.0M | Current | No | -0.00x | 52% |
| June 2026 | $25.0M | Current | No | n/a | n/a |
| May 2026 | $25.0M | Current | No | n/a | n/a |
| April 2026 | $25.0M | Current | No | 1.42x | 65% |
| March 2026 | $25.0M | Current | No | 1.42x | 65% |
| February 2026 | $25.0M | Current | No | 1.58x | 65% |
| January 2026 | $25.0M | Current | No | 1.58x | 67% |
| December 2025 | $25.0M | Current | No | 1.58x | 67% |
| November 2025 | $25.0M | Current | No | 0.45x | 60% |
| October 2025 | $25.0M | Current | No | 0.45x | 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 2023-V3 Mortgage Trust | 17 | $25,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Cleveland loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Indian Hills Senior Community | Euclid, OH | Multifamily | $49.1M | 5.13% | Sep 2028 | 1.50x | 88% | Current |
| Steelyard Commons | Cleveland, OH | Retail | $39.6M | 4.855% | Apr 2028 | 2.24x | 84% | Current |
| Summit Office Park | Independence, OH | Office | $25.0M | 4.865% | Sep 2028 | 0.79x | 65% | Current |
| Cross Creek Apartments | Brunswick, OH | Multifamily | $17.1M | 4.841% | Mar 2028 | n/a | n/a | Late, less than 30 days |
| Baricelli Little Italy | Cleveland, OH | Multifamily | $16.8M | 6.417% | Jan 2028 | 0.82x | 92% | Late, less than 30 days |
| The IMG Building | Cleveland, OH | Office | $16.7M | 5.382% | Mar 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Corporate Plaza, Independence | Independence, OH | Office | $16.3M | 4.57% | Jan 2028 | 2.34x | 96% | Current |
| Lee Harvard Shopping Center | Cleveland, OH | Retail | $10.4M | 4.78% | May 2028 | 2.15x | 84% | 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.