Hotel · San Francisco, California
InterContinental San Francisco
Public CMBS trusts hold $91.4M of the loan on InterContinental San Francisco at 4.145% that reaches maturity on January 6, 2028, in 14 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $91,438,082
- Original balance (same notes)
- $110,000,000
- Interest rate
- 4.145% fixed
- Originated
- December 22, 2017
- Maturity
- January 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- February 5, 2020
- Prepayment premium ends
- October 5, 2027 (yield maintenance)
- Master servicer
- KeyBank Real Estate Capital
- Originator
- n/a
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 888 Howard Street, San Francisco, CA 94103
- Metro
- San Francisco-Oakland-Fremont, CA
- Units, rooms or beds
- 550
- Built
- 2008, renovated 2018
- Value at securitization
- $261.9M (Jul 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.54x |
| Occupancy | 87% | 65% |
| Net operating income | n/a | $3.5M |
| Debt yield | 3.8% |
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 2018-B2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
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 87% when the loan was securitized to 65%.
- At 0.54x, 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 | $91.4M | Late payment but less than 30 days delinquent | No | 0.44x | 66% |
| August 2026 | $91.6M | Payment not received but still in grace period or not yet due | No | 0.44x | 66% |
| July 2026 | $91.9M | Payment not received but still in grace period or not yet due | No | 0.44x | 66% |
| June 2026 | $92.0M | Current | No | 0.44x | 67% |
| May 2026 | $92.3M | Payment not received but still in grace period or not yet due | No | -0.35x | 67% |
| April 2026 | $92.4M | Current | No | -0.35x | 67% |
| March 2026 | $92.7M | Payment not received but still in grace period or not yet due | No | -1.09x | 67% |
| February 2026 | $92.8M | Current | No | -1.09x | 67% |
| January 2026 | $93.0M | Current | No | -1.09x | 67% |
| December 2025 | $93.2M | Current | No | -1.11x | 65% |
| November 2025 | $93.5M | Current | No | -1.11x | 65% |
| October 2025 | $93.7M | Payment not received but still in grace period or not yet due | No | -1.11x | 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.
Where the loan sits
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2018-B3 COMMERCIAL MORTGAGE TRUST | 5 | $41,614,241 | Sep 2026 | SEC filing, September 25, 2026 |
| BENCHMARK 2018-B2 Mortgage Trust | 6 A-1 | $33,215,895 | Sep 2026 | SEC filing, September 28, 2026 |
| BENCHMARK 2018-B2 Mortgage Trust | 6 A-3 | $16,607,947 | Sep 2026 | SEC filing, September 28, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 181 Fremont Street | San Francisco, CA | Office | $250.0M | 3.709% | Apr 2028 | 3.52x | 100% | Current |
| The Gateway | San Francisco, CA | Multifamily | $210.0M | 3.722% | Apr 2028 | 2.91x | 95% | Current |
| Charles Schwab Plaza | San Francisco, CA | Office | $119.4M | 3.555% | Apr 2028 | 2.02x | 100% | Current |
| Pier 70 | San Francisco, CA | Mixed use | $115.0M | 4.878% | Oct 2028 | 3.03x | 100% | Current |
| City Square and Clay Street | Oakland, CA | Mixed use | $90.0M | 4.728% | Feb 2028 | 0.81x | 54% | Current |
| Lake Merritt Plaza | Oakland, CA | Office | $80.0M | 8.012% | Nov 2028 | 1.57x | 75% | Current |
| 400 South El Camino Real | San Mateo, CA | Office | $67.7M | 4.697% | Dec 2028 | 1.48x | 99% | Current |
| 600 Clipper | Belmont, CA | Office | $54.3M | 3.717% | Jan 2028 | 2.20x | 100% | Current |
All loans maturing in 2028 · All San Francisco-Oakland-Fremont loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 8, 2026, September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.