Hotel portfolio, 3 properties · Multiple locations
JAGR Hotel Portfolio
Public CMBS trusts hold $28.9M of the loan on this portfolio at 5.096% that reached maturity on May 1, 2024, 29 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $28,905,107
- Original balance (same notes)
- $29,000,000
- Interest rate
- 5.096% fixed
- Originated
- May 1, 2018
- Maturity
- May 1, 2024
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ended
- November 30, 2018
- Prepayment premium ends
- November 30, 2022 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred March 15, 2023
- Workout strategy
- Other
- Modified
- Yes, most recently November 1, 2020
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 721
- Value at securitization
- $73.5M (Mar 2018)
Performance
| At securitization | Latest (Jun 2024) | |
|---|---|---|
| DSCR (NOI) | 1.75x | 0.05x |
| Occupancy | 64% | 55% |
| Net operating income | $5.6M | $147K |
| Debt yield | 0.5% |
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 Benchmark 2018-B4 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Past maturity
- 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 64% when the loan was securitized to 55%.
- Net operating income is 97% below the underwritten figure ($147K a year against $5.6M).
- Debt service coverage moved from 1.75x at securitization to 0.05x on the latest statements.
- At 0.05x, 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 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| August 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| July 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| June 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| May 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| April 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| March 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| February 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| January 2026 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| December 2025 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| November 2025 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
| October 2025 | $28.9M | Non performing matured balloon | Yes | 0.05x | 55% |
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 15, 2023, 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 |
|---|---|---|---|---|
| Benchmark 2018-B4 Mortgage Trust | 15 | $28,905,107 | Sep 2026 | SEC filing, October 1, 2026 |
Other hotel loans due in 2024
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Hilton Cincinnati Netherland Plaza | Cincinnati, OH | Hotel | $69.4M | 5.35% | Nov 2024 | n/a | n/a | Past maturity and not performing |
| Hilton Melbourne, Melbourne (2024 maturity) | Melbourne, FL | Hotel | $24.5M | 4.819% | Jun 2024 | n/a | n/a | Past maturity and not performing |
| DoubleTree Grand Rapids | Grand Rapids, MI | Hotel | $19.9M | 5.096% | May 2024 | n/a | n/a | Past maturity and not performing |
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.