Multifamily · West Lafayette, Indiana
Launch Apartments
Launch Apartments is financed with a $22.2M CMBS loan at 5.126% that reaches maturity on February 6, 2028, in 15 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $22,153,310
- Original balance (same notes)
- $24,700,000
- Interest rate
- 5.126% fixed
- Originated
- February 2, 2018
- Maturity
- February 6, 2028
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- December 5, 2027
- Master servicer
- Midland Loan Services
- Originator
- Cantor Commercial Real Estate Lending, L.P.
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 400 N River Road, West Lafayette, IN 47906
- Units, rooms or beds
- 729
- Built
- 1963
- Value at securitization
- $38.9M (Dec 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.75x | 1.91x |
| Occupancy | 99% | 88% |
| Net operating income (annualized from 3 months) | $2.2M | $3.1M |
| Debt yield | 14.1% |
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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 2026.
- Occupancy down 10 points 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 fallen from 99% when the loan was securitized to 88%.
- Net operating income is 39% above the underwritten figure ($3.1M a year against $2.2M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.75x at securitization to 1.91x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $22.2M | Late payment but less than 30 days delinquent | No | 1.91x | 88% |
| August 2026 | $22.2M | Current | No | 1.91x | 87% |
| July 2026 | $22.2M | Current | No | 1.91x | 87% |
| June 2026 | $22.2M | Current | No | 1.91x | 87% |
| May 2026 | $22.3M | Current | No | n/a | n/a |
| April 2026 | $22.3M | Current | No | 2.13x | 86% |
| March 2026 | $22.3M | Current | No | 2.13x | 98% |
| February 2026 | $22.4M | Current | No | 2.13x | 98% |
| January 2026 | $22.4M | Current | No | 2.13x | 98% |
| December 2025 | $22.5M | Current | No | 2.13x | 98% |
| November 2025 | $22.5M | Current | No | 2.13x | 98% |
| October 2025 | $22.5M | Current | No | 2.13x | 64% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C5 | 9 | $22,153,310 | Sep 2026 | SEC filing, September 25, 2026 |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.