Hotel · Dallas, Texas
Le Meridien Hotel Dallas
Le Meridien Hotel Dallas is financed with a $40.4M CMBS loan at 5.58% that reaches maturity on March 1, 2029, in 2 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $40,364,725
- Original balance (same notes)
- $42,840,000
- Interest rate
- 5.58% fixed
- Originated
- February 8, 2019
- Maturity
- March 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- November 30, 2028
- Master servicer
- Wells Fargo
- Originator
- MSBNA
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred June 15, 2020
- Workout strategy
- Foreclosure
- Modified
- Yes, most recently January 18, 2023
- Defeasance
- None reported
The property
- Address
- 13402 Noel Road, Dallas, TX 75240
- Metro
- Dallas-Fort Worth-Arlington, TX
- Rentable area
- 205,745 sq ft
- Units, rooms or beds
- 258
- Built
- 2002, renovated 2018
- Value at securitization
- $61.2M (Dec 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.72x | 0.91x |
| Occupancy | 82% | 68% |
| Net operating income (annualized from 3 months) | $5.1M | $908K |
| Debt yield | 2.3% |
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 Morgan Stanley Capital I Trust 2019-L2 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- 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 82% when the loan was securitized to 68%.
- Net operating income is 82% below the underwritten figure ($908K a year against $5.1M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.72x at securitization to 0.91x on the latest statements.
- At 0.91x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $48.5M (February 25, 2026), against $61.2M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $40.4M | 90+ days delinquent | Yes | 0.91x | 68% |
| August 2026 | $40.4M | 90+ days delinquent | Yes | n/a | n/a |
| July 2026 | $40.4M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $40.4M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $40.4M | 90+ days delinquent | Yes | n/a | n/a |
| April 2026 | $40.4M | 90+ days delinquent | Yes | 0.85x | 63% |
| March 2026 | $40.4M | 90+ days delinquent | Yes | 0.85x | 63% |
| February 2026 | $40.4M | 90+ days delinquent | Yes | 0.85x | 63% |
| January 2026 | $40.4M | 90+ days delinquent | Yes | 1.12x | 66% |
| December 2025 | $40.4M | 90+ days delinquent | Yes | 1.12x | 66% |
| November 2025 | $40.4M | 90+ days delinquent | Yes | 1.12x | 66% |
| October 2025 | $40.4M | 90+ days delinquent | Yes | 1.25x | 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.
Special-servicing history
- Transferred to the special servicer June 15, 2020, 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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L2 | 4 | $40,364,725 | Sep 2026 | SEC filing, October 2, 2026 |
Other Dallas-Fort Worth-Arlington loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Stonebriar Centre | Frisco, TX | Retail | $255.0M | 6.999% | Jul 2029 | 2.44x | 93% | Current |
| Legacy Corporate Centre I & II | Plano, TX | Office | $167.4M | 3.37% | Aug 2029 | n/a | n/a | Current |
| Renaissance Plano | Plano, TX | Hotel | $78.4M | 4.45% | Jul 2029 | 2.90x | 68% | Current |
| International Plaza II | Dallas, TX | Office | $78.3M | 7.43% | Oct 2029 | 1.98x | 97% | Current |
| Warwick Melrose & Allerton | Dallas, TX | Hotel | $78.0M | 8.14% | Mar 2029 | n/a | n/a | Current |
| One At&t | Dallas, TX | Office | $71.5M | 4.39% | Jan 2029 | 2.69x | 100% | Current |
| One At&t Plaza | Dallas, TX | Office | $60.0M | 4.39% | Jan 2029 | n/a | n/a | Current |
| Timber Creek Crossing | Dallas, TX | Retail | $57.5M | 6.175% | Feb 2029 | 1.59x | 100% | Current |
All loans maturing in 2029 · All Dallas-Fort Worth-Arlington 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.