Retail · Cleveland, Ohio
Lee Harvard Shopping Center
Lee Harvard Shopping Center is financed with a $10.4M CMBS loan at 4.78% 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
- $10,413,293
- Original balance (same notes)
- $12,200,000
- Interest rate
- 4.78% fixed
- Originated
- April 26, 2018
- Maturity
- May 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- February 5, 2028
- Master servicer
- Midland
- Originator
- AREF
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4013 & 4071 Lee Road 16614, 16800 & 16820 Harvard Ave, Cleveland, OH 44128
- Metro
- Cleveland, OH
- Rentable area
- 205,574 sq ft
- Built
- 1949, renovated 1999
- Largest tenants
- Dave's Supermarket #5809; Walgreens #6659; Cleveland Dental Institute
- Value at securitization
- $18.4M (Mar 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.00x | 2.15x |
| Occupancy | 87% | 84% |
| Net operating income (annualized from 3 months) | $1.5M | $1.7M |
| Debt yield | 16.0% |
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 UBS Commercial Mortgage Trust 2018-C11 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Largest tenant's lease ends within 12 months
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 84%.
- Net operating income is 9% above the underwritten figure ($1.7M a year against $1.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.00x at securitization to 2.15x on the latest statements.
- The filing gives Apr 2027 as the lease end date for the largest tenant (Dave's Supermarket #5809), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.4M | Current | No | 2.15x | 84% |
| August 2026 | $10.4M | Current | No | 2.15x | 84% |
| July 2026 | $10.5M | Late payment but less than 30 days delinquent | No | 2.15x | 84% |
| June 2026 | $10.5M | Current | No | 2.15x | 84% |
| May 2026 | $10.5M | Current | No | n/a | n/a |
| April 2026 | $10.5M | Current | No | 1.95x | 87% |
| March 2026 | $10.5M | Current | No | 1.95x | 87% |
| February 2026 | $10.6M | Current | No | 2.09x | 87% |
| January 2026 | $10.6M | Current | No | 2.09x | 95% |
| December 2025 | $10.6M | Current | No | 2.09x | 95% |
| November 2025 | $10.6M | Current | No | 1.92x | 94% |
| October 2025 | $10.6M | Current | No | 1.92x | 94% |
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2018-C11 | 27 | $10,413,293 | 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 |
| Hyatt Regency at the Arcade (Hyatt Regency Cleveland) | Cleveland, OH | Hotel | $25.0M | 7.99% | May 2028 | 1.24x | 63% | 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 |
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.