Office portfolio, 2 properties · Arizona
Liberty Portfolio
Public CMBS trusts hold $90.7M of the loan on this portfolio at 4.755% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $90,700,000
- Original balance (same notes)
- $90,700,000
- Interest rate
- 4.755% fixed
- Originated
- September 26, 2018
- Maturity
- October 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Barclays Bank PLC/Cantor Commercial Real Estate Lending, L.P./Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Metro
- Phoenix-Mesa-Chandler, AZ
- Value at securitization
- $256.7M
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.89x | 1.75x |
| Occupancy | 100% | 97% |
| Net operating income | $15.1M | $14.0M |
| Debt yield | 15.4% |
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 Wells Fargo Commercial Mortgage Trust 2018-C48 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 100% when the loan was securitized to 97%.
- Net operating income is 7% below the underwritten figure ($14.0M a year against $15.1M).
- Debt service coverage moved from 1.89x at securitization to 1.75x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $90.7M | Current | No | 1.75x | 97% |
| August 2026 | $90.7M | Current | No | 1.75x | 97% |
| July 2026 | $90.7M | Late payment but less than 30 days delinquent | No | 1.75x | 97% |
| June 2026 | $90.7M | Current | No | 1.75x | 97% |
| May 2026 | $90.7M | Current | No | 1.75x | 97% |
| April 2026 | $90.7M | Late payment but less than 30 days delinquent | No | 1.73x | 97% |
| March 2026 | $90.7M | Payment not received but still in grace period or not yet due | No | 1.73x | 97% |
| February 2026 | $90.7M | Payment not received but still in grace period or not yet due | No | 1.73x | 97% |
| January 2026 | $90.7M | Current | No | 1.77x | 97% |
| December 2025 | $90.7M | Current | No | 1.77x | 97% |
| November 2025 | $90.7M | Current | No | 1.77x | 97% |
| October 2025 | $90.7M | Current | No | 1.77x | 97% |
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 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C6 | 2 | $30,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 4 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C6 | 2A | $12,850,000 | Sep 2026 | SEC filing, September 25, 2026 |
| Wells Fargo Commercial Mortgage Trust 2018-C48 | 25 | $12,850,000 | Sep 2026 | SEC filing, September 29, 2026 |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2018-C6 | 2B | $10,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Marina Heights State Farm | Tempe, AZ | Office | $210.0M | 3.56% | Jan 2028 | 2.93x | 100% | Current |
| Scottsdale Fashion Square | Scottsdale, AZ | Retail | $200.0M | 6.214% | Mar 2028 | 2.08x | n/a | Current |
| Marina Heights | Tempe, AZ | Office | $86.0M | 3.56% | Jan 2028 | 2.99x | 100% | Current |
| PetSmart HQ | Phoenix, AZ | Office | $68.0M | 4.28% | Apr 2028 | 2.28x | 100% | Current |
| Park West Shopping Center | Peoria, AZ | Retail | $58.6M | 7.25% | Jun 2028 | 1.66x | 88% | Current |
| Phoenix Marriott Tempe at the Buttes | Tempe, AZ | Hotel | $56.9M | 5.11% | Oct 2028 | 3.29x | 77% | Current |
| Liberty Center at Rio Salado | Tempe, AZ | Office | $50.0M | 4.755% | Oct 2028 | n/a | n/a | Current |
| Residence Inn & Courtyard Phoenix Downtown | Phoenix, AZ | Hotel | $44.8M | 4.696% | Jul 2028 | 2.46x | 71% | Current |
All loans maturing in 2028 · All Phoenix-Mesa-Chandler 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.