Hotel portfolio, 2 properties · North Carolina
Outerbanks Portfolio
This portfolio is financed with a $3.8M CMBS loan at 5.70% that reaches maturity on April 6, 2031, in 4 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,828,551
- Original balance (same notes)
- $4,300,000
- Interest rate
- 5.70% fixed
- Originated
- March 26, 2021
- Maturity
- April 6, 2031
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- January 5, 2031
- Master servicer
- Trimont LLC
- Originator
- LMF Commercial, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 76
- Value at securitization
- $7.9M (Feb 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.45x | 1.31x |
| Occupancy | 47% | 43% |
| Net operating income | $791K | $422K |
| Debt yield | 11.0% |
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 WELLS FARGO COMMERCIAL MORTGAGE TRUST 2021-C59 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% 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 47% when the loan was securitized to 43%.
- Net operating income is 47% below the underwritten figure ($422K a year against $791K).
- Debt service coverage moved from 2.45x at securitization to 1.31x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.8M | Current | No | 1.31x | 43% |
| August 2026 | $3.8M | Current | No | 1.31x | 43% |
| July 2026 | $3.8M | Current | No | 1.29x | 73% |
| June 2026 | $3.9M | Current | No | 1.29x | 73% |
| May 2026 | $3.9M | Current | No | 1.51x | 50% |
| April 2026 | $3.9M | Current | No | 1.51x | 50% |
| March 2026 | $3.9M | Current | No | 1.51x | 50% |
| February 2026 | $3.9M | Late payment but less than 30 days delinquent | No | 1.51x | 50% |
| January 2026 | $3.9M | Current | No | 1.51x | 50% |
| December 2025 | $3.9M | Current | No | 1.51x | 50% |
| November 2025 | $3.9M | Current | No | 1.51x | 50% |
| October 2025 | $3.9M | Current | No | 0.94x | 46% |
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 |
|---|---|---|---|---|
| WELLS FARGO COMMERCIAL MORTGAGE TRUST 2021-C59 | 52 | $3,828,551 | Sep 2026 | SEC filing, September 29, 2026 |
Other North Carolina loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Old Edwards Portfolio | Highlands, NC | Hotel | $70.0M | 7.089% | Sep 2031 | n/a | n/a | Current |
| Addison Ridge Phases I & III | Fayetteville, NC | Multifamily | $67.0M | 5.60% | Jan 2031 | n/a | n/a | Current |
| Harris Building | Charlotte, NC | Office | $64.0M | 6.367% | Apr 2031 | n/a | n/a | Current |
| Greenrock Estates | Charlotte, NC | Multifamily | $33.0M | 5.92% | Apr 2031 | n/a | n/a | Current |
| Forty 540 Ii | Morrisville, NC | Office | $30.7M | 6.877% | Feb 2031 | n/a | n/a | Current |
| Greensboro-High Point Marriott Airport | Greensboro, NC | Hotel | $23.0M | 7.79% | Jun 2031 | n/a | n/a | Current |
| Paragon Films Sale-Leaseback | Taylorsville, NC | Industrial | $21.8M | 3.45% | Aug 2031 | n/a | n/a | Current |
| Dreamland Shopping Center | Asheville, NC | Retail | $20.1M | 3.356% | Aug 2031 | 8.33x | 83% | 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.