Office · Huntsville, Alabama
Park Place
Park Place is financed with a $6.0M CMBS loan at 4.81% that reaches maturity on July 6, 2028, in 20 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,004,304
- Original balance (same notes)
- $7,000,000
- Interest rate
- 4.81% fixed
- Originated
- June 27, 2018
- Maturity
- July 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Deutsche Bank AG, acting through its New York Branch
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 6700 and 6703 Odyssey Drive Northwest, Huntsville, AL 35806
- Metro
- Huntsville, AL
- Rentable area
- 78,053 sq ft
- Built
- 1988, renovated 2007
- Largest tenants
- Scientic Inc.; Bell textron Inc; The Charles Stark Draper Laboratory Inc
- Value at securitization
- $9.7M (Apr 2018)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 1.81x | 2.21x |
| Occupancy | 100% | 74% |
| Net operating income (annualized from 9 months) | $798K | $976K |
| Debt yield | 16.3% |
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 Benchmark 2018-B5 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 100% when the loan was securitized to 74%.
- Net operating income is 22% above the underwritten figure ($976K a year against $798K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 1.81x at securitization to 2.21x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.0M | Current | No | 2.21x | 74% |
| August 2026 | $6.0M | Current | No | 2.21x | 74% |
| July 2026 | $6.0M | Current | No | 2.21x | 74% |
| June 2026 | $6.0M | Current | No | 2.21x | 74% |
| May 2026 | $6.1M | Current | No | 2.21x | 74% |
| April 2026 | $6.1M | Current | No | 2.21x | 74% |
| March 2026 | $6.1M | Current | No | 2.21x | 74% |
| February 2026 | $6.1M | Current | No | 2.21x | 74% |
| January 2026 | $6.1M | Current | No | 2.21x | 74% |
| December 2025 | $6.1M | Current | No | 1.87x | 100% |
| November 2025 | $6.1M | Current | No | 1.87x | 100% |
| October 2025 | $6.1M | Current | No | 1.87x | 100% |
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 |
|---|---|---|---|---|
| Benchmark 2018-B5 Mortgage Trust | 45 | $6,004,304 | Sep 2026 | SEC filing, September 28, 2026 |
Other Huntsville loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Westin & Element - Huntsville | Huntsville, AL | Hotel | $25.0M | 4.745% | Oct 2028 | 3.97x | 70% | Current |
| Gallery Shopping Center | Huntsville, AL | Retail | $8.3M | 4.90% | Apr 2028 | 1.97x | 95% | Current |
| North Madison Corners | Madison, AL | Retail | $8.0M | 5.00% | Oct 2028 | n/a | n/a | Current |
| CityLine Added Space Self Storage Memorial Parkway | Huntsville, AL | Self storage | $3.7M | 7.50% | Oct 2028 | n/a | n/a | Current |
| CityLine Added Space Self Storage Sparkman | Huntsville, AL | Self storage | $2.9M | 7.50% | Oct 2028 | 0.77x | 80% | 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.