Retail · San Antonio, Texas
Pavilions North Shopping Center
Pavilions North Shopping Center is financed with a $15.4M CMBS loan at 4.705% that reaches maturity on November 1, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $15,356,000
- Original balance (same notes)
- $15,356,000
- Interest rate
- 4.705% fixed
- Originated
- October 5, 2018
- Maturity
- November 1, 2028
- Payments
- Amortizing
- Prepayment lockout ended
- December 31, 2020
- Prepayment premium ends
- August 31, 2028 (yield maintenance)
- Master servicer
- KeyBank Real Estate Capital
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 25 Northeast Loop 410, San Antonio, TX 78216
- Metro
- San Antonio-New Braunfels, TX
- Rentable area
- 165,993 sq ft
- Built
- 1990
- Largest tenants
- TPark San Antonio LLC; K&G Men's Center Inc; Deli Management Inc.
- Value at securitization
- $23.8M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | -0.04x |
| Occupancy | 97% | 51% |
| Net operating income | n/a | $-31K |
| Debt yield | -0.2% |
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-B7 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
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 97% when the loan was securitized to 51%.
- At -0.04x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $15.4M | Not reported | No | -0.04x | 51% |
| August 2026 | $15.4M | Not reported | No | -0.04x | 51% |
| July 2026 | $15.4M | Not reported | No | -0.05x | 51% |
| June 2026 | $15.4M | Not reported | No | -0.05x | 51% |
| May 2026 | $15.4M | Not reported | No | -0.05x | 23% |
| April 2026 | $15.4M | Not reported | No | -0.11x | 23% |
| March 2026 | $15.4M | Not reported | No | -0.11x | 23% |
| February 2026 | $15.4M | Not reported | No | 0.19x | 23% |
| January 2026 | $15.4M | Not reported | No | 0.19x | 23% |
| December 2025 | $15.4M | Not reported | No | 0.19x | 23% |
| November 2025 | $15.4M | Not reported | No | 0.84x | 23% |
| October 2025 | $15.4M | Not reported | No | 0.84x | 23% |
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-B7 Mortgage Trust | 30 | $15,356,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other San Antonio-New Braunfels loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Ingram Festival Shopping Center | San Antonio, TX | Retail | $23.1M | 4.544% | Jan 2028 | 1.65x | 100% | Current |
| San Antonio Multifamily Trio | San Antonio, TX | Multifamily | $22.2M | 7.145% | Sep 2028 | 1.14x | 86% | Current |
| Mccreless Market | San Antonio, TX | Retail | $20.5M | 4.70% | Dec 2028 | 2.61x | 94% | Current |
| Network Crossing | San Antonio, TX | Office | $15.9M | 6.80% | Jan 2028 | 1.57x | 68% | Current |
| Interstate Plaza | New Braunfels, TX | Retail | $10.4M | 4.81% | Jul 2028 | 1.77x | 100% | Current |
| Plaza Del Rey | Seguin, TX | Retail | $8.7M | 4.92% | Sep 2028 | n/a | n/a | Current |
| Homewood Suites New Braunfels | New Braunfels, TX | Hotel | $8.7M | 5.652% | Jun 2028 | 1.71x | 80% | Current |
| Windbury Apartments | San Antonio, TX | Multifamily | $8.5M | 4.90% | Mar 2028 | 1.47x | 90% | Current |
All loans maturing in 2028 · All San Antonio-New Braunfels 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.