Industrial portfolio, 2 properties · Nashville, Tennessee
Pin Oaks
This portfolio is financed with a $11.5M CMBS loan at 4.795% 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
- $11,489,378
- Original balance (same notes)
- $13,400,000
- Interest rate
- 4.795% fixed
- Originated
- June 8, 2018
- Maturity
- July 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- March 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
- Metro
- Nashville-Davidson--Murfreesboro--Franklin, TN
- Value at securitization
- $18.3M (Apr 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.59x | 2.52x |
| Occupancy | 100% | 96% |
| Net operating income (annualized from 6 months) | $1.3M | $2.1M |
| Debt yield | 18.6% |
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.
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 96%.
- Net operating income is 60% above the underwritten figure ($2.1M a year against $1.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.59x at securitization to 2.52x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.5M | Current | No | 2.52x | 96% |
| August 2026 | $11.5M | Current | No | 2.52x | 96% |
| July 2026 | $11.5M | Current | No | 2.19x | 99% |
| June 2026 | $11.6M | Current | No | 2.19x | 99% |
| May 2026 | $11.6M | Current | No | 2.19x | 99% |
| April 2026 | $11.6M | Current | No | 2.65x | 100% |
| March 2026 | $11.6M | Current | No | 2.65x | 100% |
| February 2026 | $11.7M | Current | No | 2.65x | 100% |
| January 2026 | $11.7M | Current | No | 2.66x | 100% |
| December 2025 | $11.7M | Current | No | 2.66x | 100% |
| November 2025 | $11.7M | Current | No | 2.66x | 100% |
| October 2025 | $11.7M | Current | No | 2.76x | 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 | 30 | $11,489,378 | Sep 2026 | SEC filing, September 28, 2026 |
Other Nashville-Davidson--Murfreesboro--Franklin loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Coolsprings Galleria | Franklin, TN | Retail | $131.4M | 4.839% | May 2028 | 1.95x | 93% | Current |
| Sheraton Grand Nashville Downtown | Nashville, TN | Hotel | $130.0M | 5.035% | Oct 2028 | n/a | n/a | Current |
| Sheraton Music City | Nashville, TN | Hotel | $60.1M | 4.94% | Jun 2028 | 1.87x | 70% | Current |
| Hilton Garden Inn Nashville Smyrna | Smyrna, TN | Hotel | $42.7M | 5.00% | Aug 2028 | n/a | n/a | With the special servicer |
| Spring Hill Logistics Center | Spring Hill, TN | Industrial | $25.0M | 4.609% | Jun 2028 | 3.03x | 100% | Current |
| Hickory View Apartments | Nashville, TN | Multifamily | $10.6M | 5.47% | Mar 2028 | 1.81x | 95% | Current |
| Home2 Suites - Franklin Cool Springs | Franklin, TN | Hotel | $10.4M | 5.11% | Dec 2028 | 1.32x | 69% | Current |
| Marketplace Center at Murfreesboro | Murfreesboro, TN | Retail | $7.5M | 5.21% | Oct 2028 | 1.80x | 73% | Current |
All loans maturing in 2028 · All Nashville-Davidson--Murfreesboro--Franklin 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.