Hotel · Miami Beach, Florida
Soho Beach House Miami
Public CMBS trusts hold $140.0M of the loan on Soho Beach House Miami at 6.99% that reaches maturity on June 1, 2033, in 6 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $140,000,000
- Original balance (same notes)
- $140,000,000
- Interest rate
- 6.99% fixed
- Originated
- May 11, 2023
- Maturity
- June 1, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ended
- June 30, 2025
- Prepayment premium ends
- November 30, 2032 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4385 Collins Avenue, Miami Beach, FL 33140
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Units, rooms or beds
- 50
- Built
- 1940, renovated 2010
- Value at securitization
- $276.0M (Mar 2023)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.51x | 2.91x |
| Occupancy | 77% | 81% |
| Net operating income | $24.9M | $28.9M |
| Debt yield | 20.6% |
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 BANK 2023-BNK46 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 risen from 77% when the loan was securitized to 81%.
- Net operating income is 16% above the underwritten figure ($28.9M a year against $24.9M).
- Debt service coverage moved from 2.51x at securitization to 2.91x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $140.0M | Current | No | 2.91x | 81% |
| August 2026 | $140.0M | Current | No | 2.91x | 81% |
| July 2026 | $140.0M | Current | No | 2.91x | 81% |
| June 2026 | $140.0M | Current | No | 2.91x | 81% |
| May 2026 | $140.0M | Current | No | 2.91x | 81% |
| April 2026 | $140.0M | Current | No | 2.91x | 81% |
| March 2026 | $140.0M | Current | No | 2.45x | 81% |
| February 2026 | $140.0M | Current | No | 2.45x | 81% |
| January 2026 | $140.0M | Current | No | 2.45x | 81% |
| December 2025 | $140.0M | Current | No | 2.45x | 81% |
| November 2025 | $140.0M | Current | No | 2.45x | 81% |
| October 2025 | $140.0M | Current | No | 2.45x | 81% |
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 |
|---|---|---|---|---|
| Benchmark 2023-B39 Mortgage Trust | 8 | $50,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK 2023-BNK46 | 3 | $35,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2023-C21 | 8 | $29,900,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2023-BNK46 | 3B | $14,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2023-BNK46 | 3A | $11,100,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cross County Plaza | West Palm Beach, FL | Retail | $40.0M | 7.66% | Nov 2033 | 1.21x | 100% | Current |
| Boca Corporate Center, Boca Raton (2033 maturity) | Boca Raton, FL | Office | $18.1M | 6.76% | Jan 2033 | 1.83x | 90% | Current |
| 151 NW 24th Street | Miami, FL | Retail | $6.8M | 7.305% | Jan 2033 | n/a | n/a | 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.