Office · Las Vegas, Nevada
Southern Highlands Corporate Center
Southern Highlands Corporate Center is financed with a $11.5M CMBS loan at 5.38% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $11,479,699
- Original balance (same notes)
- $12,250,000
- Interest rate
- 5.38% fixed
- Originated
- October 1, 2018
- Maturity
- October 6, 2028
- Payments
- Interest only for 42 months, then amortizing
- Prepayment lockout ends
- May 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 11411 Southern Highlands Parkway, Las Vegas, NV 89141
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 68,664 sq ft
- Built
- 2004
- Largest tenants
- Lightspeed VT; Olympia Land Corp; Olympia Management Services
- Value at securitization
- $19.0M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.45x | 1.56x |
| Occupancy | 95% | 100% |
| Net operating income (annualized from 6 months) | $1.2M | $1.3M |
| Debt yield | 11.3% |
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 BBCMS Mortgage Trust 2018-C2 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 95% when the loan was securitized to 100%.
- Net operating income is 8% above the underwritten figure ($1.3M a year against $1.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.45x at securitization to 1.56x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.5M | Current | No | 1.56x | 100% |
| August 2026 | $11.5M | Current | No | 1.56x | 100% |
| July 2026 | $11.5M | Current | No | 1.56x | 100% |
| June 2026 | $11.5M | Current | No | 1.56x | 100% |
| May 2026 | $11.5M | Current | No | 1.56x | 100% |
| April 2026 | $11.6M | Current | No | 1.46x | 100% |
| March 2026 | $11.6M | Current | No | 1.46x | 100% |
| February 2026 | $11.6M | Current | No | 1.46x | 100% |
| January 2026 | $11.6M | Current | No | 1.51x | 100% |
| December 2025 | $11.6M | Current | No | 1.51x | 100% |
| November 2025 | $11.6M | Current | No | 1.51x | 100% |
| October 2025 | $11.7M | Current | No | 1.55x | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2018-C2 | 29 | $11,479,699 | Sep 2026 | SEC filing, September 29, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Montecito Crossing | Las Vegas, NV | Retail | $150.0M | 4.191% | Jan 2028 | n/a | n/a | Current |
| Showcase II | Las Vegas, NV | Retail | $128.0M | 4.896% | May 2028 | 1.58x | 100% | Current |
| Miracle Mile Shops | Las Vegas, NV | Retail | $106.3M | 6.991% | Jun 2028 | 1.51x | 88% | Current |
| Miracle Mile Mall | Las Vegas, NV | Retail | $50.0M | 6.991% | Jun 2028 | 1.51x | 88% | Current |
| Sahara Center | Las Vegas, NV | Retail | $37.0M | 4.366% | May 2028 | 2.63x | 75% | Current |
| River Valley MHC Portfolio | Las Vegas, NV | Manufactured housing | $33.1M | 4.91% | Aug 2028 | 1.70x | 92% | Current |
| Desert Marketplace | Las Vegas, NV | Retail | $31.2M | 5.415% | Nov 2028 | 1.38x | 99% | Current |
| The Grove Apartments, Las Vegas | Las Vegas, NV | Multifamily | $21.3M | 5.24% | Dec 2028 | 2.03x | 87% | Current |
All loans maturing in 2028 · All Las Vegas-Henderson-North Las Vegas 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.