Hotel · North Charleston, South Carolina
Springhill Suites Charleston
Springhill Suites Charleston is financed with a $12.1M CMBS loan at 7.13% that reaches maturity on August 6, 2029, in 2 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,120,000
- Original balance (same notes)
- $12,120,000
- Interest rate
- 7.13% fixed
- Originated
- July 30, 2024
- Maturity
- August 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Bank of Montreal
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3454 West Montague Avenue, North Charleston, SC 29418
- Metro
- Charleston-North Charleston, SC
- Units, rooms or beds
- 115
- Built
- 2020
- Value at securitization
- $20.5M (May 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.27x | 2.53x |
| Occupancy | 87% | 82% |
| Net operating income (annualized from 6 months) | $2.0M | $4.5M |
| Debt yield | 36.8% |
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 2024-V9 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 87% when the loan was securitized to 82%.
- Net operating income is 124% above the underwritten figure ($4.5M a year against $2.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.27x at securitization to 2.53x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.1M | Current | No | 2.53x | 82% |
| August 2026 | $12.1M | Current | No | n/a | n/a |
| July 2026 | $12.1M | Current | No | n/a | n/a |
| June 2026 | $12.1M | Current | No | n/a | n/a |
| May 2026 | $12.1M | Current | No | n/a | n/a |
| April 2026 | $12.1M | Current | No | 2.05x | 77% |
| March 2026 | $12.1M | Current | No | 2.29x | 80% |
| February 2026 | $12.1M | Current | No | 2.29x | 80% |
| January 2026 | $12.1M | Current | No | 2.29x | 80% |
| December 2025 | $12.1M | Current | No | 2.29x | 80% |
| November 2025 | $12.1M | Current | No | 2.48x | 82% |
| October 2025 | $12.1M | Current | No | 2.48x | 82% |
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 2024-V9 Mortgage Trust | 22 | $12,120,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Charleston-North Charleston loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 8571 Rivers Ave | North Charleston, SC | Office | $21.3M | 4.05% | Nov 2029 | n/a | n/a | Current |
| Oakbrook Station | Summerville, SC | Retail | $18.6M | 6.60% | Jan 2029 | 1.21x | 100% | Current |
| Tru by Hilton Mount Pleasant | Mt Pleasant, SC | Hotel | $13.1M | 7.13% | Aug 2029 | 2.49x | 76% | Current |
| Montague Corners | North Charleston, SC | Retail | $13.1M | 7.29% | Jul 2029 | 1.46x | 90% | Current |
| North Charleston Center | North Charleston, SC | Retail | $12.2M | 4.98% | Mar 2029 | 2.49x | 97% | Current |
| Chef's Store Charleston | Charleston, SC | Retail | $8.9M | 4.47% | Aug 2029 | 2.38x | 100% | Current |
| 349 Coleman Boulevard | Mount Pleasant, SC | Retail | $8.8M | 4.00% | Dec 2029 | 2.61x | 100% | Current |
| Bell MHC | Summerville, SC | Manufactured housing | $5.0M | 6.57% | Aug 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Charleston-North Charleston 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.