Hotel · Chesapeake, Virginia
Springhill Suites Chesapeake
Springhill Suites Chesapeake is financed with a $10.5M CMBS loan at 4.90% that reaches maturity on June 6, 2029, in 2 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
- $10,541,940
- Original balance (same notes)
- $12,000,000
- Interest rate
- 4.90% fixed
- Originated
- June 5, 2019
- Maturity
- June 6, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- March 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Deutsche Bank AG, New York Branch
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Modified
- Yes, most recently April 6, 2020
- Defeasance
- None reported
The property
- Address
- 1446 Crossway Blvd, Chesapeake, VA 23320
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Units, rooms or beds
- 132
- Built
- 2008, renovated 2016
- Value at securitization
- $17.9M (Apr 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.12x | 1.83x |
| Occupancy | 81% | 80% |
| Net operating income | $1.6M | $1.4M |
| Debt yield | 13.2% |
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 2019-B12 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage down 0.25x or more from securitization
- Modified
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
- Net operating income is 14% below the underwritten figure ($1.4M a year against $1.6M).
- Debt service coverage moved from 2.12x at securitization to 1.83x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.5M | Current | No | 1.83x | 80% |
| August 2026 | $10.6M | Current | No | 1.83x | 80% |
| July 2026 | $10.6M | Current | No | n/a | n/a |
| June 2026 | $10.6M | Current | No | n/a | n/a |
| May 2026 | $10.6M | Current | No | n/a | n/a |
| April 2026 | $10.6M | Current | No | 1.78x | 79% |
| March 2026 | $10.7M | Current | No | 1.78x | 79% |
| February 2026 | $10.7M | Current | No | n/a | n/a |
| January 2026 | $10.7M | Current | No | n/a | n/a |
| December 2025 | $10.7M | Current | No | n/a | n/a |
| November 2025 | $10.7M | Current | No | n/a | n/a |
| October 2025 | $10.8M | Current | No | n/a | n/a |
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 2019-B12 MORTGAGE TRUST | 32 | $10,541,940 | Sep 2026 | SEC filing, September 30, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Battlefield Tech I - Battlefield | Chesapeake, VA | Office | $108.2M | 5.30% | Apr 2029 | n/a | n/a | Current |
| Dominion Tower | Norfolk, VA | Office | $57.2M | 5.29% | Jan 2029 | 1.49x | 65% | With the special servicer |
| Christopher Crossing Apartments | Newport News, VA | Multifamily | $42.0M | 6.61% | Nov 2029 | 1.55x | 92% | Current |
| Town Point Center | Norfolk, VA | Office | $14.5M | 5.35% | Jan 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| London Bridge Industrial | Virginia Beach, VA | Industrial | $14.0M | 6.56% | Aug 2029 | 1.48x | 100% | Current |
| Delta Hotels | Chesapeake, VA | Hotel | $13.8M | 4.65% | Oct 2029 | n/a | n/a | Current |
| Harbourview North | Suffolk, VA | Retail | $9.5M | 4.98% | Apr 2029 | n/a | n/a | Current |
| Embassy Suites - Williamsburg | Williamsburg, VA | Hotel | $8.6M | 4.55% | Jun 2029 | 1.82x | 66% | Current |
All loans maturing in 2029 · All Virginia Beach-Chesapeake-Norfolk 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.