Hotel · Newark, Delaware
SpringHill Suites Newark
SpringHill Suites Newark is financed with a $18.3M CMBS loan at 4.20% that reaches maturity on September 5, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,250,485
- Original balance (same notes)
- $20,500,000
- Interest rate
- 4.20%
- Originated
- August 27, 2019
- Maturity
- September 5, 2029
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Natixis
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 402 Ogletown Road, Newark, DE 19711
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Units, rooms or beds
- 132
- Built
- 2018
- Value at securitization
- $29.3M (Jul 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.39x |
| Occupancy | 71% | 58% |
| Net operating income | n/a | $1.7M |
| Debt yield | 9.2% |
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 BBCMS Mortgage Trust 2019-C5 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
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 71% when the loan was securitized to 58%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $18.3M | Not reported | No | 1.39x | 58% |
| August 2026 | $18.3M | Not reported | No | 1.39x | 58% |
| July 2026 | $18.3M | Not reported | No | 1.39x | 71% |
| June 2026 | $18.4M | Not reported | No | 1.47x | 71% |
| May 2026 | $18.4M | Not reported | No | 1.47x | 71% |
| April 2026 | $18.4M | Not reported | No | 1.47x | 100% |
| March 2026 | $18.5M | 30-59 days delinquent | No | 1.43x | 100% |
| February 2026 | $18.5M | Late payment but less than 30 days delinquent | No | 1.43x | 100% |
| January 2026 | $18.5M | Not reported | No | 1.43x | 73% |
| December 2025 | $18.6M | Not reported | No | 1.43x | 73% |
| November 2025 | $18.6M | Not reported | No | 1.42x | 73% |
| October 2025 | $18.7M | Late payment but less than 30 days delinquent | No | 1.42x | 73% |
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 2019-C5 | 20 | $18,250,485 | Sep 2026 | SEC filing, September 29, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cira Square | Philadelphia, PA | Office | $135.0M | 6.851% | Jun 2029 | 2.98x | 100% | Current |
| The Piazza | Philadelphia, PA | Multifamily | $108.5M | 5.91% | Aug 2029 | 1.15x | 100% | Current |
| Duane Morris Plaza | Philadelphia, PA | Office | $105.3M | 3.844% | Nov 2029 | 1.69x | 92% | Current |
| 3001 Red Lion Road | Philadelphia, PA | Office | $91.8M | 3.379% | Nov 2029 | n/a | n/a | Current |
| Hilton Penn's Landing | Philadelphia, PA | Hotel | $70.0M | 4.88% | Aug 2029 | 1.37x | 69% | Current |
| Presidential City | Philadelphia, PA | Multifamily | $60.0M | 3.498% | Sep 2029 | 0.91x | 92% | Current |
| One & Olney | Philadelphia, PA | Retail | $50.0M | 3.48% | Oct 2029 | 3.09x | 99% | Current |
| 1000 Chesterbrook | Berwyn, PA | Office | $37.9M | 4.14% | Oct 2029 | 1.72x | 100% | Current |
All loans maturing in 2029 · All Philadelphia-Camden-Wilmington 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.