Hotel portfolio, 65 properties · Multiple locations
Starwood Capital Group Hotel Portfolio
Filed under another name: Larkspur Landing Sunnyvale and 64 other properties, Starwood Capital Hotel Portfolio. Same origination date, rate and maturity in each trust's filing.
Public CMBS trusts hold $176.3M of the loan on this portfolio at 4.486% that reaches maturity on June 1, 2027, in 7 months. As of the Oct 2026 servicer report its status is with the special servicer.
What the special servicer reports
- Transferred
- March 6, 2025
- Transfer reason given
- Imminent default
- Resolution strategy
- Full Payoff
- Pre-negotiation letter
- Appraisal
Loan transferred to Special Servicing effective 2/24/25 due to imminent default. Hello Letter was noticed and PNA has been executed. Collateral consisted of a 65 mixed service hotels, totaling 6,366 keys.
The loan
- Balance in tracked trusts
- $176,275,095
- Original balance (same notes)
- $288,635,000
- Interest rate
- 4.486% fixed
- Originated
- May 24, 2017
- Maturity
- June 1, 2027
- Payments
- Interest only for the full term
- Prepayment lockout ended
- June 1, 2018
- Prepayment premium ends
- March 31, 2027 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Bank of America, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred March 6, 2025
- Workout strategy
- Full Payoff
- Modified
- Yes, most recently September 25, 2025
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 6,366
- Value at securitization
- $956.0M (Apr 2017)
Performance
| Measure | At securitization | Latest (Dec 2024) |
|---|---|---|
| DSCR (NOI) | 2.72x | 1.36x |
| Occupancy | 75% | 65% |
| Net operating income | $71.3M | $35.6M |
No debt yield is shown: the notes in the trusts below add up to only part of this loan, and the rest is held outside the public trusts tracked here, so the whole balance is not in these filings.
Comparable loans: hotel properties in Multiple locations, with NOI, occupancy and value.
Watch flags
Computed from the Wells Fargo Commercial Mortgage Trust 2017-C40 filing for the reporting period ending October 13, 2026, filed with the SEC October 27, 2026.
- With the special servicer
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Matures within 12 months
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (November 2025 to October 2026).
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 75% when the loan was securitized to 65%.
- Net operating income is 50% below the underwritten figure ($35.6M a year against $71.3M).
- Debt service coverage moved from 2.72x at securitization to 1.36x on the latest statements.
Who is behind this loan
- Non-recourse carveout guarantor
- Shown with Pro
- Sponsor
- Shown with Pro
- Principal / carveout guarantor
- Shown with Pro
- Carve-out guarantor
- Shown with Pro
- Guarantor and sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Jun 2017.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Appraisal reduction and advances
- Appraisal reduction
- $3,312,047, October 13, 2026
- P&I advances outstanding
- $158,363
From the trust's monthly trustee report. An appraisal reduction cuts how much interest the servicer advances to bondholders when a loan's new appraisal falls short.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $176.3M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
| September 2026 | $176.3M | Current | Yes | 1.36x | 65% |
| August 2026 | $181.6M | Current | Yes | 1.36x | 65% |
| July 2026 | $200.8M | Current | Yes | 1.36x | 65% |
| June 2026 | $204.9M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
| May 2026 | $217.8M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
| April 2026 | $227.8M | Current | Yes | 1.36x | 65% |
| March 2026 | $240.1M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
| February 2026 | $252.7M | Current | Yes | 1.36x | 65% |
| January 2026 | $264.0M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
| December 2025 | $269.0M | Current | Yes | 1.36x | 65% |
| November 2025 | $270.6M | Late payment but less than 30 days delinquent | Yes | 1.36x | 65% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Full history back to June 2017. See it with Pro.
Special-servicing history
- Transferred to the special servicer March 6, 2025, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
The loan is split into 9 notes held by different trusts. Each trust reports its own piece.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2017-BNK5 | 2 | $44,277,182 | Oct 2026 | SEC filing, October 30, 2026 |
| Wells Fargo Commercial Mortgage Trust 2017-C38 | 4 | $30,535,987 | Oct 2026 | SEC filing, October 27, 2026 |
| JPMCC Commercial Mortgage Securities Trust 2017-JP7 | 4 | $27,482,389 | Oct 2026 | SEC filing, October 27, 2026 |
| Wells Fargo Commercial Mortgage Trust 2017-C39 | 10 | $24,428,790 | Oct 2026 | SEC filing, October 27, 2026 |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2017-P8 | 8 | $19,431,576 | Oct 2026 | SEC filing, October 30, 2026 |
| JPMCC Commercial Mortgage Securities Trust 2017-JP7 | 4A | $9,160,796 | Oct 2026 | SEC filing, October 27, 2026 |
| Benchmark 2018-B1 Mortgage Trust | 27 | $8,743,980 | Oct 2026 | SEC filing, October 30, 2026 |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2017-P8 | 8A | $6,107,197 | Oct 2026 | SEC filing, October 30, 2026 |
| Wells Fargo Commercial Mortgage Trust 2017-C40 | 21 | $6,107,197 | Oct 2026 | SEC filing, October 27, 2026 |
Other hotel loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Grand Hyatt Seattle | Seattle, WA | Hotel | $133.0M | 4.74% | Jun 2027 | -0.24x | 66% | Current |
| JW Marriott Desert Springs | Palm Desert, CA | Hotel | $128.0M | 4.995% | Jan 2027 | 11.38x | 70% | Current |
| Renaissance Seattle Hotel | Seattle, WA | Hotel | $127.0M | 4.81% | Jun 2027 | 0.41x | 66% | Current |
| The Standard Highline NYC | New York, NY | Hotel | $103.4M | 4.30% | Nov 2027 | 1.99x | 75% | Not reported |
| Larkspur Landing Sunnyvale and 64 other properties | Sunnyvale, CA | Hotel | $100.4M | 4.486% | Jun 2027 | n/a | n/a | With the special servicer |
| Rochester Marriott and 3 other properties | Rochester, MN | Hotel | $86.2M | 4.741% | Nov 2027 | n/a | n/a | Current |
| Atlanta and Anchorage Hotel Portfolio | 2 properties | Hotel | $76.1M | 5.73% | Mar 2027 | 2.40x | 56% | Current |
| Hyatt Regency Jacksonville | Jacksonville, FL | Hotel | $73.5M | 6.868% | Oct 2027 | 3.79x | 72% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.