Hotel · Hillsboro, Oregon
Staybridge Suites Hillsboro - Orenco Station
Staybridge Suites Hillsboro - Orenco Station is financed with a $16.8M CMBS loan at 7.20% that reaches maturity on May 6, 2033, in 6 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $16,815,276
- Original balance (same notes)
- $17,000,000
- Interest rate
- 7.20% fixed
- Originated
- April 13, 2023
- Maturity
- May 6, 2033
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2033
- Master servicer
- Trimont LLC
- Originator
- LMF
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 7715 Northeast Cherry Drive, Hillsboro, OR 97124
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Units, rooms or beds
- 80
- Built
- 2020
- Value at securitization
- $28.1M (Mar 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.58x | 0.92x |
| Occupancy | 88% | 65% |
| Net operating income | $2.2M | $1.3M |
| Debt yield | 7.5% |
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 MSWF Commercial Mortgage Trust 2023-1 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 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 88% when the loan was securitized to 65%.
- Net operating income is 42% below the underwritten figure ($1.3M a year against $2.2M).
- Debt service coverage moved from 1.58x at securitization to 0.92x on the latest statements.
- At 0.92x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $16.8M | Late payment but less than 30 days delinquent | No | 0.92x | 65% |
| August 2026 | $16.8M | Late payment but less than 30 days delinquent | No | 0.92x | 65% |
| July 2026 | $16.8M | Late payment but less than 30 days delinquent | No | 0.92x | 65% |
| June 2026 | $16.8M | Current | No | 1.06x | 70% |
| May 2026 | $16.9M | Late payment but less than 30 days delinquent | No | 1.06x | 70% |
| April 2026 | $16.9M | Current | No | 1.15x | 79% |
| March 2026 | $16.9M | Current | No | 1.15x | 79% |
| February 2026 | $16.9M | Current | No | 1.15x | 79% |
| January 2026 | $16.9M | Current | No | 1.23x | 79% |
| December 2025 | $16.9M | Late payment but less than 30 days delinquent | No | 1.23x | 79% |
| November 2025 | $16.9M | Current | No | 1.23x | 79% |
| October 2025 | $16.9M | Current | No | 1.23x | 79% |
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 |
|---|---|---|---|---|
| MSWF Commercial Mortgage Trust 2023-1 | 17 | $16,815,276 | Sep 2026 | SEC filing, October 2, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Sorrento View Apartments | Beaverton, OR | Multifamily | $5.0M | 6.992% | Oct 2033 | 1.90x | 93% | Current |
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.