Retail · Waterbury, Connecticut
Steelbrook Plaza
Steelbrook Plaza is financed with a $3.0M CMBS loan at 5.47% that reaches maturity on May 11, 2028, in 18 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $3,041,992
- Original balance (same notes)
- $3,500,000
- Interest rate
- 5.47% fixed
- Originated
- May 3, 2018
- Maturity
- May 11, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- March 10, 2028
- Master servicer
- Trimont LLC
- Originator
- C-III Commercial Mortgage LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1650 Watertown Avenue, Waterbury, CT 06708
- Rentable area
- 43,327 sq ft
- Built
- 1987, renovated 2018
- Largest tenants
- Dollar General; Lepage Bakeries; MARIO'S PIZZA
- Value at securitization
- $5.3M (Mar 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.52x | 1.32x |
| Occupancy | 100% | 80% |
| Net operating income (annualized from 6 months) | $361K | $317K |
| Debt yield | 10.4% |
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 Wells Fargo Commercial Mortgage Trust 2018-C45 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
- Largest tenant's lease ends within 12 months
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 100% when the loan was securitized to 80%.
- Net operating income is 12% below the underwritten figure ($317K a year against $361K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.52x at securitization to 1.32x on the latest statements.
- The filing gives Mar 2027 as the lease end date for the largest tenant (Dollar General), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.0M | Current | No | 1.32x | 80% |
| August 2026 | $3.0M | Current | No | 1.64x | 80% |
| July 2026 | $3.1M | Current | No | 1.64x | 80% |
| June 2026 | $3.1M | Current | No | 1.64x | 80% |
| May 2026 | $3.1M | Current | No | 1.64x | 80% |
| April 2026 | $3.1M | Current | No | 1.64x | 80% |
| March 2026 | $3.1M | Current | No | 1.64x | 80% |
| February 2026 | $3.1M | Current | No | 1.64x | 80% |
| January 2026 | $3.1M | Current | No | 1.54x | 80% |
| December 2025 | $3.1M | Current | No | 1.54x | 80% |
| November 2025 | $3.1M | Current | No | 1.54x | 80% |
| October 2025 | $3.1M | Current | No | 1.45x | 80% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C45 | 38 | $3,041,992 | Sep 2026 | SEC filing, September 29, 2026 |
Other Connecticut loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Westfarms | West Hartford, CT | Retail | $242.0M | 7.795% | Sep 2028 | 1.95x | 92% | Current |
| Brookview Commons | Danbury, CT | Multifamily | $58.0M | 6.00% | Jun 2028 | 1.18x | 98% | Current |
| Bedford Square | Westport, CT | Mixed use | $48.0M | 5.452% | Dec 2028 | 1.84x | 93% | Current |
| Danbury Commerce Portfolio | CT | Industrial | $38.0M | 5.725% | Nov 2028 | 1.59x | 99% | Current |
| 710 Bridgeport | Shelton, CT | Industrial | $35.6M | 5.05% | Nov 2028 | 1.15x | 72% | Current |
| 330 Railroad Avenue | Greenwich, CT | Office | $16.0M | 4.938% | Jul 2028 | 2.22x | 100% | Current |
| One Hamden Center | Hamden, CT | Office | $13.5M | 5.08% | Sep 2028 | 1.17x | 99% | Current |
| One Sound Shore Drive | Greenwich, CT | Office | $12.9M | 5.14% | Dec 2028 | n/a | n/a | 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.