Multifamily · Norfolk, Virginia
Sterling Oaks
Sterling Oaks is financed with a $4.1M CMBS loan at 4.365% that reaches maturity on September 6, 2027, in 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
- $4,141,444
- Original balance (same notes)
- $5,000,000
- Interest rate
- 4.365% fixed
- Originated
- August 16, 2017
- Maturity
- September 6, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- June 5, 2027
- Master servicer
- Trimont LLC
- Originator
- Barclays Bank PLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 124 West Little Creek Road, Norfolk, VA 23505
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Units, rooms or beds
- 160
- Built
- 1942, renovated 2000
- Value at securitization
- $7.5M (Jul 2017)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.91x | 1.01x |
| Occupancy | 98% | 98% |
| Net operating income (annualized from 3 months) | $570K | $307K |
| Debt yield | 7.4% |
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 2017-C40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Matures 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
- Net operating income is 46% below the underwritten figure ($307K a year against $570K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.91x at securitization to 1.01x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.1M | Current | No | 1.01x | 98% |
| August 2026 | $4.2M | Current | No | 1.01x | 98% |
| July 2026 | $4.2M | Current | No | 1.01x | 98% |
| June 2026 | $4.2M | Current | No | 1.16x | 97% |
| May 2026 | $4.2M | Current | No | 1.16x | 97% |
| April 2026 | $4.2M | Current | No | 0.89x | 96% |
| March 2026 | $4.2M | Current | No | 0.89x | 96% |
| February 2026 | $4.2M | Current | No | 0.89x | 96% |
| January 2026 | $4.2M | Current | No | 0.89x | 96% |
| December 2025 | $4.2M | Current | No | 0.89x | 96% |
| November 2025 | $4.2M | Current | No | 0.59x | 95% |
| October 2025 | $4.2M | Current | No | 0.59x | 95% |
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 2017-C40 | 40 | $4,141,444 | Sep 2026 | SEC filing, September 29, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Greenbrier Towers I & II | Chesapeake, VA | Office | $12.8M | 4.50% | Mar 2027 | 2.80x | 90% | Current |
| Bennetts Creek Crossing | Suffolk, VA | Retail | $8.1M | 4.56% | Jun 2027 | 1.91x | 97% | Current |
| Hampton Inn Norfolk | Norfolk, VA | Hotel | $7.3M | 4.228% | Jul 2027 | 3.27x | 84% | Current |
| Haynes Furniture Store | Virginia Beach, VA | Retail | $7.2M | 5.097% | Jan 2027 | 2.15x | 100% | Current |
| Hampton Inn & Suites Williamsburg Historic District | Williamsburg, VA | Hotel | $6.5M | 4.45% | Aug 2027 | 1.93x | 53% | Current |
| Las Gaviotas Shopping Center | Chesapeake, VA | Retail | $4.5M | 4.55% | Dec 2027 | 4.57x | 98% | Current |
| 5544 Greenwich Road | Virginia Beach, VA | Office | $2.5M | 5.071% | Aug 2027 | 1.16x | 85% | Current |
All loans maturing in 2027 · 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.