Other portfolio, 2 properties · California
Stockton Portfolio
Public CMBS trusts hold $6.5M of the loan on this portfolio at 4.965% that reaches maturity on June 6, 2028, in 19 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,458,466
- Original balance (same notes)
- $7,040,000
- Interest rate
- 4.965% fixed
- Originated
- May 29, 2018
- Maturity
- June 6, 2028
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- February 5, 2028
- Master servicer
- Trimont LLC
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Value at securitization
- $9.7M
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.68x | 1.18x |
| Occupancy | 94% | 83% |
| Net operating income | $760K | $533K |
| Debt yield | 8.3% |
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 Morgan Stanley Capital I Trust 2018-H3 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 94% when the loan was securitized to 83%.
- Net operating income is 30% below the underwritten figure ($533K a year against $760K).
- Debt service coverage moved from 1.68x at securitization to 1.18x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.5M | Current | No | 1.18x | 83% |
| August 2026 | $6.5M | Current | No | 1.18x | 83% |
| July 2026 | $6.5M | Current | No | 1.18x | 83% |
| June 2026 | $6.5M | Current | No | 1.18x | 83% |
| May 2026 | $6.5M | Current | No | 1.18x | 83% |
| April 2026 | $6.5M | Current | No | 1.18x | 83% |
| March 2026 | $6.5M | Current | No | 1.63x | 77% |
| February 2026 | $6.5M | Current | No | 1.63x | 77% |
| January 2026 | $6.5M | Current | No | 1.63x | 77% |
| December 2025 | $6.6M | Current | No | 1.63x | 77% |
| November 2025 | $6.6M | Current | No | 1.63x | 77% |
| October 2025 | $6.6M | Current | No | 1.63x | 77% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2018-H3 | 45 | $3,579,819 | Sep 2026 | SEC filing, October 2, 2026 |
| Morgan Stanley Capital I Trust 2018-H3 | 45A | $2,878,647 | Sep 2026 | SEC filing, October 2, 2026 |
Other California loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Apple Campus 3, Sunnyvale (2028 maturity), loan 1 in BANK 2018-BNK10 | Sunnyvale, CA | Office | $310.0M | 3.365% | Jan 2028 | 3.78x | 100% | Current |
| Moffett Towers - Buildings E,f,g | Sunnyvale, CA | Office | $284.0M | 4.131% | Oct 2028 | 3.51x | 100% | Current |
| 181 Fremont Street | San Francisco, CA | Office | $250.0M | 3.709% | Apr 2028 | 3.52x | 100% | Current |
| The Gateway | San Francisco, CA | Multifamily | $210.0M | 3.722% | Apr 2028 | 2.91x | 95% | Current |
| Aliso Viejo Commerce Center | Aliso Viejo, CA | Mixed use | $174.2M | 4.89% | Feb 2028 | n/a | n/a | Current |
| Moffett Towers II - Building 1 | Sunnyvale, CA | Office | $158.6M | 3.894% | Apr 2028 | 2.23x | 100% | Current |
| Airport Business Center, Irvine | Irvine, CA | Industrial | $150.0M | 4.375% | Feb 2028 | 3.15x | 90% | Current |
| Charles Schwab Plaza | San Francisco, CA | Office | $119.4M | 3.555% | Apr 2028 | 2.02x | 100% | 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.