Multifamily · Tumwater, Washington
Stonebrook Apartments
Stonebrook Apartments is financed with a $21.5M CMBS loan at 4.896% that reaches maturity on March 6, 2028, in 16 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $21,542,291
- Original balance (same notes)
- $22,750,000
- Interest rate
- 4.896% fixed
- Originated
- February 28, 2018
- Maturity
- March 6, 2028
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- November 5, 2027
- Master servicer
- Trimont LLC
- Originator
- Deutsche Bank AG, acting through its New York Branch
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4820 Rural Road Southwest, Tumwater, WA 98512
- Metro
- Olympia-Lacey-Tumwater, WA
- Units, rooms or beds
- 126
- Built
- 2017
- Value at securitization
- $34.6M (Feb 2018)
Performance
| At securitization | Latest (Dec 2024) | |
|---|---|---|
| DSCR (NOI) | 1.23x | 1.38x |
| Occupancy | 98% | 95% |
| Net operating income | $1.8M | $2.0M |
| Debt yield | 9.3% |
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 Benchmark 2018-B5 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 98% when the loan was securitized to 95%.
- Net operating income is 12% above the underwritten figure ($2.0M a year against $1.8M).
- Debt service coverage moved from 1.23x at securitization to 1.38x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $21.5M | Current | No | 1.38x | 95% |
| August 2026 | $21.6M | Current | No | 1.38x | 95% |
| July 2026 | $21.6M | Current | No | 1.38x | 95% |
| June 2026 | $21.6M | Current | No | 1.38x | 95% |
| May 2026 | $21.7M | Current | No | 1.38x | 95% |
| April 2026 | $21.7M | Current | No | 1.38x | 95% |
| March 2026 | $21.7M | Current | No | 1.38x | 95% |
| February 2026 | $21.8M | Current | No | 1.38x | 95% |
| January 2026 | $21.8M | Current | No | 1.38x | 95% |
| December 2025 | $21.8M | Current | No | 1.38x | 95% |
| November 2025 | $21.9M | Current | No | 1.38x | 95% |
| October 2025 | $21.9M | Current | No | 1.38x | 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 |
|---|---|---|---|---|
| Benchmark 2018-B5 Mortgage Trust | 16 | $21,542,291 | Sep 2026 | SEC filing, September 28, 2026 |
Other Olympia-Lacey-Tumwater loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Lacey Market Square | Lacey, WA | Retail | $26.1M | 8.06% | Nov 2028 | 1.50x | 100% | Current |
| Woodbury Apartments | Olympia, WA | Multifamily | $19.0M | 5.218% | Nov 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Olympia-Lacey-Tumwater 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.