Office · Independence, Ohio
Summit Office Park
Summit Office Park is financed with a $25.0M CMBS loan at 4.865% that reaches maturity on September 6, 2028, in 22 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $25,005,724
- Original balance (same notes)
- $29,000,000
- Interest rate
- 4.865% fixed
- Originated
- August 31, 2018
- Maturity
- September 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- May 5, 2028
- 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
- 4700 Rockside Road & 2-4 Summit Park Drive, Independence, OH 44131
- Metro
- Cleveland, OH
- Rentable area
- 493,461 sq ft
- Built
- 1984
- Largest tenants
- ReliabilityFirst Corporation; Nations Lending Corporation; Fairmount Santrol Inc
- Value at securitization
- $41.3M (Jul 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.90x | 0.79x |
| Occupancy | 82% | 65% |
| Net operating income (annualized from 6 months) | $3.5M | $1.5M |
| Debt yield | 5.9% |
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 DBGS 2018-C1 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 June 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 82% when the loan was securitized to 65%.
- Net operating income is 58% below the underwritten figure ($1.5M a year against $3.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.90x at securitization to 0.79x on the latest statements.
- At 0.79x, 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 | $25.0M | Current | No | 0.79x | 65% |
| August 2026 | $25.1M | Current | No | 0.79x | 65% |
| July 2026 | $25.1M | Current | No | 0.38x | 65% |
| June 2026 | $25.2M | Current | No | 0.38x | 65% |
| May 2026 | $25.2M | Current | No | 1.48x | 65% |
| April 2026 | $25.3M | Current | No | 1.48x | 65% |
| March 2026 | $25.3M | Current | No | 1.48x | 65% |
| February 2026 | $25.4M | Current | No | 1.39x | 68% |
| January 2026 | $25.4M | Current | No | 1.39x | 68% |
| December 2025 | $25.5M | Current | No | 1.39x | 68% |
| November 2025 | $25.5M | Current | No | 1.39x | 68% |
| October 2025 | $25.5M | Current | No | 1.46x | 72% |
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 |
|---|---|---|---|---|
| DBGS 2018-C1 Mortgage Trust | 15 | $25,005,724 | Sep 2026 | SEC filing, October 1, 2026 |
Other Cleveland loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Indian Hills Senior Community | Euclid, OH | Multifamily | $49.1M | 5.13% | Sep 2028 | 1.50x | 88% | Current |
| Steelyard Commons | Cleveland, OH | Retail | $39.6M | 4.855% | Apr 2028 | 2.24x | 84% | Current |
| Hyatt Regency at the Arcade (Hyatt Regency Cleveland) | Cleveland, OH | Hotel | $25.0M | 7.99% | May 2028 | 1.24x | 63% | Current |
| Cross Creek Apartments | Brunswick, OH | Multifamily | $17.1M | 4.841% | Mar 2028 | n/a | n/a | Late, less than 30 days |
| Baricelli Little Italy | Cleveland, OH | Multifamily | $16.8M | 6.417% | Jan 2028 | 0.82x | 92% | Late, less than 30 days |
| The IMG Building | Cleveland, OH | Office | $16.7M | 5.382% | Mar 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Corporate Plaza, Independence | Independence, OH | Office | $16.3M | 4.57% | Jan 2028 | 2.34x | 96% | Current |
| Lee Harvard Shopping Center | Cleveland, OH | Retail | $10.4M | 4.78% | May 2028 | 2.15x | 84% | 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.