Office · Austin, Texas
Summit Point
Summit Point is financed with a $2.8M CMBS loan at 5.624% that reaches maturity on June 5, 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
- $2,802,585
- Original balance (same notes)
- $3,206,769
- Interest rate
- 5.624% fixed
- Originated
- May 17, 2018
- Maturity
- June 5, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- September 4, 2020
- Master servicer
- Trimont LLC
- Originator
- Natixis Real Estate Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2512 South Ih-35, Austin, TX 78704
- Metro
- Austin-Round Rock-San Marcos, TX
- Rentable area
- 24,369 sq ft
- Built
- 1983, renovated 2015
- Largest tenants
- Open Text Corporation; HopeNeurological &Medical Services Inc; PrintGlobe LLC
- Value at securitization
- $4.4M (Mar 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.49x | 0.17x |
| Occupancy | 100% | 71% |
| Net operating income (annualized from 3 months) | $329K | $38K |
| Debt yield | 1.4% |
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 CSAIL 2018-CX12 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Largest tenant's lease ends within 12 months
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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 100% when the loan was securitized to 71%.
- Net operating income is 88% below the underwritten figure ($38K a year against $329K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.49x at securitization to 0.17x on the latest statements.
- At 0.17x, the property's reported NOI does not cover its debt service.
- The filing gives Aug 2027 as the lease end date for the largest tenant (Open Text Corporation), 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 | $2.8M | Current | No | 0.17x | 71% |
| August 2026 | $2.8M | Current | No | 0.17x | 71% |
| July 2026 | $2.8M | Current | No | 0.70x | 70% |
| June 2026 | $2.8M | Current | No | 0.70x | 70% |
| May 2026 | $2.8M | Current | No | 0.70x | 70% |
| April 2026 | $2.8M | Current | No | 0.70x | 70% |
| March 2026 | $2.8M | Current | No | 0.70x | 70% |
| February 2026 | $2.8M | Current | No | 0.70x | 70% |
| January 2026 | $2.8M | Current | No | 0.80x | 75% |
| December 2025 | $2.8M | Current | No | 0.80x | 75% |
| November 2025 | $2.9M | Current | No | 0.80x | 75% |
| October 2025 | $2.9M | Current | No | 0.80x | 75% |
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 |
|---|---|---|---|---|
| CSAIL 2018-CX12 Commercial Mortgage Trust | 38 | $2,802,585 | Sep 2026 | SEC filing, September 28, 2026 |
Other Austin-Round Rock-San Marcos loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Starburst Apartments | Austin, TX | Multifamily | $110.0M | 7.37% | May 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 13785 Research Boulevard | Austin, TX | Office | $65.0M | 5.215% | Mar 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 801 Barton Springs | Austin, TX | Office | $34.5M | 4.015% | May 2028 | 0.55x | 100% | Current |
| Staybridge Suites - Austin Airport | Austin, TX | Hotel | $10.5M | 8.12% | Nov 2028 | n/a | n/a | With the special servicer |
| Homewood Suites San Marcos | San Marcos, TX | Hotel | $10.0M | 6.83% | Dec 2028 | 1.71x | 72% | Current |
| Staybridge Suites Austin | Austin, TX | Hotel | $10.0M | 5.17% | Jul 2028 | n/a | n/a | Current |
| The Yard | Austin, TX | Industrial | $9.9M | 4.17% | Feb 2028 | n/a | n/a | Current |
| South Brook Town Center | Austin, TX | Retail | $6.9M | 5.058% | Oct 2028 | 1.64x | 100% | Late, less than 30 days |
All loans maturing in 2028 · All Austin-Round Rock-San Marcos 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.