Office · Richmond, Virginia
Summit Suites
Summit Suites is financed with a $2.6M CMBS loan at 5.82% that reaches maturity on November 11, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $2,642,345
- Original balance (same notes)
- $2,925,000
- Interest rate
- 5.82% fixed
- Originated
- October 17, 2018
- Maturity
- November 11, 2028
- Payments
- Interest only for 12 months, then amortizing
- Prepayment lockout ends
- August 10, 2028
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3122 West Marshall Street, Richmond, VA 23230
- Metro
- Richmond, VA
- Rentable area
- 16,022 sq ft
- Built
- 1974, renovated 2017
- Largest tenants
- DWELL DESIGN STUDIO LL; WWEX FRANCHISE HOLDI; GUNS DOT COM LLC
- Value at securitization
- $3.9M (Sep 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.44x | 2.37x |
| Occupancy | 100% | 81% |
| Net operating income (annualized from 6 months) | $297K | $494K |
| Debt yield | 18.7% |
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 BANK 2018-BNK15 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 100% when the loan was securitized to 81%.
- Net operating income is 66% above the underwritten figure ($494K a year against $297K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.44x at securitization to 2.37x on the latest statements.
- The filing gives Dec 2027 as the lease end date for the largest tenant (DWELL DESIGN STUDIO LL), before the loan matures. Lenders look hard at that rollover.
The last 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $2.6M | Current | No | 2.37x | 81% |
| August 2026 | $2.6M | Current | No | 2.37x | 81% |
| June 2026 | $2.7M | Current | No | 1.66x | 81% |
| May 2026 | $2.7M | Current | No | 1.66x | 81% |
| April 2026 | $2.7M | Current | No | 1.78x | 81% |
| March 2026 | $2.7M | Current | No | 1.78x | 81% |
| February 2026 | $2.7M | Current | No | 2.01x | 81% |
| January 2026 | $2.7M | Current | No | 2.01x | 81% |
| December 2025 | $2.7M | Current | No | 2.01x | 100% |
| November 2025 | $2.7M | Current | No | 2.01x | 100% |
| October 2025 | $2.7M | Current | No | 1.82x | 100% |
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 |
|---|---|---|---|---|
| BANK 2018-BNK15 | 53 | $2,642,345 | Sep 2026 | SEC filing, September 29, 2026 |
Other Richmond loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Short Pump Town Center | Richmond, VA | Retail | $170.0M | 8.303% | Aug 2028 | 1.77x | 96% | Current |
| Riverfront Plaza | Richmond, VA | Office | $129.2M | 5.066% | May 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Bank of America Center, Richmond | Richmond, VA | Office | $60.5M | 5.03% | Jul 2028 | 1.77x | 79% | With the special servicer |
| Suntrust Center | Richmond, VA | Office | $41.2M | 4.632% | Jun 2028 | 1.23x | 74% | Current |
| Forest Office Park | Richmond, VA | Office | $18.0M | 4.21% | Jan 2028 | 0.27x | 61% | Current |
| Richmond Self Storage | Richmond, VA | Self storage | $6.5M | 7.88% | Sep 2028 | 1.10x | 72% | Current |
| Nelson and Koger Office Buildings | Richmond, VA | Office | $5.3M | 7.70% | Aug 2028 | 1.96x | 76% | Current |
| Stay Over Suites | Hopewell, VA | Hotel | $4.3M | 5.96% | Feb 2028 | 3.56x | 76% | Late, less than 30 days |
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.