Hotel · SeaTac, Washington
SureStay Plus SeaTac
SureStay Plus SeaTac is financed with a $4.2M CMBS loan at 7.258% that reaches maturity on March 6, 2033, in 6 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,159,907
- Original balance (same notes)
- $4,300,000
- Interest rate
- 7.258% fixed
- Originated
- March 3, 2023
- Maturity
- March 6, 2033
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- December 5, 2032
- Master servicer
- Midland
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 19260 28th Avenue South, SeaTac, WA 98188
- Metro
- Seattle-Tacoma-Bellevue, WA
- Units, rooms or beds
- 58
- Built
- 2006
- Value at securitization
- $7.4M (Oct 2022)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.04x | 1.60x |
| Occupancy | 71% | 76% |
| Net operating income (annualized from 3 months) | $717K | $570K |
| Debt yield | 13.7% |
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 BMO 2023-C5 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x 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 risen from 71% when the loan was securitized to 76%.
- Net operating income is 21% below the underwritten figure ($570K a year against $717K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.04x at securitization to 1.60x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.2M | Current | No | 1.60x | 76% |
| August 2026 | $4.2M | Current | No | 1.60x | 76% |
| July 2026 | $4.2M | Current | No | 1.60x | 76% |
| June 2026 | $4.2M | Late payment but less than 30 days delinquent | No | 1.60x | 76% |
| May 2026 | $4.2M | Current | No | 1.60x | 76% |
| April 2026 | $4.2M | Current | No | 1.60x | 85% |
| March 2026 | $4.2M | Current | No | 1.60x | 85% |
| February 2026 | $4.2M | Current | No | 1.60x | 85% |
| January 2026 | $4.2M | Late payment but less than 30 days delinquent | No | 1.35x | 76% |
| December 2025 | $4.2M | Current | No | 1.35x | 76% |
| November 2025 | $4.2M | Current | No | 1.35x | 76% |
| October 2025 | $4.2M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| BMO 2023-C5 Mortgage Trust | 31 | $4,159,907 | Sep 2026 | SEC filing, October 2, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2033
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Gateway One | Bellevue, WA | Office | $22.8M | 5.742% | Mar 2033 | 2.82x | 92% | Current |
| Renton WA | Renton, WA | Self storage | $15.3M | 6.704% | Dec 2033 | n/a | n/a | Current |
| Quality Inn SeaTac | SeaTac, WA | Hotel | $6.4M | 7.325% | Mar 2033 | 0.40x | 77% | 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.