Office · Raleigh, North Carolina
The Arbors, Raleigh
The Arbors is financed with a $19.8M CMBS loan at 4.33% that reaches maturity on December 6, 2027, in 13 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $19,826,670
- Original balance (same notes)
- $21,175,500
- Interest rate
- 4.33% fixed
- Originated
- November 16, 2017
- Maturity
- December 6, 2027
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ended
- February 5, 2020
- Prepayment premium ends
- September 5, 2027 (yield maintenance)
- 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
- Partly defeased
The property
- Address
- 3120 & 3128 Highwoods Boulevard and 3200 Atlantic Avenue, Raleigh, NC 27604
- Metro
- Raleigh-Cary, NC
- Rentable area
- 211,504 sq ft
- Built
- 1988
- Largest tenants
- State of North Carolina; Comprehensive Health Management; Kidde Technologies Inc
- Value at securitization
- $30.5M (Sep 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.94x | 2.10x |
| Occupancy | 99% | 82% |
| Net operating income (annualized from 6 months) | $2.5M | $2.7M |
| Debt yield | 13.5% |
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-B1 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 99% when the loan was securitized to 82%.
- Net operating income is 9% above the underwritten figure ($2.7M a year against $2.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.94x at securitization to 2.10x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $19.8M | Current | No | 2.10x | 82% |
| August 2026 | $19.9M | Current | No | 2.05x | 82% |
| July 2026 | $19.9M | Current | No | 2.09x | 82% |
| June 2026 | $19.9M | Current | No | 2.09x | 82% |
| May 2026 | $20.0M | Current | No | 2.09x | 82% |
| April 2026 | $20.0M | Current | No | 2.09x | 82% |
| March 2026 | $20.0M | Current | No | 2.03x | 82% |
| February 2026 | $20.1M | Current | No | 2.03x | 82% |
| January 2026 | $20.1M | Current | No | 2.03x | 82% |
| December 2025 | $20.1M | Current | No | 2.03x | 82% |
| November 2025 | $20.1M | Current | No | 2.03x | 82% |
| October 2025 | $20.2M | Current | No | 2.03x | 82% |
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-B1 Mortgage Trust | 21 | $19,826,670 | Sep 2026 | SEC filing, October 1, 2026 |
Other Raleigh-Cary loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Capital Bank Plaza | Raleigh, NC | Office | $21.2M | 4.68% | May 2027 | 0.90x | 73% | Current |
| Bryan Woods Apartments | Garner, NC | Multifamily | $6.5M | 4.24% | Sep 2027 | 3.49x | 93% | Current |
| Edgewater Place | Raleigh, NC | Retail | $6.3M | 3.94% | Sep 2027 | 3.20x | 100% | Current |
| Days Inn Raleigh Betline | Raleigh, NC | Hotel | $5.2M | 5.913% | Feb 2027 | 2.38x | 77% | Current |
| Excess Storage Centre | Knightdale, NC | Self storage | $4.3M | 4.89% | Jan 2027 | 1.89x | 83% | 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.