Hotel · Scottsdale, Arizona
The Boulders Resort
Public CMBS trusts hold $94.3M of the loan on The Boulders Resort at 5.563% that reaches maturity on July 11, 2032, in 5 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $94,319,263
- Original balance (same notes)
- $100,000,000
- Interest rate
- 5.563% fixed
- Originated
- July 6, 2022
- Maturity
- July 11, 2032
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 10, 2032
- 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
- 34631 North Tom Darlington Drive, Scottsdale, AZ 85266
- Metro
- Phoenix-Mesa-Chandler, AZ
- Units, rooms or beds
- 160
- Built
- 1985, renovated 2016
- Value at securitization
- $232.8M (Jun 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.95x | 2.43x |
| Occupancy | 70% | 69% |
| Net operating income | $20.3M | $16.6M |
| Debt yield | 17.6% |
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 2023-BNK45 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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
- Net operating income is 18% below the underwritten figure ($16.6M a year against $20.3M).
- Debt service coverage moved from 2.95x at securitization to 2.43x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $94.3M | Current | No | 2.43x | 69% |
| August 2026 | $94.4M | Current | No | 2.36x | 67% |
| July 2026 | $94.6M | Current | No | 2.36x | 67% |
| June 2026 | $94.7M | Current | No | 2.22x | 65% |
| May 2026 | $94.8M | Current | No | 2.22x | 65% |
| April 2026 | $94.9M | Current | No | 2.22x | 65% |
| March 2026 | $95.1M | Current | No | 2.22x | 65% |
| February 2026 | $95.2M | Current | No | 2.16x | 65% |
| January 2026 | $95.3M | Current | No | 2.16x | 65% |
| December 2025 | $95.4M | Current | No | 2.17x | 67% |
| November 2025 | $95.6M | Current | No | 2.17x | 67% |
| October 2025 | $95.7M | Current | No | 2.17x | 67% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2022-BNK43 | 4 | $70,739,447 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2023-BNK45 | 12 | $23,579,816 | Sep 2026 | SEC filing, September 29, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| High Street | Phoenix, AZ | Mixed use | $138.4M | 5.352% | Jul 2032 | 1.21x | 91% | Current |
| West Indian School Road | Phoenix, AZ | Self storage | $86.0M | 3.628% | Jan 2032 | n/a | n/a | Current |
| Anytime Storage #58 | Apache Junction, AZ | Self storage | $34.2M | 5.79% | Oct 2032 | n/a | n/a | Current |
| Chandler Tech Center | Chandler, AZ | Office | $24.5M | 5.93% | Sep 2032 | n/a | n/a | Current |
| Home2 Suites by Hilton Phoenix Airport North | Phoenix, AZ | Hotel | $22.3M | 5.59% | Sep 2032 | n/a | n/a | Current |
| Ocotillo Plaza, Chandler | Chandler, AZ | Retail | $15.5M | 3.70% | Jan 2032 | 2.08x | 99% | Current |
| Peoria Center at Arrowhead | Peoria, AZ | Office | $14.4M | 4.03% | Jan 2032 | 2.71x | 100% | Current |
| Safeway at Vistancia Marketplace | Peoria, AZ | Retail | $12.5M | 5.53% | May 2032 | 1.50x | 100% | 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.