Office · Metairie, Louisiana
The Galleria
The Galleria is financed with a $42.0M CMBS loan at 4.25% that reaches maturity on June 1, 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
- $42,000,000
- Original balance (same notes)
- $42,000,000
- Interest rate
- 4.25% fixed
- Originated
- May 30, 2018
- Maturity
- June 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 31, 2028
- Master servicer
- Trimont LLC
- Originator
- Bank of America, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1 Galleria Boulevard, Metairie, LA 70001
- Metro
- New Orleans-Metairie, LA
- Rentable area
- 470,540 sq ft
- Built
- 1986
- Largest tenants
- ENFRA LLC.; Lammico; GSA
- Value at securitization
- $67.6M (Apr 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.83x | 3.52x |
| Occupancy | 84% | 87% |
| Net operating income (annualized from 6 months) | $5.1M | $6.4M |
| Debt yield | 15.3% |
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-BNK13 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 84% when the loan was securitized to 87%.
- Net operating income is 25% above the underwritten figure ($6.4M a year against $5.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.83x at securitization to 3.52x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $42.0M | Current | No | 3.52x | 87% |
| August 2026 | $42.0M | Current | No | 3.32x | 87% |
| July 2026 | $42.0M | Current | No | 3.32x | 87% |
| June 2026 | $42.0M | Current | No | 3.32x | 87% |
| May 2026 | $42.0M | Current | No | 3.03x | 86% |
| April 2026 | $42.0M | Current | No | 3.03x | 86% |
| March 2026 | $42.0M | Current | No | 3.36x | 84% |
| February 2026 | $42.0M | Current | No | 3.36x | 84% |
| January 2026 | $42.0M | Current | No | 3.36x | 84% |
| December 2025 | $42.0M | Current | No | 3.36x | 84% |
| November 2025 | $42.0M | Current | No | 3.36x | 84% |
| October 2025 | $42.0M | Current | No | 3.53x | 79% |
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-BNK13 | 6 | $42,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other New Orleans-Metairie loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Stor-All Tchoupitoulas | New Orleans, LA | Self storage | $23.5M | 5.023% | Mar 2028 | n/a | n/a | Current |
| Hotel Provincial | New Orleans, LA | Hotel | $9.8M | 4.82% | Aug 2028 | n/a | n/a | Current |
| Clearview Palms | Metairie, LA | Retail | $8.7M | 5.27% | Sep 2028 | 1.83x | 93% | Current |
| May & Ellis Building | New Orleans, LA | Mixed use | $8.3M | 5.08% | Oct 2028 | 0.79x | 68% | Current |
| Westbank Village Shopping Center | Harvey, LA | Retail | $8.1M | 9.043% | Nov 2028 | 1.49x | 82% | Current |
| 216 Chartres Street | New Orleans, LA | Multifamily | $2.5M | 5.295% | Dec 2028 | n/a | n/a | Current |
| 111 Veterans | Metairie, LA | Other | $2.3M | 5.819% | May 2028 | 1.59x | 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.