Office · Las Vegas, Nevada
The Plazas at Summerlin
The Plazas at Summerlin is financed with a $12.1M CMBS loan at 4.901% that reaches maturity on January 6, 2028, in 14 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,081,724
- Original balance (same notes)
- $12,800,000
- Interest rate
- 4.901% fixed
- Originated
- December 28, 2017
- Maturity
- January 6, 2028
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- November 5, 2027
- Master servicer
- Midland
- Originator
- LoanCore Capital Markets LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1635-1645 Village Center Circle, Las Vegas, NV 89134
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 88,087 sq ft
- Built
- 1995, renovated 2014
- Largest tenants
- Kingsbam Realty Capital 200; OFFICENEST; The Jimmerson Law Firm, P.C.
- Value at securitization
- $21.8M (Oct 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.93x | 2.11x |
| Occupancy | 96% | 97% |
| Net operating income (annualized from 6 months) | $1.6M | $3.5M |
| Debt yield | 28.6% |
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 COMM 2018-COR3 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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
- Net operating income is 120% above the underwritten figure ($3.5M a year against $1.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.93x at securitization to 2.11x on the latest statements.
- The filing gives Dec 2027 as the lease end date for the largest tenant (Kingsbam Realty Capital 200), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.1M | Current | No | 2.11x | 97% |
| August 2026 | $12.1M | Current | No | n/a | n/a |
| July 2026 | $12.1M | Current | No | n/a | n/a |
| June 2026 | $12.1M | Current | No | n/a | n/a |
| May 2026 | $12.2M | Current | No | n/a | n/a |
| April 2026 | $12.2M | Current | No | 1.92x | 93% |
| March 2026 | $12.2M | Current | No | 1.87x | 93% |
| February 2026 | $12.2M | Current | No | 1.87x | 84% |
| January 2026 | $12.2M | Current | No | 1.87x | 84% |
| December 2025 | $12.2M | Current | No | 1.87x | 84% |
| November 2025 | $12.3M | Current | No | 1.87x | 84% |
| October 2025 | $12.3M | 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 |
|---|---|---|---|---|
| COMM 2018-COR3 Mortgage Trust | 24 | $12,081,724 | Sep 2026 | SEC filing, September 25, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Montecito Crossing | Las Vegas, NV | Retail | $150.0M | 4.191% | Jan 2028 | n/a | n/a | Current |
| Showcase II | Las Vegas, NV | Retail | $128.0M | 4.896% | May 2028 | 1.58x | 100% | Current |
| Miracle Mile Shops | Las Vegas, NV | Retail | $106.3M | 6.991% | Jun 2028 | 1.51x | 88% | Current |
| Miracle Mile Mall | Las Vegas, NV | Retail | $50.0M | 6.991% | Jun 2028 | 1.51x | 88% | Current |
| Sahara Center | Las Vegas, NV | Retail | $37.0M | 4.366% | May 2028 | 2.63x | 75% | Current |
| River Valley MHC Portfolio | Las Vegas, NV | Manufactured housing | $33.1M | 4.91% | Aug 2028 | 1.70x | 92% | Current |
| Desert Marketplace | Las Vegas, NV | Retail | $31.2M | 5.415% | Nov 2028 | 1.38x | 99% | Current |
| The Grove Apartments, Las Vegas | Las Vegas, NV | Multifamily | $21.3M | 5.24% | Dec 2028 | 2.03x | 87% | Current |
All loans maturing in 2028 · All Las Vegas-Henderson-North Las Vegas loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.