Retail portfolio, 2 properties · Paterson, New Jersey
Walgreens, Paterson
This portfolio is financed with a $9.4M CMBS loan at 4.554% that reaches maturity on September 6, 2027, in 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $9,450,000
- Original balance (same notes)
- $9,450,000
- Interest rate
- 4.554% fixed
- Originated
- August 18, 2017
- Maturity
- September 6, 2027
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2027
- Master servicer
- Midland
- Originator
- LoanCore Capital Markets LLC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred September 10, 2025
- Workout strategy
- Pending return to master servicer
- Defeasance
- None reported
The property
- Address
- 350 Preakness Avenue, Paterson, NJ 07502
- Metro
- New York-Newark-Jersey City, NY-NJ
- Value at securitization
- $17.1M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $949K | $953K |
| Debt yield | 10.1% |
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.
- With the special servicer
- Matures within 12 months
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Walgreens | Paterson, NJ | Retail | 100% | 2.18x |
| Fresenius Kidney Care | Chili, NY | HealthCare | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.4M | Late payment but less than 30 days delinquent | Yes | 2.18x | 100% |
| August 2026 | $9.4M | Current | Yes | 2.18x | 100% |
| July 2026 | $9.4M | Current | Yes | n/a | n/a |
| June 2026 | $9.4M | Current | Yes | n/a | n/a |
| May 2026 | $9.4M | Current | Yes | n/a | n/a |
| April 2026 | $9.4M | Current | Yes | 2.17x | 100% |
| March 2026 | $9.4M | Current | Yes | 2.17x | 100% |
| February 2026 | $9.4M | Current | Yes | 2.17x | 100% |
| January 2026 | $9.4M | Payment not received but still in grace period or not yet due | Yes | 1.86x | 100% |
| December 2025 | $9.4M | Late payment but less than 30 days delinquent | Yes | 1.85x | 100% |
| November 2025 | $9.4M | 90+ days delinquent | Yes | 1.85x | 100% |
| October 2025 | $9.4M | 90+ days delinquent | Yes | 1.85x | 100% |
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.
Special-servicing history
- Transferred to the special servicer September 10, 2025, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| COMM 2018-COR3 Mortgage Trust | 30 | $9,450,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other New York-Newark-Jersey City loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| General Motors Building | New York, NY | Mixed use | $726.3M | 3.43% | Jun 2027 | 2.58x | 99% | Current |
| 245 Park Avenue | New York, NY | Office | $700.0M | 3.669% | Jun 2027 | 2.08x | 97% | Current |
| Yorkshire Towers | New York, NY | Multifamily | $318.0M | 3.04% | Jun 2027 | n/a | n/a | Current |
| Olympic Tower | New York, NY | Mixed use | $280.0M | 3.954% | May 2027 | n/a | n/a | Current |
| 85 Broad Street | New York, NY | Office | $241.0M | 3.693% | Jun 2027 | 2.28x | 62% | With the special servicer |
| 225 & 233 Park Avenue South | New York, NY | Office | $235.0M | 3.651% | Jun 2027 | -0.14x | 29% | Current |
| Worldwide Plaza | New York, NY | Office | $235.0M | 3.605% | Nov 2027 | 1.49x | 62% | With the special servicer and 90+ days delinquent |
| 237 Park Avenue | New York, NY | Office | $215.4M | 3.752% | Aug 2027 | 3.71x | 89% | Current |
All loans maturing in 2027 · All New York-Newark-Jersey City 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.