Retail · Durham, North Carolina
Willowdaile Shopping Center
Willowdaile Shopping Center is financed with a $6.3M CMBS loan at 5.53% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $6,254,841
- Original balance (same notes)
- $6,800,000
- Interest rate
- 5.53% fixed
- Originated
- September 17, 2018
- Maturity
- October 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Rialto Mortgage Finance, LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred September 24, 2021
- Workout strategy
- Bankruptcy
- Defeasance
- None reported
The property
- Address
- 3823 Guess Road at Horton Road, Durham, NC 27705
- Metro
- Durham-Chapel Hill, NC
- Rentable area
- 93,217 sq ft
- Built
- 1985
- Largest tenants
- Ollie's Bargain Outlet; Family Dollar; Bithiah Banquets LLC (t0003960)
- Value at securitization
- $10.0M (Jun 2018)
Performance
| At securitization | Latest (Jun 2025) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 0.94x |
| Occupancy | 88% | 78% |
| Net operating income (annualized from 6 months) | $660K | $443K |
| Debt yield | 7.1% |
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 Wells Fargo Commercial Mortgage Trust 2018-C47 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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.
What the filing shows
- Occupancy has fallen from 88% when the loan was securitized to 78%.
- Net operating income is 33% below the underwritten figure ($443K a year against $660K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.42x at securitization to 0.94x on the latest statements.
- At 0.94x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $8.1M (February 6, 2024), against $10.0M at securitization.
- The filing gives Aug 2026 as the lease end date for the largest tenant (Ollie's Bargain Outlet), 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 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| August 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| July 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| June 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| May 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| April 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| March 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| February 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| January 2026 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| December 2025 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| November 2025 | $6.3M | 90+ days delinquent | Yes | 0.94x | 78% |
| October 2025 | $6.3M | 90+ days delinquent | Yes | 1.03x | 78% |
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 24, 2021, 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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C47 | 47 | $6,254,841 | Sep 2026 | SEC filing, September 29, 2026 |
Other Durham-Chapel Hill loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Indigo Corners | Durham, NC | Retail | $6.8M | 4.955% | Sep 2028 | 1.35x | 77% | 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.