Multifamily · Lake Charles, Louisiana
Wilshire Apartments
Wilshire Apartments is financed with a $7.1M CMBS loan at 7.02% that reaches maturity on August 6, 2030, in 3 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $7,140,000
- Original balance (same notes)
- $7,140,000
- Interest rate
- 7.02% fixed
- Originated
- July 9, 2025
- Maturity
- August 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2030
- Master servicer
- Trimont LLC
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4245 5th Avenue, Lake Charles, LA 70607
- Units, rooms or beds
- 191
- Built
- 1977, renovated 2022
- Value at securitization
- $10.4M (May 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.46x | 0.46x |
| Occupancy | 93% | 66% |
| Net operating income (annualized from 6 months) | $743K | $237K |
| Debt yield | 3.3% |
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 Benchmark 2025-V16 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since 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 93% when the loan was securitized to 66%.
- Net operating income is 68% below the underwritten figure ($237K a year against $743K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.46x at securitization to 0.46x on the latest statements.
- At 0.46x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.1M | Late payment but less than 30 days delinquent | No | 0.46x | 66% |
| August 2026 | $7.1M | Current | No | n/a | n/a |
| July 2026 | $8.9M | Current | No | 2.33x | 94% |
| June 2026 | $7.1M | Current | No | n/a | n/a |
| May 2026 | $7.1M | Current | No | n/a | n/a |
| April 2026 | $7.1M | Current | No | n/a | n/a |
| March 2026 | $7.1M | Current | No | n/a | n/a |
| February 2026 | $7.1M | Current | No | n/a | n/a |
| January 2026 | $7.1M | Current | No | n/a | n/a |
| December 2025 | $7.1M | Current | No | n/a | n/a |
| November 2025 | $7.1M | Current | No | n/a | n/a |
| October 2025 | $7.1M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| Benchmark 2025-V16 Mortgage Trust | 29 | $7,140,000 | Sep 2026 | SEC filing, September 30, 2026 |
Other Louisiana loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Neighborhood Mini Storage Sulphur | Sulphur, LA | Self storage | $6.7M | 6.595% | Jan 2030 | n/a | n/a | Current |
| Courtyard by Marriott - Lake Charles LA | Lake Charles, LA | Hotel | $5.1M | 4.08% | Feb 2030 | -2.15x | n/a | With the special servicer and 90+ days delinquent |
| Neighborhood Storage Moss Bluff | Moss Bluff, LA | Self storage | $3.2M | 6.445% | Jan 2030 | n/a | n/a | 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.