Hotel · Charlotte, North Carolina
WoodSpring Suites - Charlotte
WoodSpring Suites - Charlotte is financed with a $10.0M CMBS loan at 6.92% that reaches maturity on January 1, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,977,000
- Original balance (same notes)
- $9,977,000
- Interest rate
- 6.92% fixed
- Originated
- December 18, 2023
- Maturity
- January 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 31, 2028
- Master servicer
- KeyBank National Association
- Originator
- KeyBank National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 7007 MacFarlane Boulevard, Charlotte, NC 28262
- Metro
- Charlotte-Concord-Gastonia, NC-SC
- Units, rooms or beds
- 122
- Built
- 2021
- Value at securitization
- $16.6M (Nov 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.16x | 1.37x |
| Occupancy | 88% | n/a |
| Net operating income | $1.5M | $959K |
| Debt yield | 9.6% |
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 BBCMS Mortgage Trust 2024-5C25 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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 37% below the underwritten figure ($959K a year against $1.5M).
- Debt service coverage moved from 2.16x at securitization to 1.37x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.0M | Current | No | 1.37x | n/a |
| August 2026 | $10.0M | Current | No | n/a | n/a |
| July 2026 | $10.0M | Current | No | n/a | n/a |
| June 2026 | $10.0M | Current | No | n/a | n/a |
| May 2026 | $10.0M | Current | No | n/a | n/a |
| April 2026 | $10.0M | Current | No | 1.91x | 82% |
| March 2026 | $10.0M | Current | No | 1.91x | 82% |
| February 2026 | $10.0M | Current | No | 1.91x | 82% |
| January 2026 | $10.0M | Current | No | 1.91x | 82% |
| December 2025 | $10.0M | Current | No | 1.94x | 85% |
| November 2025 | $10.0M | Current | No | 1.94x | 85% |
| October 2025 | $10.0M | Current | No | 1.94x | 85% |
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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2024-5C25 | 27 | $9,977,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Charlotte-Concord-Gastonia loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Innovation Park | Charlotte, NC | Office | $182.3M | 3.505% | Nov 2029 | 1.22x | 49% | Current |
| Panorama Tower | Charlotte, NC | Mixed use | $71.5M | 7.37% | Mar 2029 | 2.06x | 72% | Current |
| Hilton at University Place | Charlotte, NC | Hotel | $40.4M | 5.10% | Apr 2029 | 1.86x | 70% | Current |
| Whitehall III & V | Charlotte, NC | Office | $31.5M | 3.693% | Dec 2029 | 1.86x | 88% | Current |
| Queen's Grant | Charlotte, NC | Manufactured housing | $29.7M | 6.40% | Sep 2029 | n/a | n/a | Current |
| Gateway Center | Charlotte, NC | Office | $28.4M | 4.95% | Apr 2029 | -0.54x | 9% | With the special servicer and 90+ days delinquent |
| Sharon Square | Charlotte, NC | Office | $24.4M | 4.47% | Dec 2029 | 1.35x | 79% | Current |
| Compucom World Headquarters | Fort Mill, SC | Office | $23.5M | 5.06% | Jan 2029 | 1.79x | 100% | Current |
All loans maturing in 2029 · All Charlotte-Concord-Gastonia loans
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.