Multifamily · Philadelphia, Pennsylvania
1413 Germantown Avenue
1413 Germantown Avenue is financed with a $10.7M CMBS loan at 3.98% that reaches maturity on December 1, 2029, in 3 years and 1 month. 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
- $10,706,571
- Original balance (same notes)
- $11,800,000
- Interest rate
- 3.98% fixed
- Originated
- November 12, 2019
- Maturity
- December 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- August 31, 2029
- Master servicer
- Trimont LLC
- Originator
- CIBC Inc.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred November 6, 2024
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 1413 Germantown Avenue, Philadelphia, PA 19122
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Units, rooms or beds
- 50
- Built
- 2018
- Value at securitization
- $17.4M (Aug 2019)
Performance
| At securitization | Latest (Jun 2025) | |
|---|---|---|
| DSCR (NOI) | 1.51x | 1.02x |
| Occupancy | 94% | 90% |
| Net operating income (annualized from 6 months) | $1.0M | $692K |
| Debt yield | 6.5% |
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 UBS Commercial Mortgage Trust 2019-C18 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- 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 94% when the loan was securitized to 90%.
- Net operating income is 32% below the underwritten figure ($692K a year against $1.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.51x at securitization to 1.02x on the latest statements.
- The most recent valuation in the filing is $12.7M (February 19, 2026), against $17.4M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| August 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| July 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| June 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| May 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| April 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| March 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| February 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| January 2026 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| December 2025 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| November 2025 | $10.7M | 90+ days delinquent | Yes | 1.02x | 90% |
| October 2025 | $10.7M | 90+ days delinquent | Yes | 0.90x | 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.
Special-servicing history
- Transferred to the special servicer November 6, 2024, 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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C18 | 29 | $10,706,571 | Sep 2026 | SEC filing, September 28, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cira Square | Philadelphia, PA | Office | $135.0M | 6.851% | Jun 2029 | 2.98x | 100% | Current |
| The Piazza | Philadelphia, PA | Multifamily | $108.5M | 5.91% | Aug 2029 | 1.15x | 100% | Current |
| Duane Morris Plaza | Philadelphia, PA | Office | $105.3M | 3.844% | Nov 2029 | 1.69x | 92% | Current |
| 3001 Red Lion Road | Philadelphia, PA | Office | $91.8M | 3.379% | Nov 2029 | n/a | n/a | Current |
| Hilton Penn's Landing | Philadelphia, PA | Hotel | $70.0M | 4.88% | Aug 2029 | 1.37x | 69% | Current |
| Presidential City | Philadelphia, PA | Multifamily | $60.0M | 3.498% | Sep 2029 | 0.91x | 92% | Current |
| One & Olney | Philadelphia, PA | Retail | $50.0M | 3.48% | Oct 2029 | 3.09x | 99% | Current |
| 1000 Chesterbrook | Berwyn, PA | Office | $37.9M | 4.14% | Oct 2029 | 1.72x | 100% | Current |
All loans maturing in 2029 · All Philadelphia-Camden-Wilmington 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.