Industrial · Warrendale, Pennsylvania
150 Thornhill
150 Thornhill is financed with a $23.6M CMBS loan at 3.69% that reaches maturity on June 1, 2031, in 4 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $23,602,174
- Original balance (same notes)
- $26,200,000
- Interest rate
- 3.69% fixed
- Originated
- May 26, 2021
- Maturity
- June 1, 2031
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- February 28, 2031
- Master servicer
- Midland
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred April 4, 2025, returned March 2, 2026
- Workout strategy
- Resolved
- Modified
- Yes, most recently December 17, 2025
- Defeasance
- None reported
The property
- Address
- 150 Thornhill Road, Warrendale, PA 15086
- Metro
- Pittsburgh, PA
- Rentable area
- 416,512 sq ft
- Built
- 1977, renovated 1999
- Largest tenants
- EOS ENERGY ENTERPRISE
- Value at securitization
- $38.0M (Mar 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.75x | 1.39x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $2.5M | $2.0M |
| Debt yield | 8.6% |
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 Morgan Stanley Capital I Trust 2021-L6 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage down 0.25x or more from securitization
- Modified
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 20% below the underwritten figure ($2.0M a year against $2.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.75x at securitization to 1.39x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $23.6M | Current | No | 1.39x | 100% |
| August 2026 | $23.6M | Current | No | 1.39x | 100% |
| July 2026 | $23.6M | Current | No | 1.39x | 100% |
| June 2026 | $23.6M | Current | No | 1.39x | 100% |
| May 2026 | $23.7M | Current | No | n/a | n/a |
| April 2026 | $23.7M | Current | No | 1.26x | 100% |
| March 2026 | $23.8M | Current | No | 1.26x | 100% |
| February 2026 | $23.8M | Current | Yes | 1.26x | 100% |
| January 2026 | $23.9M | Current | Yes | 1.26x | 100% |
| December 2025 | $23.9M | Current | Yes | 1.26x | 100% |
| November 2025 | $24.0M | Current | Yes | 1.58x | 100% |
| October 2025 | $24.0M | Current | Yes | 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.
Special-servicing history
- Transferred to the special servicer April 4, 2025, returned to the master servicer March 2, 2026.
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L6 | 10 | $23,602,174 | Sep 2026 | SEC filing, October 2, 2026 |
Other Pittsburgh loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Foster Plaza | Pittsburgh, PA | Office | $85.3M | 3.392% | Jan 2031 | n/a | n/a | Current |
| The Helm on the Allegheny | Pittsburgh, PA | Multifamily | $38.0M | 6.435% | Aug 2031 | n/a | n/a | Current |
| Koppers Building | Pittsburgh, PA | Office | $29.5M | 3.396% | Jul 2031 | 1.45x | 81% | Current |
| Butler Crossing | Butler, PA | Retail | $22.0M | 3.07% | Jul 2031 | 4.08x | 100% | Current |
| One Smithfield Street | Pittsburgh, PA | Office | $21.7M | 3.618% | Dec 2031 | 2.08x | 100% | Current |
| Chippewa Center | Beaver Falls, PA | Retail | $20.8M | 3.80% | Sep 2031 | n/a | n/a | Current |
| Guardian Storage Shadyside | Pittsburgh, PA | Self storage | $15.7M | 6.013% | Jan 2031 | 1.44x | 86% | Current |
| Washington PA Hotel Portfolio | Washington, PA | Hotel | $15.5M | 7.747% | Jun 2031 | 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.