Office · West Palm Beach, Florida
1515 N Flagler Drive
1515 N Flagler Drive is financed with a $22.2M CMBS loan at 5.115% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,165,000
- Original balance (same notes)
- $22,165,000
- Interest rate
- 5.115% fixed
- Originated
- January 24, 2019
- Maturity
- February 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1515 N Flagler Drive, West Palm Beach, FL 33401
- Metro
- Miami-Fort Lauderdale-West Palm Beach, FL
- Rentable area
- 162,569 sq ft
- Built
- 1998, renovated 2014
- Largest tenants
- Health Care District of Palm Beach County; State of Florida (t0000782); General Services Administration (t0000825)
- Value at securitization
- $34.1M (Dec 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.40x | 3.34x |
| Occupancy | 83% | 95% |
| Net operating income (annualized from 3 months) | $2.8M | $3.9M |
| Debt yield | 17.6% |
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 UBS Commercial Mortgage Trust 2019-C16 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 risen from 83% when the loan was securitized to 95%.
- Net operating income is 41% above the underwritten figure ($3.9M a year against $2.8M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.40x at securitization to 3.34x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $22.2M | Current | No | 3.34x | 95% |
| August 2026 | $22.2M | Current | No | 3.34x | 96% |
| July 2026 | $22.2M | Late payment but less than 30 days delinquent | No | 3.34x | 96% |
| June 2026 | $22.2M | Current | No | n/a | n/a |
| May 2026 | $22.2M | Current | No | n/a | n/a |
| April 2026 | $22.2M | Current | No | 3.11x | 96% |
| March 2026 | $22.2M | Current | No | 3.11x | 96% |
| February 2026 | $22.2M | Current | No | 2.85x | 96% |
| January 2026 | $22.2M | Current | No | 2.85x | 96% |
| December 2025 | $22.2M | Current | No | 2.85x | 96% |
| November 2025 | $22.2M | Current | No | 3.11x | 96% |
| October 2025 | $22.2M | Current | No | 3.07x | 99% |
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C16 | 11 | $22,165,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Miami-Fort Lauderdale-West Palm Beach loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Royal Palm Place | Boca Raton, FL | Mixed use | $110.0M | 3.81% | Nov 2029 | 2.98x | 98% | Current |
| Northbridge Centre | West Palm Beach, FL | Office | $96.0M | 6.905% | Sep 2029 | 1.43x | 75% | Current |
| University Pointe | Davie, FL | Multifamily | $85.8M | 6.70% | Jun 2029 | 1.79x | 90% | Current |
| Royal Palm I & II | Plantation, FL | Office | $68.2M | 6.45% | Nov 2029 | 7.80x | 82% | Current |
| The Avenue | Davie, FL | Multifamily | $60.0M | 4.992% | Jan 2029 | 2.47x | 96% | Current |
| The Brazilian Court Hotel | Palm Beach, FL | Hotel | $54.5M | 7.50% | Dec 2029 | 1.57x | 52% | Current |
| One Town Center | Boca Raton, FL | Office | $51.0M | 7.338% | Jul 2029 | 1.19x | 94% | Current |
| West Palm Gardens | West Palm Beach, FL | Multifamily | $50.0M | 6.45% | Oct 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Miami-Fort Lauderdale-West Palm Beach 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.