Mixed use · Ann Arbor, Michigan
205-207 East Washington Street
205-207 East Washington Street is financed with a $2.7M CMBS loan at 4.75% that reaches maturity on July 6, 2029, in 2 years and 8 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
- $2,712,181
- Original balance (same notes)
- $2,900,000
- Interest rate
- 4.75% fixed
- Originated
- June 17, 2019
- Maturity
- July 6, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ended
- August 5, 2020
- Prepayment premium ends
- February 5, 2029 (yield maintenance)
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 205-207 East Washington Street, Ann Arbor, MI 48104
- Metro
- Ann Arbor, MI
- Rentable area
- 13,800 sq ft
- Built
- 1901, renovated 2008
- Largest tenants
- Blue Tractor; Deepgram; XIOMAS TECHNOLOGIES
- Value at securitization
- $5.0M (May 2019)
Performance
| At securitization | Latest (Mar 2025) | |
|---|---|---|
| DSCR (NOI) | 1.64x | 1.07x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 3 months) | $299K | $196K |
| Debt yield | 7.2% |
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 2019-C4 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 34% below the underwritten figure ($196K a year against $299K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.64x at securitization to 1.07x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $2.7M | Late payment but less than 30 days delinquent | No | 1.07x | 100% |
| August 2026 | $2.7M | Late payment but less than 30 days delinquent | No | 1.07x | 100% |
| July 2026 | $2.7M | Late payment but less than 30 days delinquent | No | 1.07x | 100% |
| June 2026 | $2.7M | Current | No | 1.07x | 100% |
| May 2026 | $2.7M | Current | No | 1.07x | 100% |
| April 2026 | $2.7M | Current | No | 1.07x | 100% |
| March 2026 | $2.7M | Late payment but less than 30 days delinquent | No | 1.07x | 100% |
| February 2026 | $2.7M | Current | No | 1.07x | 100% |
| January 2026 | $2.7M | Late payment but less than 30 days delinquent | No | 1.07x | 100% |
| December 2025 | $2.7M | Current | No | 1.07x | 100% |
| November 2025 | $2.7M | Current | No | 1.07x | 100% |
| October 2025 | $2.8M | Current | No | 1.07x | 100% |
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 2019-C4 | 68 | $2,712,181 | Sep 2026 | SEC filing, September 29, 2026 |
Other Ann Arbor loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 777 East Eisenhower | Ann Arbor, MI | Office | $40.4M | 4.08% | Sep 2029 | 1.73x | 94% | Current |
| 445 & 455 East Eisenhower Parkway | Ann Arbor, MI | Retail | $12.9M | 4.70% | Aug 2029 | n/a | n/a | Current |
| 112-120 West Washington and 117 South Ashley Street | Ann Arbor, MI | Mixed use | $5.1M | 4.75% | May 2029 | n/a | n/a | Current |
| Gallatin Manor | Ann Arbor, MI | Multifamily | $3.2M | 5.25% | Apr 2029 | 2.90x | 100% | Current |
| Concourse Office Center | Ann Arbor, MI | Office | $2.5M | 4.62% | Jun 2029 | 0.85x | 78% | 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.