Mixed use · Norristown, Pennsylvania
2621 Van Buren
2621 Van Buren is financed with a $20.7M CMBS loan at 4.10% that reaches maturity on September 1, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $20,681,311
- Original balance (same notes)
- $23,850,000
- Interest rate
- 4.10% fixed
- Originated
- August 15, 2019
- Maturity
- September 1, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 30, 2029
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2621 Van Buren Avenue, Norristown, PA 19403
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 249,405 sq ft
- Built
- 1969, renovated 2018
- Largest tenants
- Johnathan Engineering Solutions; Fallien Cosmeceuticals LTD; Certa ProPainters LTD
- Value at securitization
- $31.8M (Jun 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.80x | 1.52x |
| Occupancy | 93% | 85% |
| Net operating income (annualized from 3 months) | $2.5M | $2.1M |
| Debt yield | 10.3% |
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 BANK 2019-BNK21 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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
- Occupancy has fallen from 93% when the loan was securitized to 85%.
- Net operating income is 14% below the underwritten figure ($2.1M a year against $2.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.80x at securitization to 1.52x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.7M | Current | No | 1.52x | 85% |
| August 2026 | $20.7M | Current | No | 1.52x | 85% |
| July 2026 | $20.8M | Current | No | 1.52x | 85% |
| June 2026 | $20.8M | Current | No | 1.52x | 85% |
| May 2026 | $20.9M | Current | No | 1.49x | 85% |
| April 2026 | $20.9M | Current | No | 1.49x | 85% |
| March 2026 | $20.9M | Current | No | 1.49x | 85% |
| February 2026 | $21.0M | Current | No | 1.48x | 85% |
| January 2026 | $21.0M | Current | No | 1.48x | 85% |
| December 2025 | $21.1M | Current | No | 1.48x | 85% |
| November 2025 | $21.1M | Current | No | 1.56x | 85% |
| October 2025 | $21.2M | Current | No | 1.56x | 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 |
|---|---|---|---|---|
| BANK 2019-BNK21 | 13 | $20,681,311 | Sep 2026 | SEC filing, September 29, 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.