Office · Conshohocken, Pennsylvania
300 Four Falls
300 Four Falls is financed with a $57.6M CMBS loan at 6.846% that reaches maturity on January 6, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $57,633,218
- Original balance (same notes)
- $58,000,000
- Interest rate
- 6.846% fixed
- Originated
- January 7, 2026
- Maturity
- January 6, 2031
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- July 5, 2030
- Master servicer
- Midland
- Originator
- Barclays Capital Real Estate Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 300 Conshohocken State Road, Conshohocken, PA 19428
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 298,564 sq ft
- Built
- 2003, renovated 2024
- Largest tenants
- Tandigm Health, LLC; The John Templeton Foundation; BTG International Inc
- Value at securitization
- $88.3M (Nov 2025)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.85x | 0.96x |
| Occupancy | 92% | 89% |
| Net operating income (annualized from 3 months) | $8.4M | $4.4M |
| Debt yield | 7.7% |
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 2026-5C40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 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
- Net operating income is 47% below the underwritten figure ($4.4M a year against $8.4M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.85x at securitization to 0.96x on the latest statements.
- At 0.96x, the property's reported NOI does not cover its debt service.
The last 8 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $57.6M | Current | No | 0.96x | 89% |
| August 2026 | $57.7M | Current | No | 0.96x | 89% |
| July 2026 | $57.7M | Current | No | 0.96x | 89% |
| June 2026 | $57.8M | Current | No | n/a | n/a |
| May 2026 | $57.8M | Current | No | n/a | n/a |
| April 2026 | $57.9M | Current | No | n/a | n/a |
| March 2026 | $57.9M | Current | No | n/a | n/a |
| February 2026 | $58.0M | Current | No | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2026-5C40 | 3 | $57,633,218 | Sep 2026 | SEC filing, September 29, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Atlantic | Philadelphia, PA | Multifamily | $125.0M | 3.456% | Feb 2031 | 1.26x | 95% | Current |
| Deptford Mall | Deptford, NJ | Retail | $115.0M | 6.95% | May 2031 | n/a | n/a | Current |
| 400 Arcola Road | Collegeville, PA | Mixed use | $110.0M | 6.781% | Mar 2031 | n/a | n/a | Current |
| Velocity Industrial Portfolio | Lansdale, PA | Industrial | $75.0M | 3.23% | Jul 2031 | 3.29x | 90% | Current |
| Two Penn Center | Philadelphia, PA | Office | $67.9M | 3.268% | Apr 2031 | 2.07x | 74% | Current |
| Wessex House | Wayne, PA | Multifamily | $57.5M | 5.72% | Mar 2031 | n/a | n/a | Current |
| The Court at Oxford Valley | Fairless Hills, PA | Retail | $52.6M | 3.20% | Jul 2031 | 2.23x | 92% | Current |
| Crosby Hill Apartments | Wilmington, DE | Multifamily | $45.0M | 5.49% | Jan 2031 | n/a | n/a | Current |
All loans maturing in 2031 · 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.