Industrial portfolio, 17 properties · North East, Maryland
4000 Principio Parkway
Public CMBS trusts hold $137.9M of the loan on this portfolio at 3.865% that reaches maturity on March 6, 2032, in 5 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $137,885,462
- Original balance (same notes)
- $103,520,377
- Interest rate
- 3.865% fixed
- Originated
- February 25, 2022
- Maturity
- March 6, 2032
- Payments
- Interest only for the full term
- Prepayment premium ends
- September 5, 2031 (yield maintenance)
- Master servicer
- Berkadia
- Originator
- MSBNA, BMO
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 4000 Principio Parkway East, North East, MD 21901
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Value at securitization
- $1.1B
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income (annualized from 3 months) | $45.1M | $49.1M |
| Debt yield | 35.6% |
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 2022-L8 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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
- Net operating income is 9% above the underwritten figure ($49.1M a year against $45.1M; the latest statement covers 3 months, annualized).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 4000 Principio Parkway | North East, MD | Warehouse | 100% | 2.81x |
| Joe B Jackson Parkway | Murfreesboro, TN | Warehouse | n/a | n/a |
| Amazon Fulfillment Center - Chesterfield | Chester, VA | Warehouse | n/a | n/a |
| UPS Distribution Building | Londonderry, NH | Warehouse | n/a | n/a |
| Amazon Fulfillment Center - Spartanburg | Spartanburg, SC | Warehouse | n/a | n/a |
| BJ's Wholesale Club Distribution Center | Burlington, NJ | Warehouse | n/a | n/a |
| 5300 Centerpoint Parkway | Groveport, OH | Warehouse | n/a | n/a |
| Midwest Commerce Center | Gardner, KS | Warehouse | n/a | n/a |
| 725 Darlington Avenue | Mahwah, NJ | Warehouse | n/a | n/a |
| Red Rock Business park | Maple Grove, MN | Warehouse | n/a | n/a |
| 7303 Rickenbacker Parkway West | Columbus, OH | Warehouse | n/a | n/a |
| 4836 Hickory Hill Road | Memphis, TN | Warehouse | n/a | n/a |
| FedEx World Service Center | Las Vegas, NV | Warehouse | n/a | n/a |
| Amcor Rigid Plastics | Franklin, IN | Industrial | n/a | n/a |
| Blue Triton Brands | Greenwood, IN | Industrial | n/a | n/a |
| Mt. Comfort Commercial Park Building 111 | Greenfield, IN | Warehouse | n/a | n/a |
| Ryerson-Eldridge IA | Eldridge, IA | Industrial | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $137.9M | Current | No | 2.81x | 100% |
| August 2026 | $137.9M | Current | No | 2.81x | 100% |
| July 2026 | $137.9M | Current | No | 2.81x | 100% |
| June 2026 | $137.9M | Current | No | 2.56x | 100% |
| May 2026 | $137.9M | Current | No | 2.56x | 100% |
| April 2026 | $137.9M | Current | No | 2.56x | 100% |
| March 2026 | $137.9M | Current | No | 2.56x | 100% |
| February 2026 | $137.9M | Current | No | 2.56x | 100% |
| January 2026 | $137.9M | Current | No | 2.56x | 100% |
| December 2025 | $137.9M | Current | No | 2.56x | 100% |
| November 2025 | $137.9M | Current | No | 2.73x | 100% |
| October 2025 | $137.9M | Current | No | 2.73x | 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
The loan is split into 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2022-C16 | 8 | $39,999,999 | Sep 2026 | SEC filing, September 29, 2026 |
| BENCHMARK 2022-B35 MORTGAGE TRUST | 3A | $36,828,194 | Sep 2026 | SEC filing, September 28, 2026 |
| BENCHMARK 2022-B35 MORTGAGE TRUST | 3B | $36,828,194 | Sep 2026 | SEC filing, September 28, 2026 |
| Morgan Stanley Capital I Trust 2022-L8 | 11 | $24,229,075 | Sep 2026 | SEC filing, October 2, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 350 Anchor Mill Road | New Castle, DE | Industrial | $138.0M | 3.649% | Feb 2032 | n/a | n/a | Current |
| 500 Delaware Avenue | Wilmington, DE | Office | $65.0M | 4.84% | May 2032 | 1.94x | 94% | Current |
| Philadelphia Logistics Center | Philadelphia, PA | Industrial | $39.5M | 3.34% | Jan 2032 | 0.74x | 7% | Current |
| Center Pointe Plaza I | Newark, DE | Retail | $33.3M | 6.18% | Sep 2032 | n/a | n/a | Current |
| 980 Jolly Road | Blue Bell, PA | Office | $24.8M | 3.632% | Feb 2032 | 2.94x | 88% | Current |
| 45 Liberty Boulevard | Malvern, PA | Office | $24.5M | 3.57% | Jan 2032 | 3.29x | 100% | With the special servicer and 90+ days delinquent |
| 500 Delaware | Wilmington, DE | Office | $20.0M | 4.84% | May 2032 | 1.88x | 94% | Current |
| Rising Sun Towne Centre | Rising Sun, MD | Retail | $17.8M | 6.04% | Oct 2032 | 1.74x | 98% | 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.