Office · Chesapeake, Virginia
4012 & 4016 Raintree Road
4012 & 4016 Raintree Road is financed with a $3.0M CMBS loan at 3.62% that reaches maturity on September 5, 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
- $3,000,000
- Original balance (same notes)
- $3,000,000
- Interest rate
- 3.62% fixed
- Originated
- August 22, 2019
- Maturity
- September 5, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 4, 2029
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4012 & 4016 Raintree Road, Chesapeake, VA 23321
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Rentable area
- 43,259 sq ft
- Built
- 1985
- Largest tenants
- RENAISSANCE PEDIATRICS PC; TIDEWATER THERAPY FOR CHILDR; D JONES CRISIS HOME LLC
- Value at securitization
- $4.5M (Jul 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.51x | 3.19x |
| Occupancy | 93% | 90% |
| Net operating income (annualized from 6 months) | $387K | $354K |
| Debt yield | 11.8% |
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-BNK24 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 90%.
- Net operating income is 9% below the underwritten figure ($354K a year against $387K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.51x at securitization to 3.19x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.0M | Current | No | 3.19x | 90% |
| August 2026 | $3.0M | Current | No | 3.19x | 90% |
| July 2026 | $3.0M | Current | No | 3.08x | 100% |
| June 2026 | $3.0M | Current | No | 3.08x | 100% |
| May 2026 | $3.0M | Current | No | 3.33x | 95% |
| April 2026 | $3.0M | Current | No | 3.33x | 95% |
| March 2026 | $3.0M | Current | No | 3.22x | 95% |
| February 2026 | $3.0M | Current | No | 3.22x | 95% |
| January 2026 | $3.0M | Current | No | 3.22x | 95% |
| December 2025 | $3.0M | Current | No | 3.45x | 95% |
| November 2025 | $3.0M | Current | No | 3.45x | 95% |
| October 2025 | $3.0M | Current | No | 3.45x | 95% |
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-BNK24 | 50 | $3,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Battlefield Tech I - Battlefield | Chesapeake, VA | Office | $108.2M | 5.30% | Apr 2029 | n/a | n/a | Current |
| Dominion Tower | Norfolk, VA | Office | $57.2M | 5.29% | Jan 2029 | 1.49x | 65% | With the special servicer |
| Christopher Crossing Apartments | Newport News, VA | Multifamily | $42.0M | 6.61% | Nov 2029 | 1.55x | 92% | Current |
| Town Point Center | Norfolk, VA | Office | $14.5M | 5.35% | Jan 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| London Bridge Industrial | Virginia Beach, VA | Industrial | $14.0M | 6.56% | Aug 2029 | 1.48x | 100% | Current |
| Delta Hotels | Chesapeake, VA | Hotel | $13.8M | 4.65% | Oct 2029 | n/a | n/a | Current |
| Springhill Suites Chesapeake | Chesapeake, VA | Hotel | $10.5M | 4.90% | Jun 2029 | 1.83x | 80% | Current |
| Harbourview North | Suffolk, VA | Retail | $9.5M | 4.98% | Apr 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Virginia Beach-Chesapeake-Norfolk 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.