Office · King Of Prussia, Pennsylvania
500 N Gulph
500 North Gulph Road, King Of Prussia, PA · Google Maps
500 N Gulph is financed with a $24.9M CMBS loan at 6.49% that reaches maturity on July 1, 2036, in 9 years and 8 months. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $24,900,000
- Original balance (same notes)
- $24,900,000
- Interest rate
- 6.49% fixed
- Originated
- July 1, 2026
- Maturity
- July 1, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 31, 2035
- 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
- 500 North Gulph Road, King Of Prussia, PA 19406
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 100,820 sq ft
- Built
- 1979, renovated 2019
- Largest tenants
- UGI CORPORATION
- Value at securitization
- $42.1M (May 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 2.25x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $3.7M | n/a |
Comparable loans: office properties in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, with NOI, occupancy and value.
Watch flags
Computed from the Morgan Stanley Bank of America Merrill Lynch Trust 2026-C36 filing for the reporting period ending October 13, 2026, filed with the SEC October 28, 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.
Who is behind this loan
- Non-recourse carveout guarantor
- Shown with Pro
- Sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Aug 2026.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $4.6M | n/a | |
| Operating expenses | $916K | n/a | |
| Net operating income | $3.7M | n/a | |
| Net cash flow | $3.5M | n/a | |
| Expense ratio | 19.9% | n/a |
From the servicer's Schedule AL report; 100,820 sq ft; renovated 2019.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| UGI CORPORATION | 100,820 | 100% | Apr 2038 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
The last 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $24.9M | Current | No | n/a | n/a |
| September 2026 | $24.9M | Current | No | n/a | n/a |
| August 2026 | $24.9M | Current | No | 2.03x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Bank of America Merrill Lynch Trust 2026-C36 | 13 | $24,900,000 | Oct 2026 | SEC filing, October 28, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 200 300 400 600 Willlowbrook and 2 other properties | West Chester, PA | Mixed use | $19.3M | 6.43% | Aug 2036 | n/a | n/a | Not reported |
| CooperTowne Center | Somerdale, NJ | Retail | $13.0M | 6.63% | Jul 2036 | n/a | n/a | Not reported |
| Town Square Plaza, Gloucester Township | Gloucester Township, NJ | Retail | $12.0M | 7.047% | May 2036 | n/a | n/a | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.