Office · Hanover, Maryland
7240 Parkway Drive
7240 Parkway Drive is financed with a $4.4M CMBS loan at 5.10% that reaches maturity on May 6, 2029, in 2 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $4,406,425
- Original balance (same notes)
- $4,800,000
- Interest rate
- 5.10% fixed
- Originated
- April 9, 2019
- Maturity
- May 6, 2029
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- January 5, 2029
- Master servicer
- Trimont LLC
- Originator
- BSPRT CMBS Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred October 16, 2025
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 7240 Parkway Drive, Hanover, MD 21076
- Metro
- Baltimore-Columbia-Towson, MD
- Rentable area
- 74,156 sq ft
- Built
- 1985
- Largest tenants
- Law Offices of Eccleston & Wolf; Sickle Cell Disease Association of America Inc.; Audsoft Inc.
- Value at securitization
- $8.6M (Feb 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.12x | 0.06x |
| Occupancy | 90% | 37% |
| Net operating income (annualized from 3 months) | $662K | $19K |
| Debt yield | 0.4% |
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 Wells Fargo Commercial Mortgage Trust 2019-C50 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Largest tenant's lease ends within 12 months
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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
- Occupancy has fallen from 90% when the loan was securitized to 37%.
- Net operating income is 97% below the underwritten figure ($19K a year against $662K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.12x at securitization to 0.06x on the latest statements.
- At 0.06x, the property's reported NOI does not cover its debt service.
- The filing gives Feb 2027 as the lease end date for the largest tenant (Law Offices of Eccleston & Wolf), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.4M | Current | Yes | 0.06x | 37% |
| August 2026 | $4.4M | Current | Yes | 0.06x | 37% |
| July 2026 | $4.4M | Current | Yes | 0.62x | 43% |
| June 2026 | $4.4M | Current | Yes | 0.62x | 43% |
| May 2026 | $4.4M | Late payment but less than 30 days delinquent | Yes | 0.62x | 43% |
| April 2026 | $4.4M | Current | Yes | 0.62x | 43% |
| March 2026 | $4.4M | Current | Yes | 0.62x | 43% |
| February 2026 | $4.5M | Current | Yes | 0.62x | 43% |
| January 2026 | $4.5M | Current | Yes | 0.73x | 43% |
| December 2025 | $4.5M | Current | Yes | 0.73x | 43% |
| November 2025 | $4.5M | Current | Yes | 0.73x | 43% |
| October 2025 | $4.5M | Current | No | 0.73x | 43% |
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.
Special-servicing history
- Transferred to the special servicer October 16, 2025, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C50 | 54 | $4,406,425 | Sep 2026 | SEC filing, September 29, 2026 |
Other Baltimore-Columbia-Towson loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Fieldside Grande | Aberdeen, MD | Multifamily | $52.3M | 6.06% | Jul 2029 | n/a | n/a | Current |
| Hilton Baltimore BWI Airport | Linthicum Heights, MD | Hotel | $35.0M | 4.799% | Apr 2029 | 1.57x | 82% | Current |
| Patuxent Crossing, Columbia | Columbia, MD | Office | $33.2M | 4.60% | Apr 2029 | 1.08x | 67% | Current |
| McGaw Commerce Center | Columbia, MD | Industrial | $32.5M | 6.823% | Apr 2029 | 1.15x | 93% | Current |
| Dundalk Plaza | Baltimore, MD | Retail | $27.3M | 7.20% | Aug 2029 | 1.53x | 99% | Current |
| Airport Square | Linthicum, MD | Industrial | $26.2M | 4.20% | Nov 2029 | 2.72x | n/a | Current |
| Knightsbridge and Sheffield House Apartments | Baltimore, MD | Multifamily | $9.1M | 7.05% | Jan 2029 | 1.36x | 90% | Current |
| Hyatt Place Baltimore Owings Mills | Owings Mills, MD | Hotel | $6.3M | 8.23% | Jan 2029 | 1.76x | 57% | Current |
All loans maturing in 2029 · All Baltimore-Columbia-Towson 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.