Office · Jacksonville, Florida
8800 Baymeadows
8800 Baymeadows is financed with a $16.5M CMBS loan at 4.978% that reached maturity on August 6, 2026, 2 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $16,519,440
- Original balance (same notes)
- $18,200,000
- Interest rate
- 4.978% fixed
- Originated
- January 29, 2021
- Maturity
- August 6, 2026
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- November 5, 2025
- Master servicer
- Trimont LLC
- Originator
- UBS AG
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred December 11, 2024
- Workout strategy
- Foreclosure
- Modified
- Yes, most recently May 8, 2026
- Defeasance
- None reported
The property
- Address
- 8800 Baymeadows Way West, Jacksonville, FL 32256
- Metro
- Jacksonville, FL
- Rentable area
- 219,457 sq ft
- Built
- 1993
- Largest tenants
- Dept of Environmenta; CEVA Logistics; Pax Technology Inc
- Value at securitization
- $28.4M (Dec 2020)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.75x | 0.97x |
| Occupancy | 76% | 46% |
| Net operating income | $2.0M | $1.1M |
| Debt yield | 6.8% |
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 WELLS FARGO COMMERCIAL MORTGAGE TRUST 2021-C59 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- 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
- Past maturity
- Modified
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 76% when the loan was securitized to 46%.
- Net operating income is 45% below the underwritten figure ($1.1M a year against $2.0M).
- Debt service coverage moved from 1.75x at securitization to 0.97x on the latest statements.
- At 0.97x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $21.8M (February 11, 2026), against $28.4M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $16.5M | Non performing matured balloon | Yes | 0.97x | 46% |
| August 2026 | $16.5M | Non performing matured balloon | Yes | 0.97x | 46% |
| July 2026 | $16.5M | Late payment but less than 30 days delinquent | Yes | 0.97x | 46% |
| June 2026 | $16.5M | Late payment but less than 30 days delinquent | Yes | 0.97x | 46% |
| May 2026 | $16.8M | Non performing matured balloon | Yes | 1.10x | 53% |
| April 2026 | $16.8M | Non performing matured balloon | Yes | 1.10x | 53% |
| March 2026 | $16.8M | Non performing matured balloon | Yes | 1.10x | 53% |
| February 2026 | $16.8M | Non performing matured balloon | Yes | 1.10x | 53% |
| January 2026 | $16.8M | Late payment but less than 30 days delinquent | Yes | 1.10x | 53% |
| December 2025 | $16.9M | Late payment but less than 30 days delinquent | Yes | 1.10x | 53% |
| November 2025 | $16.9M | Current | Yes | 0.92x | 56% |
| October 2025 | $16.9M | Current | Yes | 0.92x | 56% |
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 December 11, 2024, 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 2021-C59 | 14 | $16,519,440 | Sep 2026 | SEC filing, September 29, 2026 |
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.