Office · Linthicum Heights, Maryland
Airport Square
800, 849, 900, & 930 International Drive, Linthicum Heights, MD · Google Maps
Public CMBS trusts hold $26.1M of the loan on Airport Square at 4.20% that reaches maturity on November 6, 2029, in 3 years. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $26,128,837
- Original balance (same notes)
- $30,000,000
- Interest rate
- 4.20% fixed
- Originated
- November 4, 2019
- Maturity
- November 6, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- September 5, 2029
- Master servicer
- Trimont LLC
- Originator
- CCRE Lending
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 800, 849, 900, & 930 International Drive, Linthicum Heights, MD 21090
- Metro
- Baltimore-Columbia-Towson, MD
- Rentable area
- 232,936 sq ft
- Built
- 1986, renovated 2018
- Largest tenants
- Northrop Grumman Systems Corporation; Northrop Grumman Systems Corporation; Advanced Mission partners LLC
- Value at securitization
- $44.4M (Aug 2019)
Performance
| Measure | At securitization | Latest (Jun 2026) |
|---|---|---|
| DSCR (NOI) | 1.80x | 2.50x |
| Occupancy | 86% | 98% |
| Net operating income (annualized from 6 months) | $3.2M | $4.4M |
| Debt yield | 17.0% |
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.
Comparable loans: office properties in Baltimore-Columbia-Towson, MD, with NOI, occupancy and value.
Watch flags
Computed from the UBS Commercial Mortgage Trust 2019-C18 filing for the reporting period ending October 13, 2026, filed with the SEC November 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
- Occupancy has risen from 86% when the loan was securitized to 98%.
- Net operating income is 40% above the underwritten figure ($4.4M a year against $3.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.80x at securitization to 2.50x on the latest statements.
- The filing gives May 2028 as the lease end date for the largest tenant (Northrop Grumman Systems Corporation), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Guarantor and sponsor
- Shown with Pro
- Parties and contacts named by the trust
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Dec 2019.
Source: SEC Form 10-D, Exhibit 99.1 distribution statement, filed Oct 2026.
Refinance test on today's income
The latest annual NOI in the filing is $4.4M, a debt yield of 17.0% on $26.1M. Lenders often size a new loan so NOI is at least 9% to 10% of the loan amount.
| Debt yield a lender requires | Largest loan | Against today's balance |
|---|---|---|
| 9% | $49.2M | $23.1M of room |
| 10% | $44.3M | $18.2M of room |
Arithmetic on the filed NOI only: no rates, reserves, cap rates or lender terms. NOI can be a year old; see the statement dates above.
Operating statement
| Annual | At securitization | Latest, Jun 2026 | Per sq ft |
|---|---|---|---|
| Revenue | $4.4M | $11.6M | $50.24/sf |
| Operating expenses | $1.3M | $2.7M | $11.82/sf |
| Net operating income | $3.2M | $4.4M | $19.21/sf |
| Net cash flow | $3.0M | $8.5M | $36.79/sf |
| Expense ratio | 28.5% | 23.5% |
From the servicer's Schedule AL report; the latest statement covers 6 months and is annualized; 230,737 sq ft; renovated 2018.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Northrop Grumman | 113,168 | 49% | May 2028 |
| Advanced Mission Partners LLC - SSAI | 32,152 | 14% | Sep 2029 |
| USA ACOE | 23,266 | 10% | Dec 2025 |
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 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $26.1M | Current | No | 2.50x | 98% |
| September 2026 | $26.2M | Current | No | 2.72x | 98% |
| August 2026 | $26.2M | Current | No | 2.72x | 98% |
| July 2026 | $26.3M | Current | No | 2.72x | 98% |
| June 2026 | $26.3M | Current | No | 2.33x | 98% |
| May 2026 | $26.4M | Current | No | 2.49x | 98% |
| April 2026 | $26.4M | Current | No | 2.49x | 98% |
| March 2026 | $26.5M | Current | No | 2.49x | 98% |
| February 2026 | $26.6M | Current | No | 2.49x | 98% |
| January 2026 | $26.6M | Current | No | 2.49x | 98% |
| December 2025 | $26.7M | Current | No | 2.47x | 98% |
| November 2025 | $26.7M | Current | No | 2.47x | 98% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements.
Full history back to December 2019. See it with Pro.
Where the loan sits
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| CF 2019-CF3 Mortgage Trust | 12 | $21,774,031 | Oct 2026 | SEC filing, October 29, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 46 | $4,354,806 | Oct 2026 | SEC filing, November 2, 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 | 1.34x | 95% | Current |
| Hilton Baltimore BWI Airport | Linthicum Heights, MD | Hotel | $34.9M | 4.799% | Apr 2029 | 1.57x | 82% | Current |
| Patuxent Crossing | 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 |
| 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 | 1.61x | 54% | Current |
| Schnader Enterprises Portfolio | Baltimore, MD | Multifamily | $6.0M | 4.52% | Jun 2029 | 2.22x | 91% | 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 October 13, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.