Office · Seattle, Washington
Amazon Seattle (300 Pine)
Public CMBS trusts hold $141.9M of the loan on Amazon Seattle (300 Pine) at 3.005% that reaches its anticipated repayment date on April 6, 2030, in 3 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $141,900,000
- Original balance (same notes)
- $141,900,000
- Interest rate
- 3.005% fixed
- Originated
- April 1, 2021
- Maturity
- May 6, 2033
- Anticipated repayment date
- April 6, 2030 (the rate steps up if the loan is not repaid by then)
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 5, 2023
- Prepayment premium ends
- October 5, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 300 Pine Street, Seattle, WA 98101
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 773,109 sq ft
- Built
- 1929, renovated 2021
- Largest tenants
- Amazon.com Services LLC; Uniqio USA; Vibe Coffee
- Value at securitization
- $670.0M (Mar 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 4.30x | 2.71x |
| Occupancy | 92% | 91% |
| Net operating income (annualized from 3 months) | $30.8M | $32.7M |
| Debt yield | 23.0% |
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.
Watch flags
Computed from the BENCHMARK 2021-B27 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 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
- Net operating income is 6% above the underwritten figure ($32.7M a year against $30.8M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 4.30x at securitization to 2.71x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $141.9M | Current | No | 2.71x | 91% |
| August 2026 | $141.9M | Current | No | 2.71x | 91% |
| July 2026 | $141.9M | Current | No | 2.71x | 91% |
| June 2026 | $141.9M | Current | No | n/a | n/a |
| May 2026 | $141.9M | Current | No | n/a | n/a |
| April 2026 | $141.9M | Current | No | 2.41x | 91% |
| March 2026 | $141.9M | Current | No | 2.52x | 91% |
| February 2026 | $141.9M | Current | No | 2.52x | 91% |
| January 2026 | $141.9M | Current | No | 2.52x | 91% |
| December 2025 | $141.9M | Current | No | 2.52x | 91% |
| November 2025 | $141.9M | Current | No | 2.53x | 91% |
| October 2025 | $141.9M | Current | No | 2.53x | 91% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2021-B25 Mortgage Trust | 3 | $90,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BENCHMARK 2021-B27 MORTGAGE TRUST | 5 | $51,900,000 | Sep 2026 | SEC filing, September 30, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Southcenter Mall | Seattle, WA | Retail | $218.0M | 2.88% | Jan 2030 | 6.91x | 91% | Current |
| F5 Tower | Seattle, WA | Office | $185.0M | 3.699% | Jan 2030 | 3.71x | 100% | Current |
| Redmond Town Center | Redmond, WA | Retail | $121.5M | 6.70% | Mar 2030 | 1.46x | 87% | Current |
| 9th & Thomas | Seattle, WA | Office | $96.0M | 3.60% | Oct 2030 | 2.27x | 100% | Current |
| Amazon Seattle | Seattle, WA | Office | $93.0M | 3.005% | Apr 2030 | 2.41x | 91% | Current |
| Sterling Plaza | Bellevue, WA | Office | $53.6M | 6.492% | Nov 2030 | 1.80x | 92% | Current |
| FedEx Redmond | Redmond, WA | Industrial | $45.1M | 3.87% | Jan 2030 | 2.23x | 100% | Current |
| Wallypark Seatac | SeaTac, WA | Other | $30.3M | 8.41% | May 2030 | 2.27x | 83% | Current |
All loans maturing in 2030 · All Seattle-Tacoma-Bellevue 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.