Office · Grand Rapids, Michigan
Bridgewater Place
Bridgewater Place is financed with a $37.3M CMBS loan at 3.89% that reached maturity on September 6, 2025, 13 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
- $37,270,000
- Original balance (same notes)
- $37,270,000
- Interest rate
- 3.89% fixed
- Originated
- August 31, 2020
- Maturity
- September 6, 2025
- Payments
- Interest only for the full term
- Prepayment lockout ended
- October 5, 2021
- Prepayment premium ends
- April 5, 2025 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred September 12, 2024
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 333 NW Bridge St. 1110, Grand Rapids, MI 49504
- Metro
- Grand Rapids-Wyoming-Kentwood, MI
- Rentable area
- 353,356 sq ft
- Built
- 1991
- Largest tenants
- Varnum LLP; JD General Agency LLC (Northwester; Configura, Inc
- Value at securitization
- $63.6M (Jul 2020)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 3.22x | n/a |
| Occupancy | 90% | n/a |
| Net operating income | $4.7M | n/a |
Watch flags
Computed from the BENCHMARK 2020-B19 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Past maturity
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
- The most recent valuation in the filing is $38.0M (May 1, 2026), against $63.6M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $37.3M | Non performing matured balloon | Yes | n/a | n/a |
| August 2026 | $37.3M | Non performing matured balloon | Yes | n/a | n/a |
| July 2026 | $37.3M | Non performing matured balloon | Yes | n/a | n/a |
| June 2026 | $37.3M | Non performing matured balloon | Yes | n/a | n/a |
| May 2026 | $37.3M | Performing matured balloon | Yes | n/a | n/a |
| April 2026 | $37.3M | Non performing matured balloon | Yes | 0.29x | 70% |
| March 2026 | $37.3M | Non performing matured balloon | Yes | 0.29x | 70% |
| February 2026 | $37.3M | Non performing matured balloon | Yes | 0.29x | 70% |
| January 2026 | $37.3M | Non performing matured balloon | Yes | -0.47x | 70% |
| December 2025 | $37.3M | Non performing matured balloon | Yes | -0.47x | 70% |
| November 2025 | $37.3M | Non performing matured balloon | Yes | -0.47x | 70% |
| October 2025 | $37.3M | Non performing matured balloon | Yes | 1.71x | 70% |
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 September 12, 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 |
|---|---|---|---|---|
| BENCHMARK 2020-B19 MORTGAGE TRUST | 12 | $37,270,000 | Sep 2026 | SEC filing, September 30, 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.