Mixed use · Portland, Oregon
Cascade Building
Cascade Building is financed with a $10.0M CMBS loan at 3.645% that reaches maturity on October 6, 2027, in 11 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
- $10,000,000
- Original balance (same notes)
- $10,000,000
- Interest rate
- 3.645% fixed
- Originated
- September 18, 2017
- Maturity
- October 6, 2027
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2027
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred August 28, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 520 Sw 6th Avenue, Portland, OR 97204
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Rentable area
- 94,859 sq ft
- Built
- 1926, renovated 2014
- Largest tenants
- Radar LLC; Woodblock Architecture Inc.; Portland Immigration Law LLC
- Value at securitization
- $25.5M (Aug 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.26x | 0.42x |
| Occupancy | 79% | 42% |
| Net operating income (annualized from 6 months) | $1.2M | $157K |
| Debt yield | 1.6% |
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 2017-C41 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
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 79% when the loan was securitized to 42%.
- Net operating income is 87% below the underwritten figure ($157K a year against $1.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.26x at securitization to 0.42x on the latest statements.
- At 0.42x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.0M | Current | Yes | 0.42x | 42% |
| August 2026 | $10.0M | Current | No | 0.39x | 41% |
| July 2026 | $10.0M | Current | No | 0.39x | 41% |
| June 2026 | $10.0M | Current | No | 0.39x | 41% |
| May 2026 | $10.0M | Current | No | 0.76x | 43% |
| April 2026 | $10.0M | Current | No | 0.76x | 43% |
| March 2026 | $10.0M | Current | No | 0.46x | 42% |
| February 2026 | $10.0M | Current | No | 0.46x | 42% |
| January 2026 | $10.0M | Current | No | 0.46x | 42% |
| December 2025 | $10.0M | Current | No | 0.46x | 42% |
| November 2025 | $10.0M | Current | No | 0.38x | 39% |
| October 2025 | $10.0M | Current | No | 0.38x | 39% |
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 August 28, 2026, 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 2017-C41 | 32 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 2020 Southwest 4th Avenue | Portland, OR | Office | $44.3M | 3.961% | Dec 2027 | 2.24x | 69% | Current |
| Hotel Eastlund | Portland, OR | Hotel | $36.7M | 4.98% | Mar 2027 | 0.75x | 65% | With the special servicer and 90+ days delinquent |
| Oregon City Shopping Center | Oregon City, OR | Retail | $22.5M | 4.30% | Jun 2027 | 2.00x | 80% | Current |
| Dorian Apartments | Portland, OR | Multifamily | $10.2M | 4.783% | Nov 2027 | 0.61x | 90% | Current |
| Orchards Market Center | Vancouver, WA | Retail | $4.3M | 4.53% | May 2027 | 2.39x | 91% | Current |
| Ramada Portland East | Portland, OR | Hotel | $3.4M | 6.13% | Nov 2027 | n/a | n/a | Current |
All loans maturing in 2027 · All Portland-Vancouver-Hillsboro 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.