Office · San Francisco, California
Central Tower
Public CMBS trusts hold $63.7M of the loan on Central Tower at 4.06% that reaches maturity on May 6, 2029, in 2 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $63,700,000
- Original balance (same notes)
- $63,700,000
- Interest rate
- 4.06% fixed
- Originated
- April 26, 2019
- Maturity
- May 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred September 12, 2025
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 30, 32, 34 Third Street; 701, 703, 705 Market Street, San Francisco, CA 94103
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 164,848 sq ft
- Built
- 1898, renovated 2018
- Largest tenants
- Bedrock Robotics Inc.; Glow Holding INC; Pivot Interiors Inc
- Value at securitization
- $186.3M (Feb 2019)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.49x | 1.11x |
| Occupancy | 99% | 34% |
| Net operating income | $10.1M | $4.5M |
| Debt yield | 7.0% |
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 BANK 2019-BNK18 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 down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Largest tenant's lease ends within 12 months
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 99% when the loan was securitized to 34%.
- Net operating income is 55% below the underwritten figure ($4.5M a year against $10.1M).
- Debt service coverage moved from 2.49x at securitization to 1.11x on the latest statements.
- The most recent valuation in the filing is $84.7M (August 12, 2026), against $186.3M at securitization.
- The filing gives Jul 2027 as the lease end date for the largest tenant (Bedrock Robotics Inc.), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $63.7M | 90+ days delinquent | Yes | 1.11x | 34% |
| August 2026 | $63.7M | 90+ days delinquent | Yes | 1.11x | 34% |
| July 2026 | $63.7M | 60-89 days delinquent | Yes | 1.11x | 34% |
| June 2026 | $63.7M | 30-59 days delinquent | Yes | 1.11x | 34% |
| May 2026 | $63.7M | Late payment but less than 30 days delinquent | Yes | 0.63x | 47% |
| April 2026 | $63.7M | 30-59 days delinquent | Yes | 0.63x | 47% |
| March 2026 | $63.7M | 30-59 days delinquent | Yes | 0.63x | 47% |
| February 2026 | $63.7M | 30-59 days delinquent | Yes | 0.63x | 47% |
| January 2026 | $63.7M | 30-59 days delinquent | Yes | 1.63x | 82% |
| December 2025 | $63.7M | 30-59 days delinquent | Yes | 1.63x | 82% |
| November 2025 | $63.7M | 30-59 days delinquent | Yes | 1.63x | 82% |
| October 2025 | $63.7M | Late payment but less than 30 days delinquent | Yes | 1.63x | 82% |
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, 2025, 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 |
|---|---|---|---|---|
| BANK 2019-BNK18 | 6 | $63,700,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 560 Mission Street | San Francisco, CA | Office | $300.0M | 2.589% | Dec 2029 | 2.37x | 97% | Current |
| 101 California Street | San Francisco, CA | Office | $200.0M | 3.85% | Mar 2029 | 1.60x | 91% | Current |
| 350 Bush Street | San Francisco, CA | Office | $185.0M | 3.912% | May 2029 | 4.63x | 100% | Current |
| 188 Spear Street | San Francisco, CA | Office | $125.0M | 3.57% | Jun 2029 | 3.57x | 97% | With the special servicer |
| Nema San Francisco | San Francisco, CA | Multifamily | $75.0M | 4.436% | Feb 2029 | 1.34x | 97% | Current |
| One Stockton | San Francisco, CA | Retail | $66.0M | 4.04% | Dec 2029 | -0.37x | 100% | Current |
| Pleasanton Corporate Commons | Pleasanton, CA | Mixed use | $65.8M | 7.78% | May 2029 | 1.88x | 100% | Current |
| 350 Rhode Island South | San Francisco, CA | Office | $62.5M | 4.143% | Mar 2029 | 0.56x | 70% | Current |
All loans maturing in 2029 · All San Francisco-Oakland-Fremont 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.