Office · Norfolk, Virginia
Dominion Tower
Public CMBS trusts hold $57.2M of the loan on Dominion Tower at 5.29% that reaches maturity on January 6, 2029, in 2 years and 2 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
- $57,159,721
- Original balance (same notes)
- $61,350,000
- Interest rate
- 5.29% fixed
- Originated
- December 20, 2018
- Maturity
- January 6, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- October 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred May 8, 2026
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 999 Waterside Drive, Norfolk, VA 23510
- Metro
- Virginia Beach-Chesapeake-Norfolk, VA-NC
- Rentable area
- 403,276 sq ft
- Built
- 1988, renovated 2018
- Largest tenants
- CACI Inc.; HARBOR GROUP; Union Bank & Trust Co
- Value at securitization
- $87.0M (Nov 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.64x | 1.49x |
| Occupancy | 88% | 65% |
| Net operating income | $6.7M | $6.1M |
| Debt yield | 10.6% |
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 2019-C49 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in every report since June 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 88% when the loan was securitized to 65%.
- Net operating income is 10% below the underwritten figure ($6.1M a year against $6.7M).
- Debt service coverage moved from 1.64x at securitization to 1.49x on the latest statements.
- The filing gives Aug 2026 as the lease end date for the largest tenant (CACI 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 | $57.2M | Current | Yes | 1.49x | 65% |
| August 2026 | $57.2M | Current | Yes | 1.49x | 65% |
| July 2026 | $57.3M | Current | Yes | 1.49x | 65% |
| June 2026 | $57.4M | Current | Yes | 1.49x | 65% |
| May 2026 | $57.5M | Current | No | 1.49x | 65% |
| April 2026 | $57.6M | Current | No | 1.49x | 65% |
| March 2026 | $57.6M | Current | No | 1.47x | 74% |
| February 2026 | $57.8M | Current | No | 1.47x | 74% |
| January 2026 | $57.8M | Current | No | 1.47x | 74% |
| December 2025 | $57.9M | Current | No | 1.36x | 78% |
| November 2025 | $58.0M | Current | No | 1.36x | 78% |
| October 2025 | $58.1M | Current | No | 1.36x | 78% |
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 May 8, 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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C16 | 2 | $42,858,145 | Sep 2026 | SEC filing, September 28, 2026 |
| Wells Fargo Commercial Mortgage Trust 2019-C49 | 13 | $14,301,576 | Sep 2026 | SEC filing, September 29, 2026 |
Other Virginia Beach-Chesapeake-Norfolk loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Battlefield Tech I - Battlefield | Chesapeake, VA | Office | $108.2M | 5.30% | Apr 2029 | n/a | n/a | Current |
| Christopher Crossing Apartments | Newport News, VA | Multifamily | $42.0M | 6.61% | Nov 2029 | 1.55x | 92% | Current |
| Town Point Center | Norfolk, VA | Office | $14.5M | 5.35% | Jan 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| London Bridge Industrial | Virginia Beach, VA | Industrial | $14.0M | 6.56% | Aug 2029 | 1.48x | 100% | Current |
| Delta Hotels | Chesapeake, VA | Hotel | $13.8M | 4.65% | Oct 2029 | n/a | n/a | Current |
| Springhill Suites Chesapeake | Chesapeake, VA | Hotel | $10.5M | 4.90% | Jun 2029 | 1.83x | 80% | Current |
| Harbourview North | Suffolk, VA | Retail | $9.5M | 4.98% | Apr 2029 | n/a | n/a | Current |
| Embassy Suites - Williamsburg | Williamsburg, VA | Hotel | $8.6M | 4.55% | Jun 2029 | 1.82x | 66% | Current |
All loans maturing in 2029 · All Virginia Beach-Chesapeake-Norfolk 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.