Office · Towson, Maryland
Dulaney Center
Dulaney Center is financed with a $43.1M CMBS loan at 4.773% that reaches maturity on May 6, 2028, in 18 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 30-59 days delinquent.
The loan
- Balance in tracked trusts
- $43,053,739
- Original balance (same notes)
- $47,000,000
- Interest rate
- 4.773% fixed
- Originated
- April 13, 2018
- Maturity
- May 6, 2028
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- January 5, 2028
- Master servicer
- Trimont LLC
- Originator
- Barclays Bank PLC
Status
- Payment status
- 30-59 days delinquent (code 1)
- Special servicing
- Transferred October 20, 2025
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 901 Dulaney Valley Road & 849 West Fairmount Avenue, Towson, MD 21204
- Metro
- Baltimore-Columbia-Towson, MD
- Rentable area
- 316,348 sq ft
- Built
- 1983, renovated 2016
- Largest tenants
- Pessin Katz Law P.A; sheppard Pratt; US Fertility LLC
- Value at securitization
- $67.3M (Mar 2018)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.78x | 1.27x |
| Occupancy | 90% | 66% |
| Net operating income | $5.3M | $3.7M |
| Debt yield | 8.7% |
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 2018-C44 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
On the cmbs.news watch list in every report since November 2025.
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 90% when the loan was securitized to 66%.
- Net operating income is 29% below the underwritten figure ($3.7M a year against $5.3M).
- Debt service coverage moved from 1.78x at securitization to 1.27x on the latest statements.
- The most recent valuation in the filing is $29.4M (July 15, 2026), against $67.3M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $43.1M | 30-59 days delinquent | Yes | 1.27x | 66% |
| August 2026 | $43.1M | Late payment but less than 30 days delinquent | Yes | 1.27x | 66% |
| July 2026 | $43.1M | Late payment but less than 30 days delinquent | Yes | 1.27x | 66% |
| June 2026 | $43.1M | Current | Yes | 1.27x | 66% |
| May 2026 | $43.2M | Current | Yes | 1.21x | 66% |
| April 2026 | $43.3M | Current | Yes | 1.21x | 66% |
| March 2026 | $43.3M | Current | Yes | 1.21x | 66% |
| February 2026 | $43.4M | Current | Yes | 1.21x | 66% |
| January 2026 | $43.5M | Current | Yes | 1.03x | 66% |
| December 2025 | $43.6M | Late payment but less than 30 days delinquent | Yes | 1.03x | 66% |
| November 2025 | $43.7M | Late payment but less than 30 days delinquent | Yes | 1.03x | 66% |
| October 2025 | $43.7M | Current | No | 1.03x | 66% |
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 October 31, 2023, returned to the master servicer October 9, 2024.
- Transferred to the special servicer October 20, 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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C44 | 4 | $43,053,739 | Sep 2026 | SEC filing, September 29, 2026 |
Other Baltimore-Columbia-Towson loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Westin Annapolis | Annapolis, MD | Hotel | $44.9M | 7.255% | Jul 2028 | 2.13x | 75% | Current |
| 650 South Exeter Street | Baltimore, MD | Mixed use | $25.0M | 4.84% | Jun 2028 | 0.14x | 55% | Current |
| 11311 Mccormick Road | Hunt Valley, MD | Office | $21.9M | 4.361% | Jan 2028 | 1.85x | 70% | Current |
| Harford Village Mhc | Edgewood, MD | Manufactured housing | $21.7M | 4.565% | Jan 2028 | 2.04x | 99% | Current |
| Waysons Mhc | Lothian, MD | Manufactured housing | $20.1M | 4.875% | Apr 2028 | 1.56x | 100% | Current |
| 11126 McCormick Rd | Hunt Valley, MD | Industrial | $18.1M | 6.473% | Nov 2028 | n/a | n/a | Current |
| One Market Center | Baltimore, MD | Office | $15.8M | 4.885% | Mar 2028 | n/a | n/a | Current |
| DoubleTree Columbia | Columbia, MD | Hotel | $15.1M | 8.18% | Jul 2028 | n/a | n/a | Current |
All loans maturing in 2028 · All Baltimore-Columbia-Towson 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.