Office · Shelton, Connecticut
Four Research Drive
Four Research Drive is financed with a $16.0M CMBS loan at 4.20% that reaches maturity on January 6, 2030, in 3 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
- $16,024,501
- Original balance (same notes)
- $18,250,000
- Interest rate
- 4.20% fixed
- Originated
- December 20, 2019
- Maturity
- January 6, 2030
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- October 5, 2029
- Master servicer
- Midland
- Originator
- AREF
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred July 21, 2025
- Workout strategy
- Other
- Defeasance
- None reported
The property
- Address
- 4 Research Drive 7 Progress Drive, Shelton, CT 06484
- Rentable area
- 161,159 sq ft
- Built
- 1999, renovated 2015
- Largest tenants
- New Insight dba Dynata; United Healthcare Services; RGN-Shelton fka Regus
- Value at securitization
- $25.4M (Nov 2019)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.92x | n/a |
| Occupancy | 92% | n/a |
| Net operating income | $2.1M | n/a |
Watch flags
Computed from the Morgan Stanley Capital I Trust 2020-L4 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
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 $6.5M (December 12, 2025), against $25.4M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $16.0M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| August 2026 | $16.0M | Current | Yes | n/a | n/a |
| July 2026 | $16.3M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $16.3M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $16.3M | 90+ days delinquent | Yes | n/a | n/a |
| April 2026 | $16.3M | 90+ days delinquent | Yes | 1.48x | 46% |
| March 2026 | $16.3M | 90+ days delinquent | Yes | 1.48x | 46% |
| February 2026 | $16.3M | 90+ days delinquent | Yes | 1.48x | 46% |
| January 2026 | $16.3M | 60-89 days delinquent | Yes | 1.48x | 46% |
| December 2025 | $16.3M | 30-59 days delinquent | Yes | 1.48x | 46% |
| November 2025 | $16.3M | Late payment but less than 30 days delinquent | Yes | 1.48x | 46% |
| October 2025 | $16.3M | Current | Yes | 1.48x | 46% |
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 July 21, 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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2020-L4 | 16 | $16,024,501 | Sep 2026 | SEC filing, October 2, 2026 |
Other Connecticut loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Link | Stamford, CT | Office | $115.0M | 7.379% | Mar 2030 | 2.16x | 92% | Current |
| Project Wing Industrial | Windsor, CT | Industrial | $70.0M | 6.552% | Oct 2030 | n/a | n/a | Current |
| Up House Apartments | Farmington, CT | Multifamily | $42.5M | 5.92% | Apr 2030 | 1.31x | 89% | Late, less than 30 days |
| Naugatuck Valley Shopping Center | Waterbury, CT | Retail | $26.1M | 5.15% | Apr 2030 | 0.95x | 57% | Current |
| New Haven Multifamily Portfolio | CT | Multifamily | $16.6M | 4.45% | Aug 2030 | 1.32x | 88% | With the special servicer |
| 50 Danbury (Unit 50 Wilton Corporate park ) | Wilton, CT | Office | $16.5M | 6.445% | Nov 2030 | 2.41x | 84% | Current |
| Milford Square | Milford, CT | Retail | $16.0M | 6.70% | Oct 2030 | n/a | n/a | Current |
| Cedar Village at Minerva Square | Derby, CT | Multifamily | $15.0M | 6.40% | Jul 2030 | n/a | n/a | Current |
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.