Office · Charlotte, North Carolina
Gateway Center
Gateway Center is financed with a $28.4M CMBS loan at 4.95% that reaches maturity on April 1, 2029, in 2 years and 5 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
- $28,350,000
- Original balance (same notes)
- $28,350,000
- Interest rate
- 4.95% fixed
- Originated
- March 19, 2019
- Maturity
- April 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 31, 2028
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred June 6, 2024
- Workout strategy
- TBD
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- Partly defeased
The property
- Address
- 901 and 1100 West Trade Street 107, 113, 119, 123, 155 N Sycamore St, Charlotte, NC 28202
- Metro
- Charlotte-Concord-Gastonia, NC-SC
- Rentable area
- 310,745 sq ft
- Units, rooms or beds
- 7
- Built
- 1987
- Largest tenants
- Johnson and Wales University; AT&T/Cingular Wireless; Midday Express Sundries
- Value at securitization
- $40.7M (Feb 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.86x | -0.54x |
| Occupancy | 91% | 9% |
| Net operating income (annualized from 6 months) | $2.6M | $-1.5M |
| Debt yield | -5.5% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the JPMCC Commercial Mortgage Securities Trust 2019-COR5 filing for the reporting period ending September 9, 2026, filed with the SEC September 23, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Largest tenant's lease ends within 12 months
- Servicer stopped advancing
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 91% when the loan was securitized to 9%.
- Net operating income is 159% below the underwritten figure ($-1.5M a year against $2.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.86x at securitization to -0.54x on the latest statements.
- At -0.54x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $21.1M (December 31, 2025), against $40.7M at securitization.
- The filing gives Dec 2026 as the lease end date for the largest tenant (Johnson and Wales University), 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 | $28.4M | 90+ days delinquent | Yes | -0.54x | 9% |
| August 2026 | $28.4M | 90+ days delinquent | Yes | -0.54x | 9% |
| July 2026 | $28.4M | 90+ days delinquent | Yes | -0.62x | 9% |
| June 2026 | $28.4M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $28.4M | 90+ days delinquent | Yes | n/a | n/a |
| April 2026 | $28.4M | 90+ days delinquent | Yes | -0.61x | n/a |
| March 2026 | $28.4M | 90+ days delinquent | Yes | -0.61x | n/a |
| February 2026 | $28.4M | 90+ days delinquent | Yes | -0.61x | n/a |
| January 2026 | $28.4M | 90+ days delinquent | Yes | -0.64x | 9% |
| December 2025 | $28.4M | 90+ days delinquent | Yes | -0.87x | 9% |
| November 2025 | $28.4M | 60-89 days delinquent | Yes | -0.87x | 9% |
| October 2025 | $28.4M | 30-59 days delinquent | Yes | -0.87x | 9% |
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 June 6, 2024, 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 |
|---|---|---|---|---|
| JPMCC Commercial Mortgage Securities Trust 2019-COR5 | 10 | $28,350,000 | Sep 2026 | SEC filing, September 23, 2026 |
Other Charlotte-Concord-Gastonia loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Innovation Park | Charlotte, NC | Office | $182.3M | 3.505% | Nov 2029 | 1.22x | 49% | Current |
| Panorama Tower | Charlotte, NC | Mixed use | $71.5M | 7.37% | Mar 2029 | 2.06x | 72% | Current |
| Hilton at University Place | Charlotte, NC | Hotel | $40.4M | 5.10% | Apr 2029 | 1.86x | 70% | Current |
| Whitehall III & V | Charlotte, NC | Office | $31.5M | 3.693% | Dec 2029 | 1.86x | 88% | Current |
| Queen's Grant | Charlotte, NC | Manufactured housing | $29.7M | 6.40% | Sep 2029 | n/a | n/a | Current |
| Sharon Square | Charlotte, NC | Office | $24.4M | 4.47% | Dec 2029 | 1.35x | 79% | Current |
| Compucom World Headquarters | Fort Mill, SC | Office | $23.5M | 5.06% | Jan 2029 | 1.79x | 100% | Current |
| Ncdc | Statesville, NC | Mixed use | $20.5M | 4.75% | May 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Charlotte-Concord-Gastonia loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 9, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.