Mixed use · Kent, Washington
Kent Station Retail
Kent Station Retail is financed with a $51.8M CMBS loan at 3.50% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $51,780,445
- Original balance (same notes)
- $56,000,000
- Interest rate
- 3.50% fixed
- Originated
- December 4, 2019
- Maturity
- December 6, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- September 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 417 Ramsey Way, Kent, WA 98032
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 243,812 sq ft
- Units, rooms or beds
- 66
- Built
- 2005
- Largest tenants
- Muvico, LLC dba AMC; Social SecurityAdministration; Valley Medical Center
- Value at securitization
- $106.0M (Aug 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.89x | 2.00x |
| Occupancy | 87% | 90% |
| Net operating income (annualized from 6 months) | $5.7M | $12.2M |
| Debt yield | 23.5% |
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 GS Mortgage Securities Trust 2020-GC45 filing for the reporting period ending October 9, 2026, filed with the SEC October 22, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 risen from 87% when the loan was securitized to 90%.
- Net operating income is 113% above the underwritten figure ($12.2M a year against $5.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.89x at securitization to 2.00x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $51.8M | Current | No | 2.00x | 90% |
| September 2026 | $51.9M | Current | No | 1.97x | 88% |
| August 2026 | $52.0M | Current | No | 1.97x | 88% |
| July 2026 | $52.1M | Current | No | 1.97x | 88% |
| June 2026 | $52.2M | Current | No | 1.97x | 88% |
| May 2026 | $52.3M | Current | No | n/a | n/a |
| April 2026 | $52.4M | Current | No | 2.04x | 84% |
| March 2026 | $52.5M | Current | No | 2.04x | 84% |
| February 2026 | $52.6M | Current | No | 1.94x | 89% |
| January 2026 | $52.7M | Current | No | 1.94x | 89% |
| December 2025 | $52.7M | Current | No | 1.94x | 89% |
| November 2025 | $52.8M | Current | No | 1.94x | 89% |
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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2020-GC45 | 6 | $51,780,445 | Oct 2026 | SEC filing, October 22, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Newport Corporate Center | Bellevue, WA | Office | $164.0M | 3.543% | May 2029 | 5.70x | 100% | Current |
| Summit 1, 2, 3 | Bellevue, WA | Office | $155.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
| Sunset North | Bellevue, WA | Office | $150.0M | 3.25% | Oct 2029 | 1.96x | 66% | Current |
| 4th & Battery | Seattle, WA | Office | $135.0M | 4.378% | Jun 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Millennium Corporate Park | Redmond, WA | Office | $131.0M | 3.032% | Jan 2029 | 3.62x | 89% | Current |
| 90 North Campus | Bellevue, WA | Office | $80.0M | 3.732% | Dec 2029 | 2.97x | 100% | Current |
| University Village, Seattle | Seattle, WA | Retail | $75.0M | 3.30% | Dec 2029 | 2.52x | 95% | Current |
| The Summit, Bellevue | Bellevue, WA | Office | $65.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Seattle-Tacoma-Bellevue loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 9, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.