Office portfolio, 5 properties · Bellevue, Washington
Newport Corporate Center
Public CMBS trusts hold $164.0M of the loan on this portfolio at 3.543% that reaches its anticipated repayment date on May 6, 2029, in 2 years and 6 months. As of the Sep 2026 and Oct 2026 servicer reports its status is current.
The loan
- Balance in tracked trusts
- $164,000,000
- Original balance (same notes)
- $164,000,000
- Interest rate
- 3.543% fixed
- Originated
- April 10, 2019
- Maturity
- October 6, 2030
- Anticipated repayment date
- May 6, 2029 (the rate steps up if the loan is not repaid by then)
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Deutsche Bank AG, acting through its New York Branch/Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3617, 3650 & 3655 131st Avenue Southeast, 3625 132nd Avenue Southeast & 12920 Southeast 38th Street, Bellevue, WA 98006
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 998,284 sq ft
- Built
- 1988, renovated 2019
- Largest tenants
- T Mobile PCS Holdings, LLC; T-Mobile PCS Holdings, LLC; T-Mobile PCS Holdings, LLC
- Value at securitization
- $476.0M (Mar 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 5.63x | 5.70x |
| Occupancy | 99% | 100% |
| Net operating income | $33.1M | $33.6M |
| Debt yield | 20.5% |
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 2019-GC40 filing for the reporting period ending October 6, 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $50.0M | Current | No | 5.70x | 100% |
| September 2026 | $164.0M | Current | No | 5.70x | 100% |
| August 2026 | $164.0M | Current | No | 5.70x | 100% |
| July 2026 | $164.0M | Current | No | 5.67x | 100% |
| June 2026 | $164.0M | Current | No | 5.67x | 100% |
| May 2026 | $164.0M | Current | No | 5.64x | 100% |
| April 2026 | $164.0M | Current | No | 5.64x | 100% |
| March 2026 | $164.0M | Current | No | 5.64x | 100% |
| February 2026 | $164.0M | Current | No | 5.64x | 100% |
| January 2026 | $164.0M | Current | No | 5.62x | 100% |
| December 2025 | $164.0M | Current | No | 5.62x | 100% |
| November 2025 | $164.0M | Current | No | 5.44x | 100% |
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
The loan is split into 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2019-GC40 | 7 | $50,000,000 | Oct 2026 | SEC filing, October 22, 2026 |
| Benchmark 2019-B11 Mortgage Trust | 10 | $40,200,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BANK 2019-BNK18 | 4 | $33,800,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2019-BNK18 | 4A | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2019-BNK18 | 4B | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 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 |
| The Outlet Collection Seattle | Auburn, WA | Retail | $53.3M | 7.33% | Dec 2029 | 2.57x | 98% | 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 periods ending September 11, 2026, October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.