Industrial · Durham, North Carolina
North Carolina Technical Park
North Carolina Technical Park is financed with a $22.2M CMBS loan at 4.50% that reaches maturity on July 6, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $22,238,379
- Original balance (same notes)
- $25,500,000
- Interest rate
- 4.50% fixed
- Originated
- June 25, 2019
- Maturity
- July 6, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- April 5, 2029
- Master servicer
- Midland
- Originator
- AREF
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1101 Hamlin Road, Durham, NC 27704
- Metro
- Durham-Chapel Hill, NC
- Rentable area
- 302,894 sq ft
- Built
- 1984, renovated 2017
- Largest tenants
- KBI BioPharma Inc.; KBI BioPharma, Inc.; At&t Cell Tower
- Value at securitization
- $37.9M (May 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.49x | 1.25x |
| Occupancy | 87% | 58% |
| Net operating income (annualized from 6 months) | $2.3M | $3.9M |
| Debt yield | 17.6% |
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 Morgan Stanley Capital I Trust 2019-H7 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Occupancy down 10 points or more from securitization
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 87% when the loan was securitized to 58%.
- Net operating income is 69% above the underwritten figure ($3.9M a year against $2.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.49x at securitization to 1.25x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $22.2M | Current | No | 1.25x | 58% |
| August 2026 | $22.3M | Current | No | 1.25x | 58% |
| July 2026 | $22.3M | Current | No | 1.32x | 58% |
| June 2026 | $22.4M | Current | No | 1.32x | 58% |
| May 2026 | $22.4M | Current | No | n/a | n/a |
| April 2026 | $22.5M | Current | No | 1.28x | 58% |
| March 2026 | $22.5M | Current | No | 1.28x | 58% |
| February 2026 | $22.5M | Current | No | 1.28x | 58% |
| January 2026 | $22.6M | Current | No | 1.28x | 58% |
| December 2025 | $22.6M | Current | No | 1.38x | 58% |
| November 2025 | $22.7M | Current | No | 1.38x | 58% |
| October 2025 | $22.7M | Current | No | 1.38x | 58% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-H7 | 8 | $22,238,379 | Sep 2026 | SEC filing, October 2, 2026 |
Other Durham-Chapel Hill loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 4813, 4815 & 4721 Emperor Boulevard and 1005, 1007 & 1009 Slater Road | Durham, NC | Office | $108.0M | 7.364% | Mar 2029 | n/a | n/a | Current |
| Exchange On Erwin | Durham, NC | Mixed use | $75.5M | 3.421% | Dec 2029 | 0.99x | n/a | Current |
| C.I.G. Multifamily Portfolio | Roxboro, NC | Multifamily | $24.5M | 6.984% | Jul 2029 | n/a | n/a | Current |
| Marriott Durham City Center | Durham, NC | Hotel | $19.5M | 8.05% | Sep 2029 | 1.84x | n/a | Current |
| Castalia at Meadowmont | Chapel Hill, NC | Office | $8.8M | 3.669% | Dec 2029 | 3.31x | 96% | Current |
| Bee Safe Storage - Creekside | Apex, NC | Self storage | $7.5M | 6.964% | Feb 2029 | 1.58x | 96% | Current |
| The Courtyard of Chapel Hill | Chapel Hill, NC | Mixed use | $7.4M | 3.78% | Jul 2029 | 2.98x | 100% | Current |
| Vilcom Office | Chapel Hill, NC | Office | $4.9M | 4.435% | Dec 2029 | 1.39x | 85% | With the special servicer and 90+ days delinquent |
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.