Office · Bellevue, Washington
Northrup North Business Park
Northrup North Business Park is financed with a $6.0M CMBS loan at 4.325% that reaches maturity on September 11, 2029, in 2 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,006,775
- Original balance (same notes)
- $6,890,000
- Interest rate
- 4.325% fixed
- Originated
- August 15, 2019
- Maturity
- September 11, 2029
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- June 10, 2029
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2320 130th Avenue Northeast, Bellevue, WA 98005
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 27,350 sq ft
- Built
- 1988, renovated 2018
- Largest tenants
- Pro Forma; Olympia Allergy & Immunology; Optimallife Wellness Clinic LLC
- Value at securitization
- $11.5M (Jul 2019)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.41x | 1.04x |
| Occupancy | 100% | 50% |
| Net operating income | $577K | $426K |
| Debt yield | 7.1% |
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 Wells Fargo Commercial Mortgage Trust 2019-C53 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 100% when the loan was securitized to 50%.
- Net operating income is 26% below the underwritten figure ($426K a year against $577K).
- Debt service coverage moved from 1.41x at securitization to 1.04x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.0M | Current | No | 1.04x | 50% |
| August 2026 | $6.0M | Current | No | 1.04x | 50% |
| July 2026 | $6.0M | Current | No | 1.04x | 50% |
| June 2026 | $6.0M | Current | No | 1.07x | 50% |
| May 2026 | $6.1M | Current | No | 1.07x | 50% |
| April 2026 | $6.1M | Current | No | 1.07x | 50% |
| March 2026 | $6.1M | Current | No | 1.07x | 50% |
| February 2026 | $6.1M | Current | No | 1.07x | 50% |
| January 2026 | $6.1M | Current | No | 1.07x | 50% |
| December 2025 | $6.1M | Current | No | 1.07x | 50% |
| November 2025 | $6.1M | Current | No | 1.07x | 50% |
| October 2025 | $6.1M | Current | No | 1.07x | 50% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2019-C53 | 29 | $6,006,775 | Sep 2026 | SEC filing, September 29, 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 September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.