Office · Lone Tree, Colorado
One Lincoln Station
One Lincoln Station is financed with a $27.0M CMBS loan at 4.805% that reaches maturity on April 11, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $27,000,000
- Original balance (same notes)
- $27,000,000
- Interest rate
- 4.805% fixed
- Originated
- March 13, 2018
- Maturity
- April 11, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 10, 2028
- 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
- 9380 Station Street, Lone Tree, CO 80124
- Metro
- Denver-Aurora-Centennial, CO
- Rentable area
- 147,184 sq ft
- Built
- 2008
- Largest tenants
- Shea Homes Ltd Partnership; Crestone Holdings LLC; Flintco LLC
- Value at securitization
- $43.8M (Jan 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.07x | 0.69x |
| Occupancy | 97% | 76% |
| Net operating income (annualized from 6 months) | $2.7M | $913K |
| Debt yield | 3.4% |
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 BANK 2018-BNK11 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- 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
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 97% when the loan was securitized to 76%.
- Net operating income is 67% below the underwritten figure ($913K a year against $2.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.07x at securitization to 0.69x on the latest statements.
- At 0.69x, the property's reported NOI does not cover its debt service.
- The filing gives Aug 2027 as the lease end date for the largest tenant (Shea Homes Ltd Partnership), 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 | $27.0M | Current | No | 0.69x | 76% |
| August 2026 | $27.0M | Current | No | 0.57x | 69% |
| July 2026 | $27.0M | Current | No | 0.57x | 69% |
| June 2026 | $27.0M | Current | No | 0.57x | 69% |
| May 2026 | $27.0M | Current | No | 0.27x | 59% |
| April 2026 | $27.0M | Current | No | 0.18x | 56% |
| March 2026 | $27.0M | Current | No | 0.18x | 56% |
| February 2026 | $27.0M | Current | No | 0.18x | 56% |
| January 2026 | $27.0M | Current | No | 0.18x | 56% |
| December 2025 | $27.0M | Current | No | 0.18x | 56% |
| November 2025 | $27.0M | Current | No | 0.04x | 56% |
| October 2025 | $27.0M | Current | No | 0.04x | 56% |
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 |
|---|---|---|---|---|
| BANK 2018-BNK11 | 11 | $27,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Denver-Aurora-Centennial loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Re/max Plaza | Denver, CO | Office | $65.5M | 4.681% | Apr 2028 | 3.04x | 100% | Current |
| Thorncreek Crossing | Thornton, CO | Retail | $30.7M | 4.623% | May 2028 | 2.31x | 99% | Current |
| 3300 East 1st Avenue | Denver, CO | Mixed use | $24.4M | 4.90% | Jun 2028 | 1.83x | 82% | Current |
| Cherry Tower | Denver, CO | Office | $18.2M | 4.835% | Sep 2028 | 1.26x | 63% | With the special servicer |
| Fairfield Inn & Suites Denver/aurora | Aurora, CO | Hotel | $10.9M | 5.42% | Oct 2028 | 1.21x | 67% | Current |
| Hyatt House Broomfield | Broomfield, CO | Hotel | $9.6M | 5.41% | Mar 2028 | n/a | n/a | Current |
| A Storage Place - Evergreen | Evergreen, CO | Self storage | $9.5M | 4.997% | Feb 2028 | n/a | n/a | Current |
| Holiday Inn Express & Suites Wheat Ridge | Wheat Ridge, CO | Hotel | $8.8M | 4.976% | Jul 2028 | -0.58x | 65% | With the special servicer and 90+ days delinquent |
All loans maturing in 2028 · All Denver-Aurora-Centennial 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.