Office · Philadelphia, Pennsylvania
One Penn Center
1601-1629 John F. Kennedy Boulevard, Philadelphia, PA · Google Maps
Public CMBS trusts hold $19.2M of the loan on One Penn Center at 7.30% that reaches maturity on August 11, 2031, in 4 years and 9 months. As of the Nov 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $19,189,461
- Original balance (same notes)
- $19,250,000
- Interest rate
- 7.30% fixed
- Originated
- August 7, 2026
- Maturity
- August 11, 2031
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- May 10, 2031
- 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
- 1601-1629 John F. Kennedy Boulevard, Philadelphia, PA 19103
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 705,032 sq ft
- Built
- 1930, renovated 2025
- Largest tenants
- Philadelphia Works, Inc.; United States Government; City of Philadelphia
- Value at securitization
- $104.4M (Jul 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.95x | n/a |
| Occupancy | 85% | n/a |
| Net operating income | $9.4M | n/a |
No debt yield is shown: the notes in the trusts below add up to only part of this loan, and the rest is held outside the public trusts tracked here, so the whole balance is not in these filings.
Comparable loans: office properties in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-V24 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC October 26, 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
- The filing gives Dec 2030 as the lease end date for the largest tenant (Philadelphia Works, Inc.), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Non-recourse carveout guarantor
- Shown with Pro
- Sponsor
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Nov 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $18.1M | n/a | |
| Operating expenses | $8.7M | n/a | |
| Net operating income | $9.4M | n/a | |
| Net cash flow | $7.4M | n/a | |
| Expense ratio | 48.2% | n/a |
From the servicer's Schedule AL report; 705,032 sq ft; renovated 2025.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Philadelphia Works, Inc. | 75,731 | 11% | Dec 2030 |
| United States Government | 53,297 | 8% | Aug 2035 |
| City of Philadelphia | 50,000 | 7% | Feb 2041 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-V24 Mortgage Trust | 9 | $19,189,461 | Nov 2026 | SEC filing, October 26, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 400 Arcola Road | Collegeville, PA | Mixed use | $125.0M | 6.781% | Mar 2031 | n/a | n/a | Current |
| The Atlantic | Philadelphia, PA | Multifamily | $125.0M | 3.456% | Feb 2031 | 1.26x | 95% | Current |
| Deptford Mall | Deptford, NJ | Retail | $115.0M | 6.95% | May 2031 | n/a | n/a | Current |
| Velocity Industrial Portfolio | Lansdale, PA | Industrial | $75.0M | 3.23% | Jul 2031 | 3.29x | 90% | Current |
| Two Penn Center | Philadelphia, PA | Office | $67.9M | 3.268% | Apr 2031 | 2.38x | 74% | Current |
| 300 Four Falls | Conshohocken, PA | Office | $57.6M | 6.846% | Jan 2031 | 0.96x | 89% | Current |
| Wessex House and 2 other properties | Wayne, PA | Multifamily | $57.5M | 5.72% | Mar 2031 | n/a | n/a | Current |
| The Court at Oxford Valley | Fairless Hills, PA | Retail | $52.5M | 3.20% | Jul 2031 | 1.87x | 92% | Current |
All loans maturing in 2031 · All Philadelphia-Camden-Wilmington loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.