Office · Boston, Massachusetts
Park Square
Public CMBS trusts hold $160.0M of the loan on Park Square at 4.146% that reaches maturity on November 1, 2027, in 12 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $160,000,000
- Original balance (same notes)
- $160,000,000
- Interest rate
- 4.146% fixed
- Originated
- October 13, 2017
- Maturity
- November 1, 2027
- Payments
- Interest only for the full term
- Prepayment lockout ended
- November 30, 2019
- Prepayment premium ends
- July 31, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Bank of America, N.A.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred September 13, 2024
- Workout strategy
- REO
- Defeasance
- Partly defeased
The property
- Address
- 31 Saint James Avenue, Boston, MA 02116
- Metro
- Boston-Cambridge-Newton, MA-NH
- Rentable area
- 503,312 sq ft
- Built
- 1910, renovated 2017
- Largest tenants
- HNTB Corporation; ANAQUA INC; HERCULES CAPITAL INC
- Value at securitization
- $281.0M (Aug 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.98x | 0.57x |
| Occupancy | 96% | 40% |
| Net operating income (annualized from 6 months) | $13.3M | $3.8M |
| Debt yield | 2.4% |
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 2017-BNK9 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- 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
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 96% when the loan was securitized to 40%.
- Net operating income is 71% below the underwritten figure ($3.8M a year against $13.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.98x at securitization to 0.57x on the latest statements.
- At 0.57x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $125.0M (October 29, 2024), against $281.0M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $160.0M | 90+ days delinquent | Yes | 0.57x | 40% |
| August 2026 | $160.0M | 90+ days delinquent | Yes | 0.39x | 41% |
| July 2026 | $160.0M | 90+ days delinquent | Yes | 0.39x | 41% |
| June 2026 | $160.0M | 90+ days delinquent | Yes | 0.39x | 41% |
| May 2026 | $160.0M | 90+ days delinquent | Yes | 0.39x | 41% |
| April 2026 | $160.0M | 90+ days delinquent | Yes | 0.36x | 42% |
| March 2026 | $160.0M | 90+ days delinquent | Yes | 0.36x | 42% |
| February 2026 | $160.0M | 90+ days delinquent | Yes | 0.36x | 42% |
| January 2026 | $160.0M | 90+ days delinquent | Yes | 0.12x | 43% |
| December 2025 | $160.0M | 90+ days delinquent | Yes | 0.12x | 43% |
| November 2025 | $160.0M | 90+ days delinquent | Yes | 0.12x | 43% |
| October 2025 | $160.0M | 90+ days delinquent | Yes | 0.12x | 43% |
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.
Special-servicing history
- Transferred to the special servicer September 13, 2024, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2017-BNK8 | 2 | $100,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK 2017-BNK9 | 7 | $60,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Boston-Cambridge-Newton loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Davenport | Cambridge, MA | Office | $105.0M | 4.22% | Feb 2027 | 3.08x | 99% | Current |
| South Station Head House | Boston, MA | Mixed use | $75.0M | 4.495% | Sep 2027 | 2.23x | 89% | Current |
| U-Haul of Medford | Somerville, MA | Self storage | $51.2M | 3.703% | Sep 2027 | n/a | n/a | Current |
| Hampton Inn - Boston Braintree | Braintree, MA | Hotel | $12.6M | 4.75% | Jun 2027 | 1.13x | 82% | Current |
| 400 Manley | West Bridgewater, MA | Industrial | $8.3M | 4.99% | Mar 2027 | -0.26x | 41% | Current |
| Artist Building at 300 Summer Cooperative Corporation | Boston, MA | Other | $8.0M | 4.62% | Sep 2027 | n/a | n/a | Current |
| Best Buy - Braintree | Braintree, MA | Retail | $6.6M | 4.82% | Jan 2027 | 2.93x | 100% | Current |
| Walgreens Dorchester | Boston, MA | Retail | $3.0M | 5.11% | Jan 2027 | n/a | n/a | Current |
All loans maturing in 2027 · All Boston-Cambridge-Newton 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.