Office · Pittsburgh, Pennsylvania
Parkway Center
Parkway Center is financed with a $40.5M CMBS loan at 5.10% that reaches maturity on June 11, 2028, in 19 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
- $40,491,399
- Original balance (same notes)
- $42,560,000
- Interest rate
- 5.10% fixed
- Originated
- June 8, 2018
- Maturity
- June 11, 2028
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- April 10, 2028
- Master servicer
- Trimont LLC
- Originator
- C-III Commercial Mortgage LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred November 18, 2022
- Workout strategy
- REO
- Defeasance
- None reported
The property
- Address
- 875 Greentree Road and 2, 4, 6, 7, 9, 10 Parkway Center Drive South, Pittsburgh, PA 15220
- Metro
- Pittsburgh, PA
- Rentable area
- 588,913 sq ft
- Built
- 1960, renovated 2017
- Largest tenants
- Quest Diagnostics Incorporated; COUNTY OF ALLEGHENY; Allegheny County DHS
- Value at securitization
- $66.6M (Mar 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.64x | 0.30x |
| Occupancy | 86% | n/a |
| Net operating income (annualized from 6 months) | $4.5M | $829K |
| Debt yield | 2.1% |
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 2018-C45 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
- 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
- Net operating income is 82% below the underwritten figure ($829K a year against $4.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.64x at securitization to 0.30x on the latest statements.
- At 0.30x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $23.2M (August 5, 2025), against $66.6M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $40.5M | 90+ days delinquent | Yes | 0.30x | n/a |
| August 2026 | $40.5M | 90+ days delinquent | Yes | 0.44x | n/a |
| July 2026 | $40.5M | 90+ days delinquent | Yes | 0.44x | n/a |
| June 2026 | $40.5M | 90+ days delinquent | Yes | 0.43x | 51% |
| May 2026 | $40.5M | 90+ days delinquent | Yes | 0.43x | 51% |
| April 2026 | $40.5M | 90+ days delinquent | Yes | 0.43x | 51% |
| March 2026 | $40.5M | 90+ days delinquent | Yes | 0.43x | 51% |
| February 2026 | $40.5M | 90+ days delinquent | Yes | 0.43x | 51% |
| January 2026 | $40.5M | 90+ days delinquent | Yes | 0.85x | 64% |
| December 2025 | $40.5M | 90+ days delinquent | Yes | 0.85x | 64% |
| November 2025 | $40.5M | 90+ days delinquent | Yes | 0.85x | 64% |
| October 2025 | $40.5M | 90+ days delinquent | Yes | 0.85x | 64% |
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 November 18, 2022, 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C45 | 3 | $40,491,399 | Sep 2026 | SEC filing, September 29, 2026 |
Other Pittsburgh loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Zenith Ridge | Canonsburg, PA | Office | $85.7M | 4.70% | Aug 2028 | 1.46x | 70% | Current |
| Great Southern Shopping Center | Bridgeville, PA | Retail | $33.8M | 5.19% | Aug 2028 | 1.28x | 94% | Current |
| 920 Irwin Run Road | West Mifflin, PA | Industrial | $31.9M | 3.772% | May 2028 | n/a | n/a | Current |
| Southland Shopping Center | Pittsburgh, PA | Retail | $31.7M | 4.925% | May 2028 | 1.55x | 90% | Current |
| Whole Foods Pittsburgh | Upper St. Clair, PA | Retail | $15.0M | 4.765% | Apr 2028 | 1.41x | 100% | Current |
| Manor Parking Garage | Pittsburgh, PA | Other | $12.4M | 5.99% | Oct 2028 | 1.22x | 100% | Current |
| Aria Cultural District Lofts | Pittsburgh, PA | Mixed use | $7.8M | 7.08% | Nov 2028 | n/a | n/a | Current |
| 2201 Park Manor Boulevard | Pittsburgh, PA | Office | $3.8M | 5.114% | Oct 2028 | 3.49x | 100% | Current |
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.