Mixed use · Portland, Oregon
Pittock Block
Public CMBS trusts hold $141.0M of the loan on Pittock Block at 3.299% that reaches maturity on January 1, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $141,000,000
- Original balance (same notes)
- $141,000,000
- Interest rate
- 3.299% fixed
- Originated
- December 30, 2020
- Maturity
- January 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ended
- April 30, 2021
- Prepayment premium ends
- September 30, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 921 SW Washington St., Portland, OR 97205
- Metro
- Portland-Vancouver-Hillsboro, OR-WA
- Rentable area
- 297,698 sq ft
- Built
- 1913, renovated 2001
- Largest tenants
- META Platforms (pt000093); HENNEBERY EDDY ARCHI (pt000103); DCI - D'Amato, Conversano, Inc. (pt000081)
- Value at securitization
- $329.0M (Dec 2020)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.55x | 5.54x |
| Occupancy | 71% | 32% |
| Net operating income (annualized from 3 months) | $12.0M | $26.5M |
| Debt yield | 18.8% |
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 Benchmark 2021-B24 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Occupancy down 10 points 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 71% when the loan was securitized to 32%.
- Net operating income is 120% above the underwritten figure ($26.5M a year against $12.0M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.55x at securitization to 5.54x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $141.0M | Current | No | 5.54x | 32% |
| August 2026 | $141.0M | Current | No | 5.54x | 32% |
| July 2026 | $141.0M | Current | No | 5.54x | 32% |
| June 2026 | $141.0M | Current | No | 5.54x | 32% |
| May 2026 | $141.0M | Current | No | n/a | n/a |
| April 2026 | $141.0M | Current | No | 4.96x | 31% |
| March 2026 | $141.0M | Current | No | 5.10x | 32% |
| February 2026 | $141.0M | Current | No | 5.10x | 32% |
| January 2026 | $141.0M | Current | No | 5.10x | 32% |
| December 2025 | $141.0M | Current | No | 5.10x | 32% |
| November 2025 | $141.0M | Current | No | 5.17x | 35% |
| October 2025 | $141.0M | Current | No | 5.17x | 35% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2021-B23 MORTGAGE TRUST | 6 | $75,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
| Benchmark 2021-B24 Mortgage Trust | 5 | $66,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Portland-Vancouver-Hillsboro loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Clackamas Town Center | Happy Valley, OR | Retail | $97.0M | 6.96% | Sep 2031 | n/a | n/a | Current |
| Parkworks Industry Center | Wilsonville, OR | Industrial | $64.8M | 3.502% | Dec 2031 | 2.76x | 88% | Current |
| Nyberg Portfolio - Rivers | Portland, OR | Retail | $63.9M | 3.641% | Dec 2031 | n/a | n/a | Current |
| Residences at Arnada | Vancouver, WA | Multifamily | $15.0M | 6.10% | May 2031 | n/a | n/a | Current |
| Brookside Apartments | Gresham, OR | Multifamily | $13.8M | 6.812% | Oct 2031 | n/a | n/a | Current |
| Orchard Market Place | Vancouver, WA | Retail | $12.5M | 3.15% | Oct 2031 | 3.84x | 73% | Current |
| The Hanna Building | Portland, OR | Office | $10.8M | 6.722% | Jun 2031 | n/a | n/a | Current |
| Iron Gate Mega Storage | Vancouver, WA | Self storage | $10.0M | 3.038% | Jan 2031 | 4.14x | 83% | Current |
All loans maturing in 2031 · All Portland-Vancouver-Hillsboro 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.