Office · Everett, Washington
Port Gardner Building
Port Gardner Building is financed with a $12.1M CMBS loan at 4.47% that reaches maturity on August 1, 2027, in 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,114,233
- Original balance (same notes)
- $13,000,000
- Interest rate
- 4.47% fixed
- Originated
- July 20, 2017
- Maturity
- August 1, 2027
- Payments
- Interest only for the full term
- Prepayment premium ends
- April 30, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Macquarie US Trading LLC d/b/a Principal Commercial Capital
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2801- 2802 Wetmore Avenue, Everett, WA 98201
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 98,698 sq ft
- Built
- 1929, renovated 2017
- Largest tenants
- Funko LLC; Wells Fargo Bank
- Value at securitization
- $23.4M (Jun 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.60x | 2.69x |
| Occupancy | 92% | 100% |
| Net operating income (annualized from 6 months) | $1.5M | $2.1M |
| Debt yield | 17.6% |
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 CD 2017-CD6 Mortgage Trust filing for the reporting period ending September 9, 2026, filed with the SEC September 25, 2026.
- Matures within 12 months
- Largest tenant's lease ends within 12 months
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 risen from 92% when the loan was securitized to 100%.
- Net operating income is 39% above the underwritten figure ($2.1M a year against $1.5M; the latest statement covers 6 months, annualized).
- The filing gives Jan 2027 as the lease end date for the largest tenant (Funko LLC), 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 | $12.1M | Current | No | 2.69x | 100% |
| August 2026 | $12.1M | Current | No | 2.78x | 100% |
| July 2026 | $12.2M | Current | No | 2.78x | 100% |
| June 2026 | $12.2M | Current | No | 2.78x | 100% |
| May 2026 | $12.2M | Current | No | 2.78x | 100% |
| April 2026 | $12.2M | Current | No | 2.78x | 100% |
| March 2026 | $12.2M | Current | No | 2.78x | 100% |
| February 2026 | $12.3M | Current | No | 2.78x | 100% |
| January 2026 | $12.3M | Current | No | 2.78x | 100% |
| December 2025 | $12.3M | Current | No | 2.78x | 100% |
| November 2025 | $12.3M | Current | No | 2.78x | 100% |
| October 2025 | $12.3M | Current | No | 2.78x | 100% |
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 |
|---|---|---|---|---|
| CD 2017-CD6 Mortgage Trust | 29 | $12,114,233 | Sep 2026 | SEC filing, September 25, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Komo Plaza | Seattle, WA | Mixed use | $139.0M | 4.299% | Jan 2027 | 2.85x | 100% | Current |
| Westin Building Exchange | Seattle, WA | Other | $135.0M | 3.29% | Jul 2027 | 18.47x | 71% | Current |
| Grand Hyatt Seattle | Seattle, WA | Hotel | $133.0M | 4.74% | Jun 2027 | -0.24x | 66% | Current |
| Renaissance Seattle Hotel | Seattle, WA | Hotel | $127.0M | 4.81% | Jun 2027 | 0.41x | 66% | Current |
| Bravern Office Commons | Bellevue, WA | Office | $75.0M | 3.203% | Jan 2027 | 3.54x | 100% | With the special servicer and 90+ days delinquent |
| 1000 Denny Way | Seattle, WA | Office | $56.0M | 5.107% | Feb 2027 | 1.69x | 57% | With the special servicer |
| Centre 425 Bellevue, Bellevue (2027 maturity), loan 8 in CSAIL 2017-CX10 Commercial Mortgage Trust | Bellevue, WA | Office | $44.0M | 4.151% | Nov 2027 | 1.94x | 100% | Current |
| Centre 425 Bellevue, Bellevue (2027 maturity), loan 4 in UBS Commercial Mortgage Trust 2017-C5 | Bellevue, WA | Office | $40.0M | 4.151% | Nov 2027 | 4.53x | 100% | Current |
All loans maturing in 2027 · All Seattle-Tacoma-Bellevue loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 9, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.