Office · Lynnwood, Washington
Redstone Corporate Center I
Redstone Corporate Center I is financed with a $33.2M CMBS loan at 6.375% that reaches maturity on February 11, 2031, in 4 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $33,240,000
- Original balance (same notes)
- $33,240,000
- Interest rate
- 6.375% fixed
- Originated
- January 29, 2026
- Maturity
- February 11, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 10, 2027
- Prepayment premium ends
- August 10, 2030 (yield maintenance)
- Master servicer
- Trimont
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 19020 33rd Avenue West, Lynnwood, WA 98036
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 212,069 sq ft
- Built
- 2002, renovated 2025
- Largest tenants
- PEMCO Mutual Insurance Co.; Radia Inc.; University Mechanical Contractors, Inc.
- Value at securitization
- $56.3M (Dec 2025)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.33x | n/a |
| Occupancy | 87% | n/a |
| Net operating income | $5.0M | n/a |
Watch flags
Computed from the BANK5 2026-5YR21 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 Jan 2030 as the lease end date for the largest tenant (PEMCO Mutual Insurance Co.), before the loan matures. Lenders look hard at that rollover.
The last 6 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $33.2M | Current | No | n/a | n/a |
| August 2026 | $33.2M | Payment not received but still in grace period or not yet due | No | n/a | n/a |
| July 2026 | $33.2M | Current | No | n/a | n/a |
| June 2026 | $33.2M | Current | No | n/a | n/a |
| May 2026 | $33.2M | Current | No | n/a | n/a |
| April 2026 | $33.2M | Current | No | 1.77x | n/a |
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 |
|---|---|---|---|---|
| BANK5 2026-5YR21 | 10 | $33,240,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Amazon @ Atlas | Seattle, WA | Office | $48.4M | 2.405% | Feb 2031 | 5.82x | 100% | Current |
| Snohomish Station Shopping Center | Snohomish, WA | Retail | $25.3M | 3.32% | Jun 2031 | 2.92x | 99% | Current |
| Shared Roof Seattle | Seattle, WA | Multifamily | $24.4M | 5.915% | Jan 2031 | 1.54x | n/a | Current |
| 700 NW 42nd Street | Seattle, WA | Self storage | $21.0M | 5.738% | Jan 2031 | n/a | n/a | Current |
| C.c. Filson World Headquarters | Seattle, WA | Mixed use | $13.1M | 3.626% | Feb 2031 | 3.28x | 100% | Current |
| Rockefeller Square Apartments | Everett, WA | Multifamily | $11.0M | 6.501% | Jun 2031 | n/a | n/a | Current |
| Executive Hotel Pacific Downtown | Seattle, WA | Hotel | $10.0M | 6.62% | Aug 2031 | n/a | n/a | Current |
| Colby Heights | Everett, WA | Multifamily | $8.1M | 6.177% | Jul 2031 | n/a | n/a | Current |
All loans maturing in 2031 · 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 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.