Multifamily · Seattle, Washington
Sorento Flats
Sorento Flats is financed with a $18.2M CMBS loan at 5.20% that reaches maturity on February 6, 2029, in 2 years and 3 months. As of the Oct 2026 servicer report its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $18,200,000
- Original balance (same notes)
- $18,200,000
- Interest rate
- 5.20% fixed
- Originated
- January 23, 2019
- Maturity
- February 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- October 5, 2028
- Master servicer
- Holliday Fenoglio Fowler L.P.
- Originator
- Deutsche Bank AG, acting through its New York Branch
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred May 24, 2023
- Workout strategy
- Bankruptcy
- Defeasance
- None reported
The property
- Address
- 1414 East Yesler Way, Seattle, WA 98122
- Metro
- Seattle-Tacoma-Bellevue, WA
- Units, rooms or beds
- 155
- Built
- 2017
- Value at securitization
- $30.7M (Oct 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.48x | 0.88x |
| Occupancy | 97% | 91% |
| Net operating income (annualized from 6 months) | $1.4M | $1.7M |
| Debt yield | 9.4% |
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 JPMCC Commercial Mortgage Securities Trust 2019-COR4 filing for the reporting period ending October 6, 2026, filed with the SEC October 21, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (November 2025 to October 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 97% when the loan was securitized to 91%.
- Net operating income is 20% above the underwritten figure ($1.7M a year against $1.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.48x at securitization to 0.88x on the latest statements.
- At 0.88x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $19.1M (February 27, 2026), against $30.7M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $18.2M | 90+ days delinquent | Yes | 0.88x | 91% |
| September 2026 | $18.2M | 90+ days delinquent | Yes | 0.88x | 91% |
| August 2026 | $18.2M | 60-89 days delinquent | Yes | 0.88x | 91% |
| July 2026 | $18.2M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $18.2M | 60-89 days delinquent | Yes | n/a | n/a |
| May 2026 | $18.2M | Late payment but less than 30 days delinquent | Yes | n/a | n/a |
| April 2026 | $18.2M | 30-59 days delinquent | Yes | 1.04x | 86% |
| March 2026 | $18.2M | Late payment but less than 30 days delinquent | Yes | 1.04x | 86% |
| February 2026 | $18.2M | 60-89 days delinquent | Yes | 1.04x | 86% |
| January 2026 | $18.2M | 60-89 days delinquent | Yes | 1.04x | 86% |
| December 2025 | $18.2M | 60-89 days delinquent | Yes | 1.04x | 86% |
| November 2025 | $18.2M | 60-89 days delinquent | Yes | 1.40x | 85% |
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 May 24, 2023, 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 |
|---|---|---|---|---|
| JPMCC Commercial Mortgage Securities Trust 2019-COR4 | 14 | $18,200,000 | Oct 2026 | SEC filing, October 21, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Newport Corporate Center | Bellevue, WA | Office | $164.0M | 3.543% | May 2029 | 5.70x | 100% | Current |
| Summit 1, 2, 3 | Bellevue, WA | Office | $155.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
| Sunset North | Bellevue, WA | Office | $150.0M | 3.25% | Oct 2029 | 1.96x | 66% | Current |
| 4th & Battery | Seattle, WA | Office | $135.0M | 4.378% | Jun 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Millennium Corporate Park | Redmond, WA | Office | $131.0M | 3.032% | Jan 2029 | 3.62x | 89% | Current |
| 90 North Campus | Bellevue, WA | Office | $80.0M | 3.732% | Dec 2029 | 2.97x | 100% | Current |
| University Village, Seattle | Seattle, WA | Retail | $75.0M | 3.30% | Dec 2029 | 2.52x | 95% | Current |
| The Summit, Bellevue | Bellevue, WA | Office | $65.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Seattle-Tacoma-Bellevue loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.