Office · Herndon, Virginia
South Lake at Dulles
Public CMBS trusts hold $60.5M of the loan on South Lake at Dulles at 6.058% that reaches maturity on March 5, 2028, in 16 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $60,500,000
- Original balance (same notes)
- $60,500,000
- Interest rate
- 6.058% fixed
- Originated
- March 2, 2023
- Maturity
- March 5, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 4, 2025
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SGFC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 13820 Sunrise Valley Drive, Herndon, VA 20171
- Metro
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Rentable area
- 269,873 sq ft
- Built
- 2008, renovated 2020
- Largest tenants
- Amazon Corporate LLC
- Value at securitization
- $110.3M (Feb 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.36x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | n/a | $8.8M |
| Debt yield | 14.6% |
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 BBCMS 2023-C20 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $60.5M | Not reported | No | 2.36x | 100% |
| August 2026 | $60.5M | Not reported | No | 2.36x | 100% |
| July 2026 | $60.5M | Not reported | No | 2.30x | 100% |
| June 2026 | $60.5M | Not reported | No | 2.30x | 100% |
| May 2026 | $60.5M | Not reported | No | 2.30x | 100% |
| April 2026 | $60.5M | Not reported | No | 2.30x | 100% |
| March 2026 | $60.5M | Not reported | No | 2.30x | 100% |
| February 2026 | $60.5M | Not reported | No | 2.24x | 100% |
| January 2026 | $60.5M | Not reported | No | 2.24x | 100% |
| December 2025 | $60.5M | Not reported | No | 2.24x | 100% |
| November 2025 | $60.5M | Not reported | No | 2.24x | 100% |
| October 2025 | $60.5M | Not reported | No | 2.22x | 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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2023-C19 | 7-A-1 | $40,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS 2023-C20 | 13-A-2 | $10,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS 2023-C20 | 13-A-3 | $10,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Washington-Arlington-Alexandria loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Tysons Corner Center | McLean, VA | Retail | $269.8M | 6.601% | Dec 2028 | 1.93x | 86% | Current |
| One Dulles Tower | Herndon, VA | Office | $152.0M | 3.986% | Mar 2028 | 2.32x | 100% | Current |
| Village at Leesburg | Leesburg, VA | Retail | $124.3M | 4.758% | Apr 2028 | 1.19x | 96% | Current |
| Extra Space Washington | Washington, DC | Self storage | $105.0M | 4.532% | Mar 2028 | n/a | n/a | Current |
| Sentinel Square II | Washington, DC | Office | $104.0M | 6.05% | Dec 2028 | 1.18x | 94% | Current |
| Braddock Metro Center | Alexandria, VA | Office | $71.6M | 4.57% | Feb 2028 | 1.01x | 81% | With the special servicer and 90+ days delinquent |
| Ellsworth Place | Silver Spring, MD | Retail | $64.5M | 5.01% | Aug 2028 | 1.31x | 91% | With the special servicer and 90+ days delinquent |
| Commonwealth Centre | Chantilly, VA | Office | $49.0M | 3.986% | May 2028 | 3.25x | 100% | Current |
All loans maturing in 2028 · All Washington-Arlington-Alexandria 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.