Office · Bellevue, Washington
Sunset North
Public CMBS trusts hold $150.0M of the loan on Sunset North at 3.25% that reaches maturity on October 1, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $150,000,000
- Original balance (same notes)
- $150,000,000
- Interest rate
- 3.25% fixed
- Originated
- September 10, 2019
- Maturity
- October 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 30, 2029
- Master servicer
- Midland
- Originator
- JPMorgan Chase Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3120 139th Avenue SE 3150, 3180 139th Ave SE, Bellevue, WA 98005
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 464,061 sq ft
- Built
- 1999, renovated 2019
- Largest tenants
- Arenanet, LLC; 139th Ave SE LLC; Farmers New World Life Ins
- Value at securitization
- $227.1M (Aug 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.75x | 1.96x |
| Occupancy | 99% | 66% |
| Net operating income | $13.6M | $9.7M |
| Debt yield | 6.5% |
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 2019-B15 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 99% when the loan was securitized to 66%.
- Net operating income is 29% below the underwritten figure ($9.7M a year against $13.6M).
- Debt service coverage moved from 2.75x at securitization to 1.96x on the latest statements.
- The filing gives May 2029 as the lease end date for the largest tenant (Arenanet, 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 | $150.0M | Current | No | 1.96x | 66% |
| August 2026 | $150.0M | Current | No | 1.96x | 66% |
| July 2026 | $150.0M | Current | No | 1.96x | 66% |
| June 2026 | $150.0M | Current | No | n/a | n/a |
| May 2026 | $150.0M | Current | No | n/a | n/a |
| April 2026 | $150.0M | Current | No | 2.30x | 66% |
| March 2026 | $150.0M | Current | No | 2.30x | 66% |
| February 2026 | $150.0M | Current | No | 2.49x | 66% |
| January 2026 | $150.0M | Current | No | 2.49x | 66% |
| December 2025 | $150.0M | Current | No | 2.76x | 66% |
| November 2025 | $150.0M | Current | No | 2.76x | 66% |
| October 2025 | $150.0M | Current | No | 2.76x | 66% |
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 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2019-B13 Mortgage Trust | 1 | $75,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| JPMDB Commercial Mortgage Securities Trust 2019-COR6 | 9 | $35,000,000 | Sep 2026 | SEC filing, September 23, 2026 |
| Benchmark 2019-B14 Mortgage Trust | 28 | $20,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| BENCHMARK 2019-B15 MORTGAGE TRUST | 17 | $20,000,000 | Sep 2026 | SEC filing, September 30, 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 |
| 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 |
| The Outlet Collection Seattle | Auburn, WA | Retail | $53.3M | 7.33% | Dec 2029 | 2.57x | 98% | 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 periods ending September 9, 2026, September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.