Office · Tacoma, Washington
The Commerce Building
The Commerce Building is financed with a $8.2M CMBS loan at 3.88% that reaches maturity on January 6, 2030, in 3 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,200,000
- Original balance (same notes)
- $8,200,000
- Interest rate
- 3.88% fixed
- Originated
- December 20, 2019
- Maturity
- January 6, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2029
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 950 Pacific Avenue, Tacoma, WA 98402
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 84,842 sq ft
- Built
- 1920, renovated 1986
- Largest tenants
- Chamber of Commerce; Washington Trust Bank; Greater Tacoma Comm Foundation
- Value at securitization
- $12.8M (Nov 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.81x | 5.13x |
| Occupancy | 93% | 100% |
| Net operating income (annualized from 6 months) | $910K | $1.7M |
| Debt yield | 20.3% |
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 Wells Fargo Commercial Mortgage Trust 2020-C55 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- 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 93% when the loan was securitized to 100%.
- Net operating income is 83% above the underwritten figure ($1.7M a year against $910K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.81x at securitization to 5.13x on the latest statements.
- The filing gives Sep 2027 as the lease end date for the largest tenant (Chamber of Commerce), 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 | $8.2M | Current | No | 5.13x | 100% |
| August 2026 | $8.2M | Current | No | 5.13x | 100% |
| July 2026 | $8.2M | Current | No | 5.31x | 100% |
| June 2026 | $8.2M | Current | No | 5.31x | 100% |
| May 2026 | $8.2M | Current | No | 5.31x | 100% |
| April 2026 | $8.2M | Current | No | 3.47x | 100% |
| March 2026 | $8.2M | Current | No | 3.47x | 100% |
| February 2026 | $8.2M | Current | No | 3.47x | 100% |
| January 2026 | $8.2M | Current | No | 2.78x | 99% |
| December 2025 | $8.2M | Current | No | 2.78x | 99% |
| November 2025 | $8.2M | Current | No | 2.78x | 99% |
| October 2025 | $8.2M | Current | No | 2.46x | 99% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2020-C55 | 38 | $8,200,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Southcenter Mall | Seattle, WA | Retail | $218.0M | 2.88% | Jan 2030 | 6.91x | 91% | Current |
| F5 Tower | Seattle, WA | Office | $185.0M | 3.699% | Jan 2030 | 3.71x | 100% | Current |
| Amazon Seattle (300 Pine) | Seattle, WA | Office | $141.9M | 3.005% | Apr 2030 | 2.71x | 91% | Current |
| Redmond Town Center | Redmond, WA | Retail | $121.5M | 6.70% | Mar 2030 | 1.46x | 87% | Current |
| 9th & Thomas | Seattle, WA | Office | $96.0M | 3.60% | Oct 2030 | 2.27x | 100% | Current |
| Amazon Seattle | Seattle, WA | Office | $93.0M | 3.005% | Apr 2030 | 2.41x | 91% | Current |
| Sterling Plaza | Bellevue, WA | Office | $53.6M | 6.492% | Nov 2030 | 1.80x | 92% | Current |
| FedEx Redmond | Redmond, WA | Industrial | $45.1M | 3.87% | Jan 2030 | 2.23x | 100% | Current |
All loans maturing in 2030 · 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.