Multifamily · Worcester, Massachusetts
The Grid
Public CMBS trusts hold $59.0M of the loan on The Grid at 3.80% that reaches maturity on April 6, 2030, in 3 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $58,986,293
- Original balance (same notes)
- $67,500,000
- Interest rate
- 3.80% fixed
- Originated
- March 11, 2020
- Maturity
- April 6, 2030
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- January 5, 2030
- Master servicer
- Trimont LLC
- Originator
- Ladder Capital Finance LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 50, 60 and 66 Franklin Street; 507-518 Main Street; 8-16 and 26 Portland Street, Worcester, MA 01608
- Metro
- Worcester, MA
- Units, rooms or beds
- 466
- Built
- 1912, renovated 2017
- Value at securitization
- $99.8M (Mar 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.45x | 1.66x |
| Occupancy | 99% | 88% |
| Net operating income (annualized from 6 months) | $5.5M | $6.3M |
| Debt yield | 10.7% |
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-C57 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 88%.
- Net operating income is 15% above the underwritten figure ($6.3M a year against $5.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.45x at securitization to 1.66x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $59.0M | Current | No | 1.66x | 88% |
| August 2026 | $59.1M | Current | No | 1.69x | 90% |
| July 2026 | $59.2M | Current | No | 1.69x | 90% |
| June 2026 | $59.4M | Current | No | 1.69x | 90% |
| May 2026 | $59.5M | Current | No | 1.39x | 90% |
| April 2026 | $59.6M | Current | No | 1.39x | 90% |
| March 2026 | $59.7M | Current | No | 1.38x | 84% |
| February 2026 | $59.9M | Current | No | 1.38x | 84% |
| January 2026 | $60.0M | Current | No | 1.38x | 84% |
| December 2025 | $60.1M | Current | No | 1.37x | 80% |
| November 2025 | $60.2M | Current | No | 1.37x | 80% |
| October 2025 | $60.3M | Current | No | 1.37x | 80% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2020-C56 | 2 | $31,896,292 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2020-C56 | 2A | $13,981,936 | Sep 2026 | SEC filing, September 29, 2026 |
| Wells Fargo Commercial Mortgage Trust 2020-C57 | 16 | $13,108,065 | Sep 2026 | SEC filing, September 29, 2026 |
Other Worcester loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| CFS Industrial HQ | Devens, MA | Industrial | $52.8M | 6.746% | Oct 2030 | 1.91x | 100% | Current |
| 114 Allen Street | Clinton, MA | Self storage | $2.9M | 4.38% | Sep 2030 | 1.30x | 92% | Current |
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.