Multifamily · Tonawanda, New York
Tolip Apartments
Tolip Apartments is financed with a $4.5M CMBS loan at 5.40% that reaches maturity on February 11, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,531,432
- Original balance (same notes)
- $4,850,000
- Interest rate
- 5.40% fixed
- Originated
- January 29, 2019
- Maturity
- February 11, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- December 10, 2028
- Master servicer
- Trimont LLC
- Originator
- C-III Commercial Mortgage LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 25 Mcconkey Drive; 1035 & 1067 Delaware Road; 1370 Sheridan Drive; 25 Logan Avenue; 940 Englewood Avenue, Tonawanda, NY 14223
- Metro
- Buffalo-Cheektowaga, NY
- Units, rooms or beds
- 107
- Built
- 1968, renovated 2018
- Value at securitization
- $7.3M (Nov 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 2.23x |
| Occupancy | 100% | 91% |
| Net operating income (annualized from 6 months) | $463K | $736K |
| Debt yield | 16.2% |
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 2019-C49 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.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 91%.
- Net operating income is 59% above the underwritten figure ($736K a year against $463K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.42x at securitization to 2.23x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.5M | Current | No | 2.23x | 91% |
| August 2026 | $4.5M | Current | No | 2.23x | 91% |
| July 2026 | $4.5M | Current | No | 2.23x | 91% |
| June 2026 | $4.6M | Current | No | 2.09x | 93% |
| May 2026 | $4.6M | Current | No | 2.09x | 93% |
| April 2026 | $4.6M | Current | No | 2.12x | 93% |
| March 2026 | $4.6M | Current | No | 2.03x | 93% |
| February 2026 | $4.6M | Current | No | 2.03x | 93% |
| January 2026 | $4.6M | Current | No | 2.03x | 93% |
| December 2025 | $4.6M | Current | No | 2.03x | 93% |
| November 2025 | $4.6M | Current | No | 2.03x | 93% |
| October 2025 | $4.6M | Current | No | 2.17x | 90% |
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 2019-C49 | 50 | $4,531,432 | Sep 2026 | SEC filing, September 29, 2026 |
Other Buffalo-Cheektowaga loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Crossroads Centre | Orchard Park, NY | Retail | $100.5M | 6.40% | Dec 2029 | n/a | n/a | Current |
| The Residences at 279 North | Buffalo, NY | Mixed use | $22.8M | 6.69% | Mar 2029 | 1.23x | 95% | Current |
| Colonie Apartments | Amherst, NY | Multifamily | $14.2M | 5.15% | Feb 2029 | n/a | n/a | 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.