Office · Columbia, Maryland
Two Merriweather
Two Merriweather is financed with a $25.6M CMBS loan at 3.825% that reaches maturity on February 11, 2032, in 5 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
- $25,600,000
- Original balance (same notes)
- $25,600,000
- Interest rate
- 3.825% fixed
- Originated
- January 26, 2022
- Maturity
- February 11, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ended
- March 10, 2024
- Prepayment premium ends
- August 10, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 10960 Grantchester Way, Columbia, MD 21044
- Metro
- Baltimore-Columbia-Towson, MD
- Rentable area
- 124,016 sq ft
- Built
- 2017
- Largest tenants
- CONNECTIONS EDUCATION LLC; ENLIGHTEN IT CONSULTING LLC; TedCo
- Value at securitization
- $48.6M (Dec 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.08x | 2.54x |
| Occupancy | 93% | 92% |
| Net operating income (annualized from 6 months) | $3.1M | $2.5M |
| Debt yield | 9.9% |
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 BANK 2022-BNK40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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
- Net operating income is 17% below the underwritten figure ($2.5M a year against $3.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.08x at securitization to 2.54x on the latest statements.
- The filing gives Nov 2028 as the lease end date for the largest tenant (CONNECTIONS EDUCATION 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 | $25.6M | Current | No | 2.54x | 92% |
| August 2026 | $25.6M | Current | No | 2.50x | 84% |
| July 2026 | $29.0M | Current | No | 3.28x | 94% |
| June 2026 | $25.6M | Current | No | 2.50x | 84% |
| May 2026 | $25.6M | Current | No | 2.46x | 85% |
| April 2026 | $25.6M | Current | No | 2.46x | 85% |
| March 2026 | $25.6M | Current | No | 2.46x | 85% |
| February 2026 | $25.6M | Current | No | 2.39x | 85% |
| January 2026 | $25.6M | Current | No | 2.39x | 85% |
| December 2025 | $25.6M | Current | No | 2.39x | 85% |
| November 2025 | $25.6M | Current | No | 2.22x | 85% |
| October 2025 | $25.6M | Current | No | 2.22x | 85% |
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 |
|---|---|---|---|---|
| BANK 2022-BNK40 | 13 | $25,600,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Baltimore-Columbia-Towson loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Merriweather | Columbia, MD | Office | $49.8M | 3.525% | Feb 2032 | 3.03x | 94% | Current |
| Perry Hall Centre And Perry Hall Square | Perry Hall, MD | Retail | $30.1M | 5.22% | May 2032 | 1.60x | 85% | Current |
| Mini U Storage Columbia | Columbia, MD | Self storage | $20.5M | 4.44% | Mar 2032 | n/a | n/a | Current |
| Crossroads Hotel Portfolio | Aberdeen, MD | Hotel | $15.1M | 6.081% | Apr 2032 | 1.74x | 55% | Current |
| Extra Space Storage - Baltimore | Middle River, MD | Self storage | $9.6M | 3.243% | Jan 2032 | 3.31x | 88% | Current |
| Harundale Plaza | Glen Burnie, MD | Retail | $9.3M | 4.20% | Apr 2032 | 3.01x | 83% | Current |
| Johns Hopkins | Laurel, MD | Office | $6.2M | 5.71% | Aug 2032 | 1.91x | 100% | Current |
| Johns Hopkins MOB | Baltimore, MD | Office | $5.7M | 4.665% | Apr 2032 | 2.42x | 100% | 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.