Office · Philadelphia, Pennsylvania
Two Penn Center
Two Penn Center is financed with a $67.9M CMBS loan at 3.268% that reaches maturity on April 11, 2031, in 4 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
- $67,900,000
- Original balance (same notes)
- $67,900,000
- Interest rate
- 3.268% fixed
- Originated
- April 9, 2021
- Maturity
- April 11, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 10, 2031
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1500 John F Kennedy Boulevard, Philadelphia, PA 19102
- Metro
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Rentable area
- 516,108 sq ft
- Built
- 1956, renovated 1987
- Largest tenants
- GSA; Colliers Engineering & Design; Philadelphia Municipal Authori
- Value at securitization
- $118.7M (Feb 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.58x | 2.07x |
| Occupancy | 85% | 74% |
| Net operating income (annualized from 3 months) | $8.1M | $4.7M |
| Debt yield | 6.9% |
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 WELLS FARGO COMMERCIAL MORTGAGE TRUST 2021-C59 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 85% when the loan was securitized to 74%.
- Net operating income is 42% below the underwritten figure ($4.7M a year against $8.1M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.58x at securitization to 2.07x on the latest statements.
- The filing gives May 2029 as the lease end date for the largest tenant (GSA), 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 | $67.9M | Current | No | 2.07x | 74% |
| August 2026 | $67.9M | Late payment but less than 30 days delinquent | No | 2.88x | 73% |
| July 2026 | $67.9M | Current | No | 2.88x | 73% |
| June 2026 | $67.9M | Current | No | 2.88x | 73% |
| May 2026 | $67.9M | Current | No | 2.92x | 73% |
| April 2026 | $67.9M | Current | No | 2.92x | 73% |
| March 2026 | $67.9M | Current | No | 2.92x | 73% |
| February 2026 | $67.9M | Current | No | 2.92x | 73% |
| January 2026 | $67.9M | Current | No | 3.42x | 82% |
| December 2025 | $67.9M | Current | No | 3.42x | 82% |
| November 2025 | $67.9M | Current | No | 3.42x | 82% |
| October 2025 | $67.9M | Current | No | 3.42x | 82% |
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 2021-C59 | 1 | $67,900,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Philadelphia-Camden-Wilmington loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Atlantic | Philadelphia, PA | Multifamily | $125.0M | 3.456% | Feb 2031 | 1.26x | 95% | Current |
| Deptford Mall | Deptford, NJ | Retail | $115.0M | 6.95% | May 2031 | n/a | n/a | Current |
| 400 Arcola Road | Collegeville, PA | Mixed use | $110.0M | 6.781% | Mar 2031 | n/a | n/a | Current |
| Velocity Industrial Portfolio | Lansdale, PA | Industrial | $75.0M | 3.23% | Jul 2031 | 3.29x | 90% | Current |
| 300 Four Falls | Conshohocken, PA | Office | $57.6M | 6.846% | Jan 2031 | 0.96x | 89% | Current |
| Wessex House | Wayne, PA | Multifamily | $57.5M | 5.72% | Mar 2031 | n/a | n/a | Current |
| The Court at Oxford Valley | Fairless Hills, PA | Retail | $52.6M | 3.20% | Jul 2031 | 2.23x | 92% | Current |
| Crosby Hill Apartments | Wilmington, DE | Multifamily | $45.0M | 5.49% | Jan 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Philadelphia-Camden-Wilmington 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.