Office · Las Vegas, Nevada
United Healthcare Office
Public CMBS trusts hold $24.8M of the loan on United Healthcare Office at 4.979% that reached maturity on October 6, 2025, 12 months ago. As of the Sep 2026 servicer report, the latest filed for this loan, its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $24,786,320
- Original balance (same notes)
- $26,800,000
- Interest rate
- 4.979% fixed
- Originated
- October 4, 2019
- Maturity
- October 6, 2025
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ended
- July 5, 2024
- Master servicer
- Trimont LLC
- Originator
- UBS AG
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred October 15, 2024
- Workout strategy
- REO
- Modified
- Yes, most recently October 6, 2024
- Defeasance
- None reported
The property
- Address
- 2716 North Tenaya Way, Las Vegas, NV 89128
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 204,123 sq ft
- Built
- 1998, renovated 2016
- Largest tenants
- United Healthcare Service Inc.
- Value at securitization
- $70.2M (Aug 2019)
Performance
| At securitization | Latest (Jun 2025) | |
|---|---|---|
| DSCR (NOI) | 1.58x | 1.24x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $4.8M | $3.8M |
| Debt yield | 15.2% |
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 UBS Commercial Mortgage Trust 2019-C18 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Past maturity
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 21% below the underwritten figure ($3.8M a year against $4.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.58x at securitization to 1.24x on the latest statements.
- The most recent valuation in the filing is $42.1M (June 12, 2026), against $70.2M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $24.8M | Non performing matured balloon | Yes | 1.24x | 100% |
| August 2026 | $24.8M | Performing matured balloon | Yes | 1.24x | 100% |
| July 2026 | $24.8M | Performing matured balloon | Yes | 1.24x | 100% |
| June 2026 | $24.9M | Non performing matured balloon | Yes | 1.24x | 100% |
| May 2026 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| April 2026 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| March 2026 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| February 2026 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| January 2026 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| December 2025 | $25.1M | Non performing matured balloon | Yes | 1.24x | 100% |
| November 2025 | $25.1M | Performing matured balloon | Yes | 1.24x | 100% |
| October 2025 | $25.2M | Performing matured balloon | Yes | 1.67x | 100% |
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.
Special-servicing history
- Transferred to the special servicer October 15, 2024, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C18 | 9 | $9,248,627 | Sep 2026 | SEC filing, September 28, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 9A | $9,248,627 | Sep 2026 | SEC filing, September 28, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 9B | $6,289,066 | Sep 2026 | SEC filing, September 28, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2025
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| United Healthcare Building - Las Vegas | Las Vegas, NV | Office | $18.5M | 4.979% | Oct 2025 | n/a | n/a | Past maturity and not performing |
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.