Office · Chapel Hill, North Carolina
Vilcom Office
Vilcom Office is financed with a $4.9M CMBS loan at 4.435% that reaches maturity on December 6, 2029, in 3 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $4,913,355
- Original balance (same notes)
- $5,200,000
- Interest rate
- 4.435% fixed
- Originated
- November 13, 2019
- Maturity
- December 6, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- September 5, 2029
- Master servicer
- Trimont LLC
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred May 1, 2026
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 88 Vilcom Center Drive, Chapel Hill, NC 27514
- Metro
- Durham-Chapel Hill, NC
- Rentable area
- 39,608 sq ft
- Built
- 1978, renovated 2019
- Largest tenants
- Piedmont Healthcare Inc; Habitat For Humanity; Tyler Goodridge DDS FICOI
- Value at securitization
- $7.6M (Oct 2019)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 2.26x | 1.39x |
| Occupancy | 98% | 85% |
| Net operating income (annualized from 9 months) | $529K | $437K |
| Debt yield | 8.9% |
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 CITIGROUP COMMERCIAL MORTGAGE TRUST 2019-C7 filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- Largest tenant's lease ends within 12 months
On the cmbs.news watch list in every report since May 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
- Occupancy has fallen from 98% when the loan was securitized to 85%.
- Net operating income is 17% below the underwritten figure ($437K a year against $529K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 2.26x at securitization to 1.39x on the latest statements.
- The filing gives Oct 2026 as the lease end date for the largest tenant (Piedmont Healthcare Inc), 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 | $4.9M | 90+ days delinquent | Yes | 1.39x | 85% |
| August 2026 | $4.9M | 90+ days delinquent | Yes | 1.39x | 85% |
| July 2026 | $4.9M | 60-89 days delinquent | Yes | 1.39x | 85% |
| June 2026 | $4.9M | 30-59 days delinquent | Yes | 1.39x | 85% |
| May 2026 | $4.9M | Late payment but less than 30 days delinquent | Yes | 1.39x | 85% |
| April 2026 | $4.9M | Current | No | 1.39x | 85% |
| March 2026 | $4.9M | Current | No | 1.39x | 85% |
| February 2026 | $4.9M | Current | No | 1.39x | 85% |
| January 2026 | $4.9M | Current | No | 1.48x | 85% |
| December 2025 | $4.9M | Current | No | 1.48x | 85% |
| November 2025 | $5.0M | Current | No | 1.48x | 85% |
| October 2025 | $5.0M | Current | No | 1.48x | 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.
Special-servicing history
- Transferred to the special servicer May 1, 2026, 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2019-C7 | 49 | $4,913,355 | Sep 2026 | SEC filing, September 30, 2026 |
Other Durham-Chapel Hill loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 4813, 4815 & 4721 Emperor Boulevard and 1005, 1007 & 1009 Slater Road | Durham, NC | Office | $108.0M | 7.364% | Mar 2029 | n/a | n/a | Current |
| Exchange On Erwin | Durham, NC | Mixed use | $75.5M | 3.421% | Dec 2029 | 0.99x | n/a | Current |
| C.I.G. Multifamily Portfolio | Roxboro, NC | Multifamily | $24.5M | 6.984% | Jul 2029 | n/a | n/a | Current |
| North Carolina Technical Park | Durham, NC | Industrial | $22.2M | 4.50% | Jul 2029 | 1.25x | 58% | Current |
| Marriott Durham City Center | Durham, NC | Hotel | $19.5M | 8.05% | Sep 2029 | 1.84x | n/a | Current |
| Castalia at Meadowmont | Chapel Hill, NC | Office | $8.8M | 3.669% | Dec 2029 | 3.31x | 96% | Current |
| Bee Safe Storage - Creekside | Apex, NC | Self storage | $7.5M | 6.964% | Feb 2029 | 1.58x | 96% | Current |
| The Courtyard of Chapel Hill | Chapel Hill, NC | Mixed use | $7.4M | 3.78% | Jul 2029 | 2.98x | 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.