Retail · Tumwater, Washington
Walgreens Tumwater
Walgreens Tumwater is financed with a $5.3M CMBS loan at 3.61% that reaches maturity on October 1, 2030, in 3 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,265,000
- Original balance (same notes)
- $5,265,000
- Interest rate
- 3.61% fixed
- Originated
- September 24, 2020
- Maturity
- October 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 30, 2030
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred September 26, 2024, returned August 26, 2026
- Workout strategy
- Pending return to master servicer
- Modified
- Yes, most recently June 30, 2026
- Defeasance
- None reported
The property
- Address
- 702 Trosper Road Southwest, Tumwater, WA 98512
- Metro
- Olympia-Lacey-Tumwater, WA
- Rentable area
- 14,418 sq ft
- Built
- 2011
- Largest tenants
- Walgreens
- Value at securitization
- $8.3M (Aug 2020)
Performance
| At securitization | Latest (Sep 2024) | |
|---|---|---|
| DSCR (NOI) | 2.47x | 1.99x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 9 months) | $476K | $382K |
| Debt yield | 7.3% |
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 2020-BNK29 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- Modified
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 20% below the underwritten figure ($382K a year against $476K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 2.47x at securitization to 1.99x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.3M | Current | No | 1.99x | 100% |
| August 2026 | $5.3M | 30-59 days delinquent | Yes | 1.99x | 100% |
| July 2026 | $5.3M | Late payment but less than 30 days delinquent | Yes | 1.99x | 100% |
| June 2026 | $5.3M | 30-59 days delinquent | Yes | 1.99x | 100% |
| May 2026 | $5.3M | 30-59 days delinquent | Yes | 1.99x | 100% |
| April 2026 | $5.3M | Late payment but less than 30 days delinquent | Yes | 1.99x | 100% |
| March 2026 | $5.3M | Late payment but less than 30 days delinquent | Yes | 1.99x | 100% |
| February 2026 | $5.3M | Current | Yes | 1.99x | 100% |
| January 2026 | $5.3M | Current | Yes | 1.99x | 100% |
| December 2025 | $5.3M | Current | Yes | 1.99x | 100% |
| November 2025 | $5.3M | Current | Yes | 1.99x | 100% |
| October 2025 | $5.3M | Late payment but less than 30 days delinquent | Yes | 1.99x | 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 September 26, 2024, returned to the master servicer August 26, 2026.
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 |
|---|---|---|---|---|
| BANK 2020-BNK29 | 32 | $5,265,000 | Sep 2026 | SEC filing, October 1, 2026 |
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.