Office · Washington DC, District of Columbia
Watergate Office Building
Watergate Office Building is financed with a $73.0M CMBS loan at 3.73% that reaches maturity on October 6, 2029, in 2 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
- $73,000,000
- Original balance (same notes)
- $73,000,000
- Interest rate
- 3.73% fixed
- Originated
- September 26, 2019
- Maturity
- October 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2029
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2600 Virginia Avenue NW, Washington DC, DC 20037
- Metro
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Rentable area
- 215,200 sq ft
- Built
- 1967, renovated 2018
- Largest tenants
- National Trust for Historic Preservation; The George Washington Th.rsity; Pan American Health organisation
- Value at securitization
- $105.0M (Aug 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.18x | 1.91x |
| Occupancy | 87% | 100% |
| Net operating income (annualized from 3 months) | $6.0M | $5.4M |
| 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 Benchmark 2019-B14 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Occupancy has risen from 87% when the loan was securitized to 100%.
- Net operating income is 11% below the underwritten figure ($5.4M a year against $6.0M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.18x at securitization to 1.91x on the latest statements.
- The filing gives Dec 2028 as the lease end date for the largest tenant (National Trust for Historic Preservation), 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 | $73.0M | Current | No | 1.91x | 100% |
| August 2026 | $73.0M | Current | No | 1.91x | 100% |
| July 2026 | $73.0M | Current | No | 1.91x | 100% |
| June 2026 | $73.0M | Current | No | 1.91x | 100% |
| May 2026 | $73.0M | Current | No | n/a | n/a |
| April 2026 | $73.0M | Current | No | 2.07x | 100% |
| March 2026 | $73.0M | Current | No | 2.07x | 100% |
| February 2026 | $73.0M | Current | No | 2.07x | 100% |
| January 2026 | $73.0M | Current | No | 2.07x | 100% |
| December 2025 | $73.0M | Current | No | 2.07x | 100% |
| November 2025 | $73.0M | Current | No | 2.12x | 100% |
| October 2025 | $73.0M | Current | No | 2.12x | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2019-B14 Mortgage Trust | 1 | $73,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Washington-Arlington-Alexandria loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Parklawn Building | Rockville, MD | Office | $261.6M | 3.398% | Nov 2029 | 2.79x | 73% | Current |
| 1812 North Moore | Arlington, VA | Office | $172.7M | 7.53% | May 2029 | 0.96x | 99% | Late, less than 30 days |
| Uline Arena | Washington, DC | Mixed use | $120.0M | 4.04% | Aug 2029 | 1.68x | 94% | Current |
| 425 Eye Street | Washington, DC | Office | $102.2M | 1.00% | Jan 2029 | 3.57x | 77% | Current |
| 2001 K Street | Washington, DC | Office | $95.0M | 7.388% | May 2029 | 1.43x | 97% | Current |
| Tysons Corner Center - Office Tower | McLean, VA | Office | $95.0M | 3.33% | Oct 2029 | n/a | n/a | Current |
| Potomac Tower | Arlington, VA | Office | $84.0M | 7.60% | Sep 2029 | 1.66x | 100% | Current |
| Powered Shell Portfolio - Manassas DC-18 | Manassas, VA | Industrial | $83.8M | 3.637% | Jul 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Washington-Arlington-Alexandria 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.