Office · Richmond, Virginia
Westerre I and II
Westerre I and II is financed with a $14.4M CMBS loan at 4.36% that reaches maturity on September 1, 2027, in 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $14,409,997
- Original balance (same notes)
- $17,400,000
- Interest rate
- 4.36% fixed
- Originated
- August 29, 2017
- Maturity
- September 1, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- September 30, 2019
- Prepayment premium ends
- May 31, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Principal Commercial Capital
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 3951 and 3957 Westerre Parkway, Richmond, VA 23233
- Metro
- Richmond, VA
- Rentable area
- 163,261 sq ft
- Built
- 1988
- Largest tenants
- Tridium Inc.; DC SPORTS; Stiles Ewing Powers
- Value at securitization
- $23.3M (Jun 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.84x | 1.37x |
| Occupancy | 91% | 80% |
| Net operating income (annualized from 6 months) | $1.9M | $1.4M |
| Debt yield | 10.0% |
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 2017-P8 filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Matures within 12 months
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 91% when the loan was securitized to 80%.
- Net operating income is 25% below the underwritten figure ($1.4M a year against $1.9M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.84x at securitization to 1.37x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.4M | Current | No | 1.37x | 80% |
| August 2026 | $14.4M | Current | No | 0.82x | 85% |
| July 2026 | $14.5M | Current | No | 0.82x | 85% |
| June 2026 | $14.5M | Current | No | 1.71x | 84% |
| May 2026 | $14.5M | Current | No | 1.71x | 84% |
| April 2026 | $14.6M | Current | No | 1.71x | 84% |
| March 2026 | $14.6M | Current | No | 1.83x | 87% |
| February 2026 | $14.6M | Current | No | 1.83x | 87% |
| January 2026 | $14.7M | Current | No | 1.66x | 87% |
| December 2025 | $14.7M | Current | No | 1.66x | 87% |
| November 2025 | $14.7M | Current | No | 1.66x | 87% |
| October 2025 | $14.8M | Current | No | 1.66x | 87% |
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 |
|---|---|---|---|---|
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2017-P8 | 24 | $14,409,997 | Sep 2026 | SEC filing, September 30, 2026 |
Other Richmond loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Gateway Plaza, Richmond | Richmond, VA | Office | $40.0M | 5.921% | Jul 2027 | 3.05x | 96% | Current |
| Richmond Marriott Short Pump | Glen Allen, VA | Hotel | $20.7M | 4.49% | Apr 2027 | 2.04x | 69% | Current |
| Richmond Mixed-Use Portfolio | Richmond, VA | Mixed use | $3.9M | 4.69% | Feb 2027 | 2.15x | 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.