Office · Denver, Colorado
Yosemite Office
Yosemite Office is financed with a $8.1M CMBS loan at 3.86% that reached maturity on November 6, 2024, 23 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
- $8,069,425
- Original balance (same notes)
- $9,700,000
- Interest rate
- 3.86% fixed
- Originated
- October 11, 2019
- Maturity
- November 6, 2024
- Payments
- Interest only for 30 months, then amortizing
- Prepayment lockout ended
- December 5, 2021
- Prepayment premium ends
- May 5, 2024 (yield maintenance)
- Master servicer
- Wells Fargo Bank, NA
- Originator
- SMC
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred November 14, 2024
- Workout strategy
- TBD
- Modified
- Yes, most recently October 6, 2024
- Defeasance
- Partly defeased
The property
- Address
- 3600 South Yosemite Street, Denver, CO 80237
- Metro
- Denver-Aurora-Centennial, CO
- Rentable area
- 126,436 sq ft
- Built
- 1974, renovated 2009
- Largest tenants
- Advance HOA Management Inc.; Colorado District Attorneys Council; Tschetter Hamrick Sulzer P.C.
- Value at securitization
- $14.3M (Jul 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.12x | 0.84x |
| Occupancy | 88% | 71% |
| Net operating income | $1.2M | $459K |
| Debt yield | 5.7% |
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 Morgan Stanley Capital I Trust 2019-L3 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points 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
- Occupancy has fallen from 88% when the loan was securitized to 71%.
- Net operating income is 60% below the underwritten figure ($459K a year against $1.2M).
- Debt service coverage moved from 2.12x at securitization to 0.84x on the latest statements.
- At 0.84x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $5.9M (December 5, 2025), against $14.3M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.1M | Non performing matured balloon | Yes | 0.84x | 71% |
| August 2026 | $8.1M | Non performing matured balloon | Yes | 2.33x | 69% |
| July 2026 | $8.1M | Non performing matured balloon | Yes | 2.33x | 69% |
| June 2026 | $8.1M | Non performing matured balloon | Yes | 1.47x | 69% |
| May 2026 | $8.1M | Non performing matured balloon | Yes | 1.47x | 69% |
| April 2026 | $8.1M | Non performing matured balloon | Yes | 1.47x | 69% |
| March 2026 | $8.1M | Performing matured balloon | Yes | 2.18x | 71% |
| February 2026 | $8.1M | Performing matured balloon | Yes | 2.18x | 71% |
| January 2026 | $8.1M | Performing matured balloon | Yes | 2.18x | 71% |
| December 2025 | $8.1M | Performing matured balloon | Yes | 2.18x | 71% |
| November 2025 | $8.1M | Performing matured balloon | Yes | 2.12x | 76% |
| October 2025 | $8.2M | Performing matured balloon | Yes | 1.67x | 76% |
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 November 14, 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2019-L3 | 32 | $8,069,425 | Sep 2026 | SEC filing, October 2, 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.