Office · Canonsburg, Pennsylvania
Zenith Ridge
Public CMBS trusts hold $85.7M of the loan on Zenith Ridge at 4.70% that reaches maturity on August 6, 2028, in 21 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $85,669,823
- Original balance (same notes)
- $90,000,000
- Interest rate
- 4.70% fixed
- Originated
- July 13, 2018
- Maturity
- August 6, 2028
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- May 5, 2028
- Master servicer
- KeyBank
- Originator
- SMC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2200 Energy Drive, Canonsburg, PA 15317
- Metro
- Pittsburgh, PA
- Rentable area
- 486,000 sq ft
- Built
- 2014
- Largest tenants
- Bldg Ansys, Inc; RGN-Canonsburg, LLC (Regus); Producers Supply Company
- Value at securitization
- $133.1M (Jun 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.68x | 1.46x |
| Occupancy | 100% | 70% |
| Net operating income | $9.4M | $8.2M |
| Debt yield | 9.6% |
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 BBCMS Mortgage Trust 2018-C2 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 fallen from 100% when the loan was securitized to 70%.
- Net operating income is 13% below the underwritten figure ($8.2M a year against $9.4M).
- Debt service coverage moved from 1.68x at securitization to 1.46x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $85.7M | Current | No | 1.46x | 79% |
| August 2026 | $85.8M | Current | No | 1.46x | 79% |
| July 2026 | $85.9M | Current | No | 1.46x | 79% |
| June 2026 | $86.0M | Current | No | 1.46x | 79% |
| May 2026 | $86.2M | Current | No | 1.50x | 91% |
| April 2026 | $86.3M | Current | No | 1.50x | 91% |
| March 2026 | $86.4M | Current | No | 1.52x | 91% |
| February 2026 | $86.6M | Current | No | 1.52x | 91% |
| January 2026 | $86.7M | Current | No | 1.52x | 91% |
| December 2025 | $86.8M | Current | No | 1.52x | 91% |
| November 2025 | $86.9M | Current | No | 1.47x | 91% |
| October 2025 | $87.0M | Current | No | 1.50x | 91% |
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
The loan is split into 5 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CD 2018-CD7 Mortgage Trust | 5 | $33,316,042 | Sep 2026 | SEC filing, October 1, 2026 |
| Morgan Stanley Capital I Trust 2018-L1 | 12 | $28,556,608 | Sep 2026 | SEC filing, October 2, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 14 | $9,518,869 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 14A | $9,518,869 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2018-C2 | 14B | $4,759,435 | Sep 2026 | SEC filing, September 29, 2026 |
Other Pittsburgh loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Parkway Center | Pittsburgh, PA | Office | $40.5M | 5.10% | Jun 2028 | 0.30x | n/a | With the special servicer and 90+ days delinquent |
| Great Southern Shopping Center | Bridgeville, PA | Retail | $33.8M | 5.19% | Aug 2028 | 1.28x | 94% | Current |
| 920 Irwin Run Road | West Mifflin, PA | Industrial | $31.9M | 3.772% | May 2028 | n/a | n/a | Current |
| Southland Shopping Center | Pittsburgh, PA | Retail | $31.7M | 4.925% | May 2028 | 1.55x | 90% | Current |
| Whole Foods Pittsburgh | Upper St. Clair, PA | Retail | $15.0M | 4.765% | Apr 2028 | 1.41x | 100% | Current |
| Manor Parking Garage | Pittsburgh, PA | Other | $12.4M | 5.99% | Oct 2028 | 1.22x | 100% | Current |
| Aria Cultural District Lofts | Pittsburgh, PA | Mixed use | $7.8M | 7.08% | Nov 2028 | n/a | n/a | Current |
| 2201 Park Manor Boulevard | Pittsburgh, PA | Office | $3.8M | 5.114% | Oct 2028 | 3.49x | 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.