Office · Provo, Utah
Zions Bank
Zions Bank is financed with a $13.6M CMBS loan at 3.20% that reaches maturity on September 11, 2031, in 4 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $13,550,000
- Original balance (same notes)
- $13,550,000
- Interest rate
- 3.20% fixed
- Originated
- September 1, 2021
- Maturity
- September 11, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 10, 2031
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 180 North University Avenue, Provo, UT 84601
- Metro
- Provo-Orem-Lehi, UT
- Rentable area
- 89,380 sq ft
- Built
- 2009
- Largest tenants
- RGN-Provo I LLC; Blue Diamond Capital LLC; Alcomy Inc.
- Value at securitization
- $22.9M (Jun 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 3.41x | -1.35x |
| Occupancy | 100% | 45% |
| Net operating income (annualized from 3 months) | $1.5M | $-593K |
| Debt yield | -4.4% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BANK 2021-BNK36 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 2026.
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 45%.
- Net operating income is 140% below the underwritten figure ($-593K a year against $1.5M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 3.41x at securitization to -1.35x on the latest statements.
- At -1.35x, the property's reported NOI does not cover its debt service.
- The filing gives Mar 2028 as the lease end date for the largest tenant (RGN-Provo I LLC), 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 | $13.6M | Late payment but less than 30 days delinquent | No | -1.35x | 45% |
| August 2026 | $13.6M | Current | No | -1.35x | 45% |
| July 2026 | $13.6M | Late payment but less than 30 days delinquent | No | -1.35x | 45% |
| June 2026 | $13.6M | Late payment but less than 30 days delinquent | No | 1.82x | 45% |
| May 2026 | $13.6M | Late payment but less than 30 days delinquent | No | 1.82x | 45% |
| April 2026 | $13.6M | Current | No | 1.92x | 62% |
| March 2026 | $13.6M | Late payment but less than 30 days delinquent | No | 1.92x | 62% |
| February 2026 | $13.6M | Late payment but less than 30 days delinquent | No | 1.92x | 62% |
| January 2026 | $13.6M | Current | No | 1.92x | 62% |
| December 2025 | $13.6M | Current | No | 2.53x | 83% |
| November 2025 | $13.6M | Current | No | 2.53x | 83% |
| October 2025 | $13.6M | Current | No | 2.53x | 83% |
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 |
|---|---|---|---|---|
| BANK 2021-BNK36 | 24 | $13,550,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Provo-Orem-Lehi loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Courtside Apartments | Orem, UT | Multifamily | $26.7M | 3.99% | Dec 2031 | 1.88x | 100% | Current |
| Urban Grove | Pleasant Grove, UT | Office | $16.0M | 3.575% | Jul 2031 | 2.72x | 100% | Current |
| Lindon Self Storage | Lindon, UT | Self storage | $3.7M | 3.744% | Oct 2031 | 5.04x | 92% | 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.