CMBS master and special servicer
KeyBank
The latest distribution reports of 22 public CMBS trusts name KeyBank as their general special servicer. Those trusts hold $19.4B of loans, 3.8% of it with a special servicer. 29 trusts name it master servicer, for $23.9B of loans, 5.8% of it delinquent and 7.6% with a special servicer.
These are trust-level parties. A loan split across several trusts is serviced under one of their agreements, and some loans have a servicer of their own, so the firm a trust names is not always the servicer of a given loan. cmbs.news names a loan's special servicer only where one note in one trust holds the loan whole and that trust's report names exactly one: 15 loans in these trusts meet that rule, and for each cmbs.news names KeyBank.
Special servicing in these trusts
28 loans with a piece in these trusts are with a special servicer in the October 2026 filings. 9 of them moved to special servicing in the 12 months to October 2026, and 7 loans in these trusts went back to the master servicer in that time.
| Workout strategy reported | Loans | Balance in these trusts |
|---|---|---|
| Modification | 6 | $214.9M |
| Other | 6 | $146.5M |
| Foreclosure | 6 | $138.4M |
| TBD | 4 | $62.9M |
| DPO | 1 | $60.0M |
| Full Payoff | 1 | $56.1M |
| REO | 2 | $48.0M |
| None reported | 2 | $16.3M |
The loans with a special servicer
The 25 largest of 28. Open this list in the screener to sort and narrow it. The free screener shows the first 25 rows of a report; Pro shows every row, with a CSV.
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One SoHo Square | New York, NY | Office | $469.0M | 2.725% | Aug 2028 | 1.78x | 86% | With the special servicer |
| Starwood Capital Group Hotel Portfolio | 65 properties | Hotel | $176.3M | 4.486% | Jun 2027 | 1.36x | 65% | With the special servicer |
| U.S. Steel Tower | Pittsburgh, PA | Office | $160.0M | 3.683% | Jun 2026 | 2.51x | 73% | Past maturity and not performing |
| Tryad Industrial & Business Center | Rochester, NY | Industrial | $96.9M | 5.021% | Jan 2028 | -0.03x | 53% | With the special servicer and 90+ days delinquent |
| Regions Tower | Indianapolis, IN | Office | $73.0M | 4.897% | Oct 2023 | 1.60x | 77% | Past maturity and not performing |
| Industry RiNo Station | Denver, CO | Office | $60.0M | 5.205% | Apr 2032 | 0.50x | 50% | With the special servicer and 90+ days delinquent |
| 57 East 11th Street | New York, NY | Office | $55.0M | 4.83% | May 2029 | -0.38x | n/a | With the special servicer and 60-89 days delinquent |
| 110 Allen Road and 2 other properties | Basking Ridge, NJ | Office | $51.7M | 3.65% | Sep 2031 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Knoll Ridge and 2 other properties | Indianapolis, IN | Multifamily | $42.5M | 7.22% | Sep 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
| The Onyx | Houston, TX | Multifamily | $38.0M | 3.934% | Dec 2031 | n/a | n/a | With the special servicer |
| Grant Building | Pittsburgh, PA | Office | $36.3M | 4.70% | Aug 2027 | 1.08x | 71% | With the special servicer and 90+ days delinquent |
| Residence at Patriot Place and 2 other properties | Columbus, GA | Multifamily | $33.0M | 6.751% | Dec 2028 | n/a | n/a | With the special servicer and 90+ days delinquent |
| US Bank Centre | Cleveland, OH | Office | $31.5M | 5.044% | Jan 2029 | 0.94x | 74% | With the special servicer and 90+ days delinquent |
| Valley Creek Corporate Center | Exton, PA | Office | $31.5M | 4.30% | Jun 2027 | 1.18x | 49% | With the special servicer |
| Park at Trowbridge | Southfield, MI | Multifamily | $28.8M | 7.28% | Nov 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
| 236 Atlantic Avenue | Brooklyn, NY | Mixed use | $25.0M | 4.86% | Apr 2028 | 1.08x | 92% | With the special servicer |
| 45 Liberty Boulevard | Malvern, PA | Office | $24.5M | 3.57% | Jan 2032 | 3.29x | 100% | With the special servicer and 90+ days delinquent |
| Woodland Falls | Cherry Hill, NJ | Office | $23.3M | 3.45% | Dec 2029 | 2.44x | 77% | With the special servicer and 90+ days delinquent |
| 754-768 Brady Owners Corp. | Bronx, NY | Other | $15.0M | 3.19% | Apr 2030 | n/a | n/a | With the special servicer |
| One Jackson Place | Jackson, MS | Office | $14.2M | 5.40% | Apr 2027 | 1.49x | 46% | With the special servicer and 90+ days delinquent |
| Del Ray II MHP | Longview, WA | Manufactured housing | $13.0M | 5.806% | Sep 2032 | 1.65x | 100% | With the special servicer and 90+ days delinquent |
| 1 Plaza La Prensa & Sena Plaza | NM | Other | $13.0M | 4.173% | Nov 2029 | 0.89x | 99% | With the special servicer and 90+ days delinquent |
| 249 Legion Avenue | New Haven, CT | Retail | $10.2M | 4.78% | Jan 2029 | -0.14x | 41% | With the special servicer and 90+ days delinquent |
| Kohl's Highland Heights | Highland Heights, OH | Retail | $10.1M | 4.90% | Oct 2024 | 1.69x | 100% | With the special servicer |
| Holiday Inn Kansas City | Kansas City, MO | Hotel | $9.4M | 8.40% | Dec 2033 | n/a | n/a | With the special servicer and 90+ days delinquent |
Balances in this list are whole loans; the totals above count only these trusts' pieces.
Payment status in the trusts it master services
| Status in the October 2026 filings | Loans | Balance in these trusts |
|---|---|---|
| Current | 204 | $8.3B |
| In grace period or not yet due | 4 | $89.5M |
| Late, under 30 days | 20 | $438.6M |
| 30 to 59 days delinquent | 6 | $134.9M |
| 60 to 89 days delinquent | 3 | $33.0M |
| 90 or more days delinquent | 42 | $876.2M |
| Past maturity, still paying | 6 | $164.6M |
| Past maturity, not paying | 8 | $351.9M |
| Not reported | 852 | $13.5B |
Fully defeased loans are left out. A loan split across trusts counts once, at these trusts' pieces of it.
Delinquent, not yet with a special servicer
All 4, largest first. Each trust's page lists every loan it holds, and a CSV of any trust's loans comes with Pro.
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Creekside Village | Mill Creek, WA | Retail | $12.8M | 7.492% | Jan 2034 | 1.47x | 100% | Delinquent |
| 2219 N Hamilton Avenue | Chicago, IL | Multifamily | $11.0M | 6.75% | Aug 2028 | 0.76x | 91% | Delinquent |
| 2046 Mapes Avenue | Bronx, NY | Multifamily | $5.3M | 7.355% | Oct 2028 | 1.34x | 100% | Delinquent |
| Everett Building | Akron, OH | Mixed use | $4.1M | 4.07% | Dec 2031 | 1.41x | 76% | Delinquent |
The 22 trusts that name KeyBank special servicer
Master servicer: Trimont (11)
- BANK5 2026-5YR22
- BANK5 2024-5YR7
- BANK5 2024-5YR12
- BANK5 2023-5YR4
- BANK 2021-BNK35
- GS Mortgage Securities Trust 2020-GC47
- BANK 2020-BNK28
- BANK 2019-BNK23
- BANK 2019-BNK16
- Wells Fargo CMT 2017-C38
- UBS CMT 2017-C7
Master servicer: Midland Loan Services (5)
- BMO 2025-C11 Mortgage Trust
- BMO 2023-C7 Mortgage Trust
- Benchmark 2022-B32 Mortgage Trust
- GS Mortgage Securities Trust 2019-GC39
- Citigroup CMT 2018-C5
Master servicer: KeyBank (3)
Master servicer: Wells Fargo Bank (1)
Master servicer not read yet (2)
The 29 trusts that name KeyBank master servicer
Special servicer: LNR Partners (6)
- BBCMS 2023-C20
- Benchmark 2022-B34 Mortgage Trust
- Morgan Stanley Capital I Trust 2021-L5
- BBCMS Mortgage Trust 2021-C12
- Benchmark 2018-B7 Mortgage Trust
- CSAIL 2017-CX10 CMT
Special servicer: Argentic Services Company (5)
- BBCMS Mortgage Trust 2024-C24
- BBCMS Mortgage Trust 2024-5C29
- BBCMS Mortgage Trust 2022-C17
- Benchmark 2021-B26 Mortgage Trust
- Benchmark 2019-B10 Mortgage Trust
Special servicer: CWCapital Asset Management (4)
- BBCMS Mortgage Trust 2025-5C33
- BMO 2023-5C2 Mortgage Trust
- BMO 2022-C1 Mortgage Trust
- BENCHMARK 2018-B2 Mortgage Trust
Special servicer: Rialto Capital Advisors (4)
- BMO 2026-C15 Mortgage Trust
- BBCMS Mortgage Trust 2021-C10
- CD 2018-CD7 Mortgage Trust
- CSAIL 2017-CX9 CMT
Special servicer: KeyBank (3)
Special servicer: K-Star Asset Management (2)
Special servicer: Torchlight Loan Services (1)
Special servicer not read yet (4)
- BMO 2024-C10 Mortgage Trust
- BMO 2023-5C1 Mortgage Trust
- CF 2019-CF2 Mortgage Trust
- CF 2019-CF1 Mortgage Trust
Servicer names are as each trust's latest Form 10-D distribution report prints them, filed October 22, 2026 to November 2, 2026, with a firm's spellings grouped; each trust's page links its report. Loan figures are from the trusts' ABS-EE filings for October 2026. Trusts whose servicers cmbs.news does not read yet are not counted here; the servicers page lists them with every firm the trusts name.
Following these trusts?
Pro shows every row of every list, with a CSV. Save the specially serviced loans in these trusts as a screen and get an email, usually the morning after a filing lands, when one of them changes.