← Benchmark 2020-B19 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2020-B19 Mortgage Trust
- Current balance
- $37.3M (September 2026)
- Share of deal
- 4.1%
- Status
- Real estate owned (REO)
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2025-09-06
Property and terms
| Property | Bridgewater Place |
| Address | 333 NW Bridge St. 1110; Grand Rapids, MI 49504 |
| Property type | Office |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 353,356 |
| Year built | 1991 |
| Year last renovated | not yet reported |
| Original balance | $37.3M |
| Current balance | $37.3M (September 2026) |
| Share of deal balance | 4.1% |
| Interest rate at origination | 3.89% |
| Current interest rate | 3.89% |
| Origination date | 08-31-2020 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2025-09-06 |
| Prepayment lockout end | 10-05-2021 |
| Yield maintenance end | 04-05-2025 |
| Servicer | Midland Loan Services |
| Loan servicer | not yet reported |
| Originator | DBR Investments Co. Limited |
| Current status | Real estate owned (REO) |
| Specially serviced now | Yes |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $63.6M | 07-09-2020 | MAI |
| Most recent reported | $38.0M | 2026-05-01 | MAI |
Change from securitization to the most recent reported valuation: -40.3%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Varnum LLP | 71,894 | 08-31-2033 |
| JD General Agency LLC (Northwester | 26,534 | 12-31-2033 |
| Configura, Inc | 15,928 | 12-31-2030 |
The three largest tenants as reported in the latest asset-level record.
Monthly history
| Month | Balance | Status | Rate | DSCR (NCF) | DSCR (NOI) | Occupancy | Advances | Financial period end | Revenue | Expenses | NOI | NCF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 2020 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| October 2020 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| November 2020 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| December 2020 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| January 2021 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| February 2021 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| March 2021 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| April 2021 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| May 2021 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2021 | $37.3M | Current | 3.89% | 2.54 | 2.96 | 90% | $0 | 03-31-2021 | $1.8M | $685,719 | $1.1M | $934,763 |
| July 2021 | $37.3M | Current | 3.89% | 2.54 | 2.96 | 90% | $0 | 03-31-2021 | $1.8M | $685,719 | $1.1M | $934,763 |
| August 2021 | $37.3M | Current | 3.89% | 2.58 | 3.00 | 90% | $0 | 06-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| September 2021 | $37.3M | Current | 3.89% | 2.58 | 3.00 | 90% | $0 | 06-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| October 2021 | $37.3M | Current | 3.89% | 2.58 | 3.00 | 90% | $0 | 06-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| November 2021 | $37.3M | Current | 3.89% | 2.58 | 3.00 | 90% | $0 | 06-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| December 2021 | $37.3M | Current | 3.89% | 2.58 | 3.00 | 90% | $0 | 06-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| January 2022 | $37.3M | Current | 3.89% | 2.56 | 2.98 | 90% | $0 | 09-30-2021 | $7.2M | $2.8M | $4.4M | $3.8M |
| February 2022 | $37.3M | Current | 3.89% | 2.52 | 2.94 | 85% | $0 | 12-31-2021 | $7.2M | $2.9M | $4.3M | $3.7M |
| March 2022 | $37.3M | Current | 3.89% | 2.52 | 2.94 | 85% | $0 | 12-31-2021 | $7.2M | $2.9M | $4.3M | $3.7M |
| April 2022 | $37.3M | Current | 3.89% | 2.52 | 2.94 | 85% | $0 | 12-31-2021 | $7.2M | $2.9M | $4.3M | $3.7M |
| May 2022 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2022 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2022 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2022 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2022 | $37.3M | Current | 3.89% | 2.43 | 2.85 | 87% | $0 | 06-30-2022 | $7.1M | $3.0M | $4.2M | $3.6M |
| October 2022 | $37.3M | Matured balloon, non-performing | 3.89% | 2.43 | 2.85 | 87% | $0 | 06-30-2022 | $7.1M | $3.0M | $4.2M | $3.6M |
| November 2022 | $37.3M | Matured balloon, non-performing | 3.89% | 2.31 | 2.73 | 87% | $124,764 | 09-30-2022 | $7.1M | $3.1M | $4.0M | $3.4M |
| December 2022 | $37.3M | Current | 3.89% | 2.31 | 2.73 | 87% | $0 | 09-30-2022 | $7.1M | $3.1M | $4.0M | $3.4M |
| January 2023 | $37.3M | Current | 3.89% | 2.31 | 2.73 | 87% | $0 | 09-30-2022 | $7.1M | $3.1M | $4.0M | $3.4M |
| February 2023 | $37.3M | Current | 3.89% | 2.28 | 2.70 | 90% | $0 | 12-31-2022 | $7.2M | $3.2M | $4.0M | $3.3M |
| March 2023 | $37.3M | Current | 3.89% | 2.28 | 2.70 | 90% | $0 | 12-31-2022 | $7.2M | $3.2M | $4.0M | $3.3M |
| April 2023 | $37.3M | Current | 3.89% | 2.28 | 2.70 | 90% | $0 | 12-31-2022 | $7.2M | $3.2M | $4.0M | $3.3M |
| May 2023 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2023 | $37.3M | Current | 3.89% | 2.25 | 2.67 | 90% | $0 | 03-31-2023 | $7.2M | $3.3M | $3.9M | $3.3M |
| July 2023 | $37.3M | Current | 3.89% | 2.25 | 2.67 | 90% | $0 | 03-31-2023 | $7.2M | $3.3M | $3.9M | $3.3M |
| August 2023 | $37.3M | Current | 3.89% | 2.19 | 2.61 | 89% | $0 | 06-30-2023 | $7.2M | $3.3M | $3.8M | $3.2M |
| September 2023 | $37.3M | Current | 3.89% | 2.19 | 2.61 | 89% | $0 | 06-30-2023 | $7.2M | $3.3M | $3.8M | $3.2M |
| October 2023 | $37.3M | Current | 3.89% | 2.19 | 2.61 | 89% | $0 | 06-30-2023 | $7.2M | $3.3M | $3.8M | $3.2M |
| November 2023 | $37.3M | Current | 3.89% | 2.19 | 2.61 | 84% | $0 | 06-30-2023 | $7.2M | $3.3M | $3.8M | $3.2M |
| December 2023 | $37.3M | Current | 3.89% | 2.09 | 2.51 | 84% | $0 | 09-30-2023 | $7.0M | $3.3M | $3.7M | $3.1M |
| January 2024 | $37.3M | Current | 3.89% | 2.09 | 2.51 | 84% | $0 | 09-30-2023 | $7.0M | $3.3M | $3.7M | $3.1M |
| February 2024 | $37.3M | Matured balloon, non-performing | 3.89% | 2.09 | 2.51 | 91% | $124,764 | 09-30-2023 | $7.0M | $3.3M | $3.7M | $3.1M |
| March 2024 | $37.3M | 30-59 days delinquent | 3.89% | 2.15 | 2.57 | 91% | $241,479 | 12-31-2023 | $7.1M | $3.3M | $3.8M | $3.2M |
| April 2024 | $37.3M | Current | 3.89% | 2.15 | 2.57 | 91% | $0 | 12-31-2023 | $7.1M | $3.3M | $3.8M | $3.2M |
| May 2024 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2024 | $37.3M | Current | 3.89% | 2.01 | 2.43 | 73% | $0 | 03-31-2024 | $6.9M | $3.3M | $3.6M | $3.0M |
| July 2024 | $37.3M | Current | 3.89% | 2.01 | 2.43 | 73% | $0 | 03-31-2024 | $6.9M | $3.3M | $3.6M | $3.0M |
| August 2024 | $37.3M | Current | 3.89% | 2.01 | 2.43 | 73% | $0 | 03-31-2024 | $6.9M | $3.3M | $3.6M | $3.0M |
| September 2024 | $37.3M | Current | 3.89% | 1.75 | 2.17 | 73% | $0 | 06-30-2024 | $6.5M | $3.3M | $3.2M | $2.6M |
| October 2024 | $37.3M | Matured balloon, non-performing | 3.89% | 1.75 | 2.17 | 73% | $120,739 | 06-30-2024 | $6.5M | $3.3M | $3.2M | $2.6M |
| November 2024 | $37.3M | Matured balloon, non-performing | 3.89% | 1.75 | 2.17 | 73% | $124,764 | 06-30-2024 | $6.5M | $3.3M | $3.2M | $2.6M |
| December 2024 | $37.3M | Matured balloon, non-performing | 3.89% | 1.75 | 2.17 | 73% | $120,739 | 06-30-2024 | $6.5M | $3.3M | $3.2M | $2.6M |
| January 2025 | $37.3M | Matured balloon, non-performing | 3.89% | 1.75 | 2.17 | 73% | $124,764 | 06-30-2024 | $6.5M | $3.3M | $3.2M | $2.6M |
| February 2025 | $37.3M | Current | 3.89% | 1.50 | 1.93 | 71% | $0 | 09-30-2024 | $6.1M | $3.2M | $2.8M | $2.2M |
| March 2025 | $37.3M | Current | 3.89% | 1.50 | 1.93 | 71% | $0 | 09-30-2024 | $6.1M | $3.2M | $2.8M | $2.2M |
| April 2025 | $37.3M | Current | 3.89% | 1.46 | 1.88 | 71% | $0 | 12-31-2024 | $6.1M | $3.4M | $2.8M | $2.2M |
| May 2025 | $37.3M | Current | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2025 | $37.3M | Matured balloon, non-performing | 3.89% | not yet reported | not yet reported | not yet reported | $124,764 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2025 | $37.3M | Matured balloon, non-performing | 3.89% | not yet reported | not yet reported | not yet reported | $120,739 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2025 | $37.3M | 30-59 days delinquent | 3.89% | 1.29 | 1.71 | 70% | $245,503 | 03-31-2025 | $1.5M | $917,375 | $630,340 | $475,748 |
| September 2025 | $37.3M | Real estate owned (REO) | 3.89% | 1.29 | 1.71 | 70% | $370,267 | 03-31-2025 | $1.5M | $917,375 | $630,340 | $475,748 |
| October 2025 | $37.3M | Real estate owned (REO) | 3.89% | 1.29 | 1.71 | 70% | $245,288 | 03-31-2025 | $1.5M | $917,375 | $630,340 | $475,748 |
| November 2025 | $37.3M | Real estate owned (REO) | 3.89% | -0.90 | -0.47 | 70% | $369,829 | 06-30-2025 | $796,149 | $1.5M | $-688,332 | $-1.3M |
| December 2025 | $37.3M | Real estate owned (REO) | 3.89% | -0.90 | -0.47 | 70% | $490,353 | 06-30-2025 | $796,149 | $1.5M | $-688,332 | $-1.3M |
| January 2026 | $37.3M | Real estate owned (REO) | 3.89% | -0.90 | -0.47 | 70% | $614,894 | 06-30-2025 | $796,149 | $1.5M | $-688,332 | $-1.3M |
| February 2026 | $37.3M | Real estate owned (REO) | 3.89% | -0.13 | 0.29 | 70% | $739,435 | 09-30-2025 | $2.6M | $2.1M | $431,269 | $-187,099 |
| March 2026 | $37.3M | Real estate owned (REO) | 3.89% | -0.13 | 0.29 | 70% | $851,924 | 09-30-2025 | $2.6M | $2.1M | $431,269 | $-187,099 |
| April 2026 | $37.3M | Real estate owned (REO) | 3.89% | -0.13 | 0.29 | 70% | $976,465 | 09-30-2025 | $2.6M | $2.1M | $431,269 | $-187,099 |
| May 2026 | $37.3M | Foreclosure | 3.89% | not yet reported | not yet reported | not yet reported | $0 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| June 2026 | $37.3M | Real estate owned (REO) | 3.89% | not yet reported | not yet reported | not yet reported | $117,536 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| July 2026 | $37.3M | Real estate owned (REO) | 3.89% | not yet reported | not yet reported | not yet reported | $231,280 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| August 2026 | $37.3M | Real estate owned (REO) | 3.89% | not yet reported | not yet reported | not yet reported | $348,815 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
| September 2026 | $37.3M | Real estate owned (REO) | 3.89% | not yet reported | not yet reported | not yet reported | $466,351 | not yet reported | not yet reported | not yet reported | not yet reported | not yet reported |
Revenue, expenses, net operating income (NOI) and net cash flow (NCF) are the most recent financials reported as of each month, for the financial period ending on the date shown. DSCR is debt service coverage on the net cash flow and net operating income bases as reported.
Status timeline
| Date | Event |
|---|---|
| March 2024 | First reported 30 or more days delinquent |
| 2024-09-12 | Transferred to the special servicer |
| 2025-09-06 | Scheduled maturity passed; the loan is still reported, with status Real estate owned (REO) in September 2026 |
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.