← Benchmark 2026-V20 Mortgage Trust · Loan annex · CMBS market
- Deal
- Benchmark 2026-V20 Mortgage Trust
- Current balance
- $40.2M (September 2026)
- Share of deal
- 4.5%
- Status
- Current
- DSCR (latest)
- not yet reported
- Occupancy (latest)
- not yet reported
- Scheduled maturity
- 2031-01-06
Property and terms
| Property | Normandy Center |
| Address | 8450 and 8480 Baltimore National Pike 3025 Rogers Ave; Ellicott City, MD 21043 |
| Property type | Mixed use |
| Units, beds or keys | not yet reported |
| Net rentable square feet | 179,500 |
| Year built | 1961 |
| Year last renovated | 2021 |
| Original balance | $40.2M |
| Current balance | $40.2M (September 2026) |
| Share of deal balance | 4.5% |
| Interest rate at origination | 6.54% |
| Current interest rate | 6.54% |
| Origination date | 01-08-2026 |
| Original term | 60 months |
| Amortization term | not yet reported |
| Interest-only period | 60 months |
| Scheduled maturity | 2031-01-06 |
| Prepayment lockout end | 07-05-2030 |
| Yield maintenance end | not yet reported |
| Servicer | not yet reported |
| Loan servicer | not yet reported |
| Originator | Barclays Capital Real Estate Inc. |
| Current status | Current |
| Specially serviced now | No |
| Defeased | No |
Valuation
| Basis | Amount | Date | Source (as filed) |
|---|---|---|---|
| At securitization | $59.7M | 12-05-2025 | MAI |
| Most recent reported | $59.7M | 2025-12-05 | MAI |
Change from securitization to the most recent reported valuation: 0.0%.
Largest tenants
| Tenant | Square feet | Lease expiration |
|---|---|---|
| Planet Fitness | 20,203 | 07-31-2032 |
| Smart Brains Montessori School | 14,850 | 07-31-2027 |
| Normandy, LLC d/b/a Honey Pig I | 12,738 | 09-30-2031 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 2026 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 2026 | $40.2M | Current | 6.54% | 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 |
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.
Sources: SEC Form ABS-EE asset-level reports for the deal. Definitions are in the methods note on the market page.