Industrial portfolio, 5 properties · Delano, California
1700 Schuster Road
Public CMBS trusts hold $20.3M of the loan on this portfolio at 6.81% that reaches maturity on April 6, 2028, in 17 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 90+ days delinquent.
The loan
- Balance in tracked trusts
- $20,291,982
- Original balance (same notes)
- $22,000,000
- Interest rate
- 6.81% fixed
- Originated
- March 10, 2023
- Maturity
- April 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- October 5, 2027
- Master servicer
- Wells Fargo Bank
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred February 20, 2026
- Workout strategy
- Foreclosure
- Defeasance
- None reported
The property
- Address
- 1700 Schuster Road, Delano, CA 93215
- Metro
- Bakersfield-Delano, CA
- Value at securitization
- $276.7M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $20.3M | n/a |
Watch flags
Computed from the Benchmark 2023-V2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
On the cmbs.news watch list in every report since April 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.
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| 1700 Schuster Road | Delano, CA | Warehouse | n/a | n/a |
| 101 Michelin Drive | Laurens, SC | Warehouse | n/a | n/a |
| 1525 West 2960 South | Nibley, UT | Industrial | n/a | n/a |
| 5685 Raiders Road, Building B | Frazeysburg, OH | Warehouse | n/a | n/a |
| 840 Complex Street Southwest | Lenoir, NC | Warehouse | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.3M | 90+ days delinquent | Yes | n/a | n/a |
| August 2026 | $20.3M | 90+ days delinquent | Yes | n/a | n/a |
| July 2026 | $20.3M | 90+ days delinquent | Yes | n/a | n/a |
| June 2026 | $20.3M | 90+ days delinquent | Yes | n/a | n/a |
| May 2026 | $20.3M | 60-89 days delinquent | Yes | n/a | n/a |
| April 2026 | $20.3M | 30-59 days delinquent | Yes | 1.76x | 100% |
| March 2026 | $20.3M | Late payment but less than 30 days delinquent | No | 1.76x | 100% |
| February 2026 | $21.4M | Current | No | 1.76x | 100% |
| January 2026 | $21.4M | Current | No | 1.76x | 100% |
| December 2025 | $21.4M | Current | No | 1.76x | 100% |
| November 2025 | $21.4M | Current | No | 1.76x | 100% |
| October 2025 | $21.5M | Current | No | 1.76x | 100% |
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.
Special-servicing history
- Transferred to the special servicer February 20, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2023-V2 Mortgage Trust | 16 | $20,291,982 | Sep 2026 | SEC filing, September 28, 2026 |
Other Bakersfield-Delano loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Shops at Riverwalk & River Walk Corporate Center | Bakersfield, CA | Other | $50.8M | 6.835% | Jun 2028 | 2.01x | 97% | Current |
| Us Storage Centers - Bakersfield | Bakersfield, CA | Self storage | $4.5M | 5.17% | Oct 2028 | 2.78x | 90% | Current |
| The Center on Calloway | Bakersfield, CA | Retail | $4.1M | 5.16% | Apr 2028 | 1.72x | 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.