Mixed use · San Francisco, California
2415 Mission Street
2415 Mission Street is financed with a $9.3M CMBS loan at 5.42% that reaches maturity on August 6, 2028, in 21 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
- $9,350,000
- Original balance (same notes)
- $9,350,000
- Interest rate
- 5.42% fixed
- Originated
- July 20, 2018
- Maturity
- August 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- May 5, 2028
- Master servicer
- Trimont LLC
- Originator
- BSPRT CMBS Finance, LLC
Status
- Payment status
- 90+ days delinquent (code 3)
- Special servicing
- Transferred July 17, 2020
- Workout strategy
- REO
- Advancing
- The servicer has stopped advancing on this loan (non-recoverable)
- Defeasance
- None reported
The property
- Address
- 2415 Mission Street, San Francisco, CA 94110
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 32,525 sq ft
- Built
- 1907, renovated 2018
- Largest tenants
- LAUNDRE LLC; ASCEND BODY; DOCS CLOCKS
- Value at securitization
- $14.4M (May 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.56x | 0.64x |
| Occupancy | 100% | 89% |
| Net operating income (annualized from 3 months) | $803K | $339K |
| Debt yield | 3.6% |
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 Wells Fargo Commercial Mortgage Trust 2018-C46 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- 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
- Servicer stopped advancing
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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 89%.
- Net operating income is 58% below the underwritten figure ($339K a year against $803K; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.56x at securitization to 0.64x on the latest statements.
- At 0.64x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $7.9M (June 5, 2026), against $14.4M at securitization.
- The filing gives May 2021 as the lease end date for the largest tenant (LAUNDRE 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 | $9.3M | 90+ days delinquent | Yes | 0.64x | 89% |
| August 2026 | $9.3M | 90+ days delinquent | Yes | 0.64x | 89% |
| July 2026 | $9.3M | 90+ days delinquent | Yes | 0.64x | 89% |
| June 2026 | $9.3M | 90+ days delinquent | Yes | 0.64x | 89% |
| May 2026 | $9.3M | 90+ days delinquent | Yes | 0.15x | 55% |
| April 2026 | $9.3M | 90+ days delinquent | Yes | 0.15x | 55% |
| March 2026 | $9.3M | 90+ days delinquent | Yes | 0.15x | 55% |
| February 2026 | $9.3M | 90+ days delinquent | Yes | 0.15x | 55% |
| January 2026 | $9.3M | 90+ days delinquent | Yes | 0.15x | 55% |
| December 2025 | $9.3M | 90+ days delinquent | Yes | -0.28x | 45% |
| November 2025 | $9.3M | 90+ days delinquent | Yes | -0.28x | 45% |
| October 2025 | $9.3M | 90+ days delinquent | Yes | -0.28x | 45% |
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 July 17, 2020, 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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2018-C46 | 32 | $9,350,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 181 Fremont Street | San Francisco, CA | Office | $250.0M | 3.709% | Apr 2028 | 3.52x | 100% | Current |
| The Gateway | San Francisco, CA | Multifamily | $210.0M | 3.722% | Apr 2028 | 2.91x | 95% | Current |
| Charles Schwab Plaza | San Francisco, CA | Office | $119.4M | 3.555% | Apr 2028 | 2.02x | 100% | Current |
| Pier 70 | San Francisco, CA | Mixed use | $115.0M | 4.878% | Oct 2028 | 3.03x | 100% | Current |
| InterContinental San Francisco | San Francisco, CA | Hotel | $91.4M | 4.145% | Jan 2028 | 0.54x | 65% | Current |
| City Square and Clay Street | Oakland, CA | Mixed use | $90.0M | 4.728% | Feb 2028 | 0.81x | 54% | Current |
| Lake Merritt Plaza | Oakland, CA | Office | $80.0M | 8.012% | Nov 2028 | 1.57x | 75% | Current |
| 400 South El Camino Real | San Mateo, CA | Office | $67.7M | 4.697% | Dec 2028 | 1.48x | 99% | Current |
All loans maturing in 2028 · All San Francisco-Oakland-Fremont loans
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.