Office · Palo Alto, California
435 Tasso Street
435 Tasso Street is financed with a $30.0M CMBS loan at 4.402% that reaches maturity on December 6, 2028, in 2 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $30,000,000
- Original balance (same notes)
- $30,000,000
- Interest rate
- 4.402% fixed
- Originated
- December 4, 2018
- Maturity
- December 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- June 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 435 Tasso Street, Palo Alto, CA 94301
- Metro
- San Jose-Sunnyvale-Santa Clara, CA
- Rentable area
- 34,873 sq ft
- Built
- 1984
- Largest tenants
- East West Bank; GenBio.ai Inc; Kylli Inc
- Value at securitization
- $67.9M (Nov 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.66x | 1.02x |
| Occupancy | 100% | 73% |
| Net operating income (annualized from 3 months) | $3.6M | $1.4M |
| Debt yield | 4.6% |
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 UBS Commercial Mortgage Trust 2018-C15 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
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 73%.
- Net operating income is 61% below the underwritten figure ($1.4M a year against $3.6M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.66x at securitization to 1.02x on the latest statements.
- The filing gives Feb 2028 as the lease end date for the largest tenant (East West Bank), 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 | $30.0M | Current | No | 1.02x | 73% |
| August 2026 | $30.0M | Current | No | 1.02x | 73% |
| July 2026 | $30.0M | Current | No | n/a | n/a |
| June 2026 | $30.0M | Current | No | n/a | n/a |
| May 2026 | $30.0M | Current | No | n/a | n/a |
| April 2026 | $30.0M | Current | No | 1.58x | 73% |
| March 2026 | $30.0M | Current | No | 1.58x | 73% |
| February 2026 | $30.0M | Current | No | 1.58x | 73% |
| January 2026 | $30.0M | Current | No | 1.11x | 73% |
| December 2025 | $30.0M | Current | No | 1.09x | 62% |
| November 2025 | $30.0M | Current | No | 1.13x | 62% |
| October 2025 | $30.0M | Current | No | 1.13x | 62% |
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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2018-C15 | 6 | $30,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other San Jose-Sunnyvale-Santa Clara loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Apple Campus 3, Sunnyvale (2028 maturity), loan 1 in BANK 2018-BNK10 | Sunnyvale, CA | Office | $310.0M | 3.365% | Jan 2028 | 3.78x | 100% | Current |
| Moffett Towers - Buildings E,f,g | Sunnyvale, CA | Office | $284.0M | 4.131% | Oct 2028 | 3.51x | 100% | Current |
| Moffett Towers II - Building 1 | Sunnyvale, CA | Office | $158.6M | 3.894% | Apr 2028 | 2.23x | 100% | Current |
| 1001 North Shoreline Boulevard | Mountain View, CA | Office | $64.5M | 3.465% | Apr 2028 | 3.61x | 100% | Current |
| 3495 Deer Creek Road | Palo Alto, CA | Office | $50.0M | 4.955% | Apr 2028 | 2.69x | 100% | Current |
| 590 Middlefield | Mountain View, CA | Office | $48.8M | 5.369% | Dec 2028 | 1.40x | 100% | Current |
| 601 Mccarthy | Milpitas, CA | Office | $30.7M | 4.172% | Sep 2028 | 4.69x | 100% | Current |
| Apple Campus 3, Sunnyvale (2028 maturity), loan 7 in Wells Fargo Commercial Mortgage Trust 2018-C43 | Sunnyvale, CA | Office | $30.0M | 3.365% | Jan 2028 | 3.78x | 100% | Current |
All loans maturing in 2028 · All San Jose-Sunnyvale-Santa Clara 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.