Industrial · San Francisco, California
800 Cesar Chavez
Public CMBS trusts hold $38.0M of the loan on 800 Cesar Chavez at 4.11% that reaches maturity on March 5, 2032, in 5 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $38,000,000
- Original balance (same notes)
- $38,000,000
- Interest rate
- 4.11% fixed
- Originated
- February 22, 2022
- Maturity
- March 5, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 4, 2031
- Master servicer
- Midland Loan Services
- Originator
- 3650 Real Estate Investment Trust 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 630 and 640-800 Cesar Chavez, San Francisco, CA 94124
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 122,360 sq ft
- Built
- 1953, renovated 2022
- Largest tenants
- West East
- Value at securitization
- $70.7M (Mar 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.00x | 2.00x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $3.2M | $6.4M |
| Debt yield | 16.8% |
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 BMO 2023-C5 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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
- Net operating income is 101% above the underwritten figure ($6.4M a year against $3.2M; the latest statement covers 6 months, annualized).
- The filing gives Nov 2030 as the lease end date for the largest tenant (West East), 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 | $38.0M | Current | No | 2.00x | 100% |
| August 2026 | $38.0M | Current | No | 2.00x | 100% |
| July 2026 | $38.0M | Current | No | n/a | n/a |
| June 2026 | $38.0M | Current | No | n/a | n/a |
| May 2026 | $38.0M | Current | No | n/a | n/a |
| April 2026 | $38.0M | Current | No | 2.02x | 100% |
| March 2026 | $38.0M | Current | No | 2.04x | 100% |
| February 2026 | $38.0M | Current | No | 2.04x | 100% |
| January 2026 | $38.0M | Current | No | 2.04x | 100% |
| December 2025 | $38.0M | Current | No | 2.04x | 100% |
| November 2025 | $38.0M | Current | No | 2.04x | 100% |
| October 2025 | $38.0M | Current | No | n/a | n/a |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2023-C4 Mortgage Trust | 26 | $15,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| 3650R 2022-PF2 Commercial Mortgage Trust | 23 | $13,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BMO 2023-C5 Mortgage Trust | 23 | $10,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| The Lion Building | San Francisco, CA | Mixed use | $100.0M | 5.197% | Jul 2032 | 2.21x | 100% | Current |
| Artthaus Studios | Oakland, CA | Office | $23.8M | 3.859% | Feb 2032 | 1.95x | 92% | Current |
| 530 Bush Street | San Francisco, CA | Office | $19.5M | 3.809% | Feb 2032 | -0.37x | 41% | Current |
| 640 2nd Street | San Francisco, CA | Office | $14.2M | 3.887% | Apr 2032 | 4.07x | 100% | Current |
| Sunol Center-Ca | Pleasanton, CA | Office | $14.2M | 3.78% | Aug 2032 | 2.85x | 100% | Current |
| Industrial Center Building - Art Studios | Sausalito, CA | Industrial | $12.8M | 4.939% | Jun 2032 | 3.20x | 100% | Current |
| Amoeba Music | San Francisco, CA | Retail | $11.3M | 4.82% | Apr 2032 | 1.97x | 100% | Current |
| Hayward Storage | Hayward, CA | Self storage | $7.7M | 4.57% | Apr 2032 | 2.42x | 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.