Office · Los Angeles, California
888 Figueroa
Public CMBS trusts hold $115.0M of the loan on 888 Figueroa at 3.725% that reaches maturity on July 1, 2029, in 2 years and 8 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $115,000,000
- Original balance (same notes)
- $115,000,000
- Interest rate
- 3.725% fixed
- Originated
- June 18, 2019
- Maturity
- July 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- August 31, 2021
- Prepayment premium ends
- December 31, 2028 (yield maintenance)
- Master servicer
- Principal Real Estate
- Originator
- MUFG UNION BANK, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 888 S Figueroa St, Los Angeles, CA 90017
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 416,139 sq ft
- Built
- 1985
- Largest tenants
- NBC Operating, LP; Engineering Employees Services; pathway La
- Value at securitization
- $210.0M (Apr 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.69x | 1.45x |
| Occupancy | 85% | 75% |
| Net operating income (annualized from 3 months) | $11.7M | $6.4M |
| Debt yield | 5.5% |
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 CSAIL 2021-C20 Commercial Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage down 0.25x 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 85% when the loan was securitized to 75%.
- Net operating income is 45% below the underwritten figure ($6.4M a year against $11.7M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.69x at securitization to 1.45x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $115.0M | Current | No | 1.45x | 75% |
| August 2026 | $115.0M | Current | No | n/a | n/a |
| July 2026 | $115.0M | Current | No | n/a | n/a |
| June 2026 | $115.0M | Current | No | n/a | n/a |
| May 2026 | $115.0M | Current | No | n/a | n/a |
| April 2026 | $115.0M | Current | No | 2.22x | 75% |
| March 2026 | $115.0M | Current | No | 2.22x | 75% |
| February 2026 | $115.0M | Current | No | 2.07x | 76% |
| January 2026 | $115.0M | Current | No | 2.01x | 76% |
| December 2025 | $115.0M | Current | No | 2.01x | 76% |
| November 2025 | $115.0M | Current | No | 2.01x | 76% |
| October 2025 | $115.0M | Current | No | 2.01x | 76% |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| CD 2019-CD8 Mortgage Trust | 1 | $75,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| CSAIL 2021-C20 Commercial Mortgage Trust | 3 | $40,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Century Plaza Towers | Los Angeles, CA | Office | $375.0M | 3.004% | Nov 2029 | n/a | n/a | Current |
| The Tower at Burbank | Burbank, CA | Office | $195.0M | 3.13% | Aug 2029 | 2.13x | 74% | Current |
| Great Wolf Lodge Southern California | Garden Grove, CA | Hotel | $150.0M | 5.253% | Mar 2029 | 1.89x | 77% | Current |
| The Alhambra | Alhambra, CA | Office | $150.0M | 4.22% | May 2029 | 2.33x | 81% | Current |
| 9201 West Sunset Boulevard | West Hollywood, CA | Mixed use | $135.0M | 4.445% | May 2029 | n/a | n/a | Current |
| Ford Factory | Los Angeles, CA | Office | $135.0M | 4.52% | Apr 2029 | 2.41x | 100% | Current |
| Marriott Anaheim | Anaheim, CA | Hotel | $125.0M | 6.373% | Jun 2029 | 1.23x | 73% | Current |
| Saks Beverly Hills | Beverly Hills, CA | Retail | $90.0M | 7.663% | Jun 2029 | 1.73x | 100% | Current |
All loans maturing in 2029 · All Los Angeles-Long Beach-Anaheim 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.