Mixed use · Cardiff by the Sea, California
Cardiff Reef
Cardiff Reef is financed with a $4.7M CMBS loan at 3.054% that reaches maturity on December 1, 2030, in 4 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
- $4,725,000
- Original balance (same notes)
- $4,725,000
- Interest rate
- 3.054% fixed
- Originated
- November 16, 2020
- Maturity
- December 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2022
- Prepayment premium ends
- August 31, 2030 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Bank of America, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2121 Newcastle Avenue, Cardiff by the Sea, CA 92007
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Rentable area
- 15,300 sq ft
- Built
- 1976, renovated 2019
- Largest tenants
- THE FAMILIE V2; BROWN & WINTERS; KAT BEAUTY, LLC
- Value at securitization
- $12.0M (Oct 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.31x | 4.12x |
| Occupancy | 100% | 88% |
| Net operating income (annualized from 6 months) | $484K | $606K |
| Debt yield | 12.8% |
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 BANK 2020-BNK30 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 88%.
- Net operating income is 25% above the underwritten figure ($606K a year against $484K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.31x at securitization to 4.12x on the latest statements.
- The filing gives Oct 2023 as the lease end date for the largest tenant (THE FAMILIE V2), 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 | $4.7M | Current | No | 4.12x | 88% |
| August 2026 | $4.7M | Current | No | 4.12x | 88% |
| July 2026 | $4.7M | Current | No | 4.12x | 88% |
| June 2026 | $4.7M | Current | No | 4.17x | 94% |
| May 2026 | $4.7M | Current | No | 4.17x | 94% |
| April 2026 | $4.7M | Current | No | 4.43x | 94% |
| March 2026 | $4.7M | Current | No | 4.43x | 94% |
| February 2026 | $4.7M | Current | No | 4.43x | 94% |
| January 2026 | $4.7M | Current | No | 4.57x | 100% |
| December 2025 | $4.7M | Current | No | 4.57x | 100% |
| November 2025 | $4.7M | Current | No | 4.57x | 100% |
| October 2025 | $4.7M | Current | No | 4.50x | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2020-BNK30 | 25 | $4,725,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| El Camino Real | Encinitas, CA | Office | $84.5M | 4.195% | Oct 2030 | n/a | n/a | Current |
| 501 West Broadway | San Diego, CA | Office | $47.0M | 6.329% | Sep 2030 | 2.30x | 77% | Current |
| Muse at Torrey Pines | San Diego, CA | Mixed use | $45.0M | 5.496% | Mar 2030 | 2.91x | 100% | Current |
| Aladdin Airport Parking | San Diego, CA | Other | $40.0M | 6.845% | Apr 2030 | 2.81x | n/a | Current |
| The Lafayette Hotel | San Diego, CA | Hotel | $35.3M | 5.28% | Aug 2030 | n/a | n/a | Current |
| Technology Place | San Diego, CA | Office | $25.9M | 4.00% | Aug 2030 | 2.21x | 100% | Current |
| 225 Broadway | San Diego, CA | Office | $23.3M | 5.964% | Jul 2030 | 4.92x | 79% | Current |
| Courtyard Marriott Solana Beach | Solana Beach, CA | Hotel | $22.6M | 3.60% | Mar 2030 | 2.77x | 79% | Current |
All loans maturing in 2030 · All San Diego-Chula Vista-Carlsbad 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.