Retail · Stockton, California
College Square III
915 & 941 West March Lane, Stockton, CA · Google Maps
College Square III is financed with a $4.8M CMBS loan at 7.196% that reaches maturity on September 6, 2036, in 9 years and 10 months. As of the Nov 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $4,850,000
- Original balance (same notes)
- $4,850,000
- Interest rate
- 7.196% fixed
- Originated
- August 17, 2026
- Maturity
- September 6, 2036
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 5, 2036
- Master servicer
- Midland Loan Services
- Originator
- German American Capital Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 915 & 941 West March Lane, Stockton, CA 95207
- Metro
- Stockton-Lodi, CA
- Rentable area
- 42,473 sq ft
- Built
- 1978
- Largest tenants
- Goodwill; Luxyl; Auto Zone
- Value at securitization
- $9.5M (Jun 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.61x | n/a |
| Occupancy | 87% | n/a |
| Net operating income | $568K | n/a |
Comparable loans: retail properties in Stockton-Lodi, CA, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-B44 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC November 3, 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.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $908K | n/a | |
| Operating expenses | $340K | n/a | |
| Net operating income | $568K | n/a | |
| Net cash flow | $521K | n/a | |
| Expense ratio | 37.5% | n/a |
From the servicer's Schedule AL report; 42,473 sq ft.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Goodwill | 13,000 | 31% | May 2037 |
| Luxyl | 8,029 | 19% | Aug 2030 |
| Auto Zone | 8,000 | 19% | Jan 2029 |
Red: the lease ends before the loan matures.
Refinance and early payoff, at today's rates
This estimate uses today's Treasury curve and needs JavaScript.
Rough estimates, not quotes. New loan: the filed NOI divided by the coverage you set, at the Treasury yield for the term plus your spread. Early payoff: the present value of the remaining scheduled payments to the open date at today's Treasury yields, less the balance, which is roughly what defeasance or yield maintenance costs. Loan documents, fees and the securities bought change the real number. Treasury yields: U.S. Treasury daily par curve.
Where the loan sits
One trust holds this loan in the data.
| Trust | Asset no. in that trust | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2026-B44 Mortgage Trust | 39 | $4,850,000 | Nov 2026 | SEC filing, November 3, 2026 |
Other Stockton-Lodi loans due in 2036
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cherokee MHP | Lodi, CA | Manufactured housing | $2.7M | 6.63% | Jan 2036 | 1.37x | 93% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.