Retail · Union City, California
El Mercado Shopping Center
El Mercado Shopping Center is financed with a $27.1M CMBS loan at 3.825% that reaches maturity on November 1, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $27,080,210
- Original balance (same notes)
- $28,000,000
- Interest rate
- 3.825% fixed
- Originated
- November 1, 2019
- Maturity
- November 1, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- July 31, 2029
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 34300-34396 Alvarado-Niles Road and 1601-1801 Decoto Road, Union City, CA 94587
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 109,168 sq ft
- Built
- 1981
- Largest tenants
- Hashi Market; Daiso; Golden Bay Seafood
- Value at securitization
- $43.8M (Sep 2019)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.61x | 1.73x |
| Occupancy | 100% | 100% |
| Net operating income | $2.5M | $2.7M |
| Debt yield | 10.1% |
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 2019-BNK23 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 8% above the underwritten figure ($2.7M a year against $2.5M).
- Debt service coverage moved from 1.61x at securitization to 1.73x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $27.1M | Current | No | 1.73x | 100% |
| August 2026 | $27.1M | Current | No | 1.73x | 100% |
| July 2026 | $27.2M | Current | No | 1.73x | 100% |
| June 2026 | $27.2M | Current | No | 1.73x | 100% |
| May 2026 | $27.2M | Current | No | 1.73x | 100% |
| April 2026 | $27.3M | Current | No | 1.76x | 100% |
| March 2026 | $27.3M | Current | No | 1.76x | 100% |
| February 2026 | $27.4M | Current | No | 1.76x | 100% |
| January 2026 | $27.4M | Current | No | 1.76x | 100% |
| December 2025 | $27.5M | Current | No | 1.71x | 100% |
| November 2025 | $27.5M | Current | No | 1.71x | 100% |
| October 2025 | $27.5M | Current | No | 2.31x | 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 2019-BNK23 | 15 | $27,080,210 | Sep 2026 | SEC filing, October 1, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 560 Mission Street | San Francisco, CA | Office | $300.0M | 2.589% | Dec 2029 | 2.37x | 97% | Current |
| 101 California Street | San Francisco, CA | Office | $200.0M | 3.85% | Mar 2029 | 1.60x | 91% | Current |
| 350 Bush Street | San Francisco, CA | Office | $185.0M | 3.912% | May 2029 | 4.63x | 100% | Current |
| 188 Spear Street | San Francisco, CA | Office | $125.0M | 3.57% | Jun 2029 | 3.57x | 97% | With the special servicer |
| Nema San Francisco | San Francisco, CA | Multifamily | $75.0M | 4.436% | Feb 2029 | 1.34x | 97% | Current |
| One Stockton | San Francisco, CA | Retail | $66.0M | 4.04% | Dec 2029 | -0.37x | 100% | Current |
| Pleasanton Corporate Commons | Pleasanton, CA | Mixed use | $65.8M | 7.78% | May 2029 | 1.88x | 100% | Current |
| Central Tower | San Francisco, CA | Office | $63.7M | 4.06% | May 2029 | 1.11x | 34% | With the special servicer and 90+ days delinquent |
All loans maturing in 2029 · All San Francisco-Oakland-Fremont 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.