Office · Pasadena, California
Evergreen Medical Office
200 East Del Mar Boulevard, Pasadena, CA · Google Maps
Evergreen Medical Office is financed with a $7.2M CMBS loan at 8.042% that reaches maturity on October 6, 2031, in 4 years and 11 months. As of the Nov 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $7,200,000
- Original balance (same notes)
- $7,200,000
- Interest rate
- 8.042% fixed
- Originated
- September 17, 2026
- Maturity
- October 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2031
- Master servicer
- Trimont LLC
- Originator
- Argentic Real Estate Finance 2 LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 200 East Del Mar Boulevard, Pasadena, CA 91105
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 54,405 sq ft
- Built
- 1981
- Largest tenants
- Mindful Spaces, LLC; Clear Mind Full Heart, LLC; Rowi Pasadena, Inc.
- Value at securitization
- $10.5M (Jul 2026)
Performance
| Measure | At securitization | Latest |
|---|---|---|
| DSCR (NOI) | 1.55x | n/a |
| Occupancy | 83% | n/a |
| Net operating income | $913K | n/a |
Comparable loans: office properties in Los Angeles-Long Beach-Anaheim, CA, with NOI, occupancy and value.
Watch flags
Computed from the Benchmark 2026-V24 Mortgage Trust filing for the reporting period ending November 12, 2026, filed with the SEC October 26, 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
- The filing gives Jan 2031 as the lease end date for the largest tenant (Mindful Spaces, LLC), before the loan matures. Lenders look hard at that rollover.
Who is behind this loan
- Non-recourse carveout guarantor and sponsor
- Shown with Pro
Source: SEC Form 424B2 prospectus, Annex A-1, filed Nov 2026.
Operating statement
| Annual | At securitization | Latest | Per sq ft |
|---|---|---|---|
| Revenue | $1.7M | n/a | |
| Operating expenses | $786K | n/a | |
| Net operating income | $913K | n/a | |
| Net cash flow | $833K | n/a | |
| Expense ratio | 46.3% | n/a |
From the servicer's Schedule AL report; 54,405 sq ft.
Largest tenants
| Tenant | Sq ft | Share of building | Lease ends |
|---|---|---|---|
| Mindful Spaces, LLC | 5,933 | 11% | Jan 2031 |
| Clear Mind Full Heart, LLC | 5,200 | 10% | Feb 2030 |
| Rowi Pasadena, Inc. | 4,421 | 8% | Feb 2028 |
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-V24 Mortgage Trust | 29 | $7,200,000 | Nov 2026 | SEC filing, October 26, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 1888 Century Park East | Los Angeles, CA | Office | $200.0M | 2.641% | Dec 2031 | 3.24x | 70% | Current |
| Hilton Waterfront Beach Resort | Huntington Beach, CA | Hotel | $127.0M | 6.107% | Mar 2031 | 2.08x | n/a | Current |
| Glendale Fashion Center | Glendale, CA | Retail | $100.0M | 6.518% | Jul 2031 | 1.21x | 100% | Current |
| Freeway Business Park | Long Beach, CA | Office | $95.0M | 6.024% | Mar 2031 | 1.25x | n/a | Current |
| La Habra Marketplace | La Habra, CA | Retail | $95.0M | 3.70% | Dec 2031 | 2.67x | 99% | Current |
| Plaza La Cienega | Los Angeles, CA | Mixed use | $90.0M | 3.49% | Oct 2031 | 2.48x | 97% | Current |
| Del Rey Campus | Los Angeles, CA | Office | $72.0M | 6.95% | Mar 2031 | 0.48x | 82% | Current |
| Chateau Marmont | Los Angeles, CA | Hotel | $65.0M | 6.51% | Apr 2031 | n/a | n/a | Current |
All loans maturing in 2031 · 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 November 12, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.