Office · Santa Clarita, California
Gateway Plaza, Santa Clarita
Gateway Plaza is financed with a $22.0M CMBS loan at 4.39% that reaches maturity on December 6, 2027, in 13 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $22,019,058
- Original balance (same notes)
- $23,500,000
- Interest rate
- 4.39% fixed
- Originated
- December 1, 2017
- Maturity
- December 6, 2027
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ended
- January 5, 2020
- Prepayment premium ends
- June 5, 2027 (yield maintenance)
- Master servicer
- KeyBank Real Estate Capital
- Originator
- n/a
Status
- Payment status
- Not reported
- Special servicing
- Transferred March 26, 2025
- Workout strategy
- Modification
- Defeasance
- Partly defeased
The property
- Address
- 25350-25360 Magic Mountain Parkway, Santa Clarita, CA 91355
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 98,856 sq ft
- Built
- 2006
- Largest tenants
- Regus; NorthLA County Regional Center; NorthLA County Regional Center
- Value at securitization
- $33.2M (Nov 2017)
Performance
| At securitization | Latest (Dec 2024) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.98x |
| Occupancy | 92% | 77% |
| Net operating income | n/a | $1.4M |
| Debt yield | 6.3% |
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 BENCHMARK 2018-B2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
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 92% when the loan was securitized to 77%.
- At 0.98x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $25.9M (June 12, 2025), against $33.2M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $22.0M | Not reported | Yes | 0.98x | 77% |
| August 2026 | $22.1M | Not reported | Yes | 0.98x | 77% |
| July 2026 | $22.1M | Not reported | Yes | 0.98x | 77% |
| June 2026 | $22.1M | Not reported | Yes | 0.98x | 77% |
| May 2026 | $22.2M | Not reported | Yes | 0.98x | 77% |
| April 2026 | $22.2M | Not reported | Yes | 0.98x | 77% |
| March 2026 | $22.2M | Not reported | Yes | 0.98x | 77% |
| February 2026 | $22.3M | Not reported | Yes | 0.98x | 77% |
| January 2026 | $22.3M | Not reported | Yes | 0.98x | 77% |
| December 2025 | $22.3M | Not reported | Yes | 0.98x | 77% |
| November 2025 | $22.4M | Not reported | Yes | 0.98x | 77% |
| October 2025 | $22.4M | Not reported | Yes | 0.98x | 77% |
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.
Special-servicing history
- Transferred to the special servicer March 26, 2025, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2018-B2 Mortgage Trust | 26 | $22,019,058 | Sep 2026 | SEC filing, September 28, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Del Amo Fashion Center | Torrance, CA | Retail | $400.0M | 3.658% | Jun 2027 | 4.52x | 75% | Current |
| 1999 Avenue of the Stars | Los Angeles, CA | Office | $232.8M | 4.137% | May 2027 | 4.62x | 92% | Current |
| Colorado Center | Santa Monica, CA | Office | $160.0M | 3.562% | Aug 2027 | 3.00x | 90% | Current |
| 2355 and 2383 Utah Ave | El Segundo, CA | Office | $85.0M | 5.64% | May 2027 | 1.93x | 100% | Current |
| Medical Centre Of Santa Monica - West | Santa Monica, CA | Office | $71.0M | 4.06% | Jan 2027 | n/a | n/a | Current |
| Shoreline Square | Long Beach, CA | Office | $55.6M | 3.75% | Feb 2027 | 2.52x | 80% | Current |
| Courtyard Los Angeles Sherman Oaks | Sherman Oaks, CA | Hotel | $52.6M | 4.474% | Dec 2027 | 1.49x | 71% | Current |
| Los Angeles Corporate Center | Monterey Park, CA | Office | $52.3M | 4.70% | Apr 2027 | 1.93x | 74% | Current |
All loans maturing in 2027 · 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.