Retail · Pleasanton, California
Gateway Square Shopping Center
Gateway Square Shopping Center is financed with a $9.8M CMBS loan at 6.675% that reaches maturity on March 1, 2029, in 2 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,750,000
- Original balance (same notes)
- $9,750,000
- Interest rate
- 6.675% fixed
- Originated
- February 27, 2024
- Maturity
- March 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 31, 2026
- Prepayment premium ends
- August 31, 2028 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 4801-4889 Hopyard Road, Pleasanton, CA 94588
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 87,328 sq ft
- Built
- 1989
- Largest tenants
- CHASING CHANCES INC; GLOBAL VILLAGE SCHOOLS; CHILI'S #171
- Value at securitization
- $32.3M (Jan 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 3.13x | 3.30x |
| Occupancy | 90% | 97% |
| Net operating income | $2.1M | $2.2M |
| Debt yield | 22.3% |
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 BANK5 Trust 2024-5YR6 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Largest tenant's lease ends within 12 months
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 risen from 90% when the loan was securitized to 97%.
- Net operating income is 5% above the underwritten figure ($2.2M a year against $2.1M).
- Debt service coverage moved from 3.13x at securitization to 3.30x on the latest statements.
- The filing gives Nov 2026 as the lease end date for the largest tenant (CHASING CHANCES INC), 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 | $9.8M | Current | No | 3.30x | 97% |
| August 2026 | $9.8M | Current | No | 3.30x | 97% |
| July 2026 | $9.8M | Current | No | 3.30x | 97% |
| June 2026 | $9.8M | Current | No | 3.30x | 97% |
| May 2026 | $9.8M | Current | No | 3.30x | 97% |
| April 2026 | $9.8M | Current | No | 3.30x | 97% |
| March 2026 | $9.8M | Current | No | 3.30x | 97% |
| February 2026 | $9.8M | Current | No | 3.18x | 89% |
| January 2026 | $9.8M | Current | No | 3.18x | 89% |
| December 2025 | $9.8M | Current | No | 3.46x | 97% |
| November 2025 | $9.8M | Current | No | 3.46x | 97% |
| October 2025 | $9.8M | Current | No | 3.46x | 97% |
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 |
|---|---|---|---|---|
| BANK5 Trust 2024-5YR6 | 27 | $9,750,000 | Sep 2026 | SEC filing, September 28, 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.