Hotel · La Jolla, California
Hilton La Jolla Torrey Pines
Public CMBS trusts hold $110.0M of the loan on Hilton La Jolla Torrey Pines at 6.687% that reaches maturity on August 1, 2034, in 7 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $110,000,000
- Original balance (same notes)
- $110,000,000
- Interest rate
- 6.687% fixed
- Originated
- July 17, 2024
- Maturity
- August 1, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- January 31, 2034
- Master servicer
- Wells Fargo Bank, NA
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 10950 North Torrey Pines Road, La Jolla, CA 92037
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Units, rooms or beds
- 394
- Built
- 1989, renovated 2012
- Value at securitization
- $165.5M (May 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.51x | 1.76x |
| Occupancy | 79% | 75% |
| Net operating income | $18.7M | $13.1M |
| Debt yield | 11.9% |
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 BBCMS Mortgage Trust 2024-C28 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
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 79% when the loan was securitized to 75%.
- Net operating income is 30% below the underwritten figure ($13.1M a year against $18.7M).
- Debt service coverage moved from 2.51x at securitization to 1.76x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $110.0M | Current | No | 1.76x | 75% |
| August 2026 | $110.0M | Current | No | 1.76x | 75% |
| July 2026 | $110.0M | Current | No | 1.76x | 75% |
| June 2026 | $110.0M | Current | No | 1.76x | 75% |
| May 2026 | $110.0M | Current | No | 1.86x | 76% |
| April 2026 | $110.0M | Current | No | 1.86x | 76% |
| March 2026 | $110.0M | Current | No | 1.86x | 76% |
| February 2026 | $110.0M | Current | No | 1.86x | 76% |
| January 2026 | $110.0M | Current | No | 1.86x | 76% |
| December 2025 | $110.0M | Current | No | 1.86x | 76% |
| November 2025 | $110.0M | Current | No | 2.03x | 78% |
| October 2025 | $110.0M | Current | No | 2.03x | 78% |
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
The loan is split into 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2024-BNK48 | 6 | $65,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BBCMS Mortgage Trust 2024-C28 | 7 | $45,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Residence Inn Del Mar | San Diego, CA | Hotel | $25.0M | 7.003% | Mar 2034 | 1.99x | 80% | Current |
| Rancho Bernardo Technology Portfolio | San Diego, CA | Industrial | $21.5M | 6.91% | Jan 2034 | 1.86x | 100% | Current |
| Ct Self Storage - Escondido | Escondido, CA | Self storage | $3.0M | 5.73% | Jul 2034 | 7.36x | 93% | Current |
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.