Office · Carlsbad, California
Ionis Pharmaceuticals - Faraday Avenue
Ionis Pharmaceuticals - Faraday Avenue is financed with a $8.5M CMBS loan at 4.211% that reaches maturity on August 6, 2027, in 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
- $8,450,912
- Original balance (same notes)
- $9,100,000
- Interest rate
- 4.211% fixed
- Originated
- July 18, 2017
- Maturity
- August 6, 2027
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- April 5, 2027
- Master servicer
- Midland Loan Services
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2282 Faraday Avenue, Carlsbad, CA 92008
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Rentable area
- 28,704 sq ft
- Built
- 1986, renovated 2016
- Largest tenants
- IONIS PHARMACEUTICALS, INC
- Value at securitization
- $14.5M (Jul 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.68x | 1.94x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $899K | $2.1M |
| Debt yield | 24.7% |
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 UBS Commercial Mortgage Trust 2017-C2 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Matures 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
- Net operating income is 132% above the underwritten figure ($2.1M a year against $899K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.68x at securitization to 1.94x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.5M | Current | No | 1.94x | 100% |
| August 2026 | $8.5M | Current | No | 1.94x | 100% |
| July 2026 | $8.5M | Current | No | 1.94x | 100% |
| June 2026 | $8.5M | Current | No | n/a | n/a |
| May 2026 | $8.5M | Current | No | n/a | n/a |
| April 2026 | $8.5M | Current | No | 1.93x | 100% |
| March 2026 | $8.5M | Current | No | 1.93x | 100% |
| February 2026 | $8.6M | Current | No | 1.93x | 100% |
| January 2026 | $8.6M | Current | No | 1.93x | 100% |
| December 2025 | $8.6M | Current | No | 1.93x | 100% |
| November 2025 | $8.6M | Current | No | 1.93x | 100% |
| October 2025 | $8.6M | Current | No | 1.94x | 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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2017-C2 | 32 | $8,450,912 | Sep 2026 | SEC filing, September 28, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Petco Corporate Headquarters | San Diego, CA | Office | $71.5M | 4.168% | Aug 2027 | 2.88x | 100% | Current |
| U.s. Grant Hotel | San Diego, CA | Hotel | $41.7M | 5.523% | Mar 2027 | 0.57x | 73% | Current |
| Pinnacle Medical Plaza | San Diego, CA | Office | $29.0M | 4.30% | Sep 2027 | 2.58x | 96% | Current |
| Manchester Financial Building | La Jolla, CA | Mixed use | $22.9M | 4.50% | Oct 2027 | 1.18x | 76% | Current |
| Torrey Executive Centre | La Jolla, CA | Office | $22.6M | 4.55% | Oct 2027 | 1.78x | 100% | Current |
| Trade Center | San Diego, CA | Industrial | $13.5M | 4.45% | Jun 2027 | 3.24x | 98% | Current |
| Mission Gorge Square | Santee, CA | Retail | $12.5M | 3.83% | May 2027 | 4.35x | 96% | Current |
| Camino Vida Roble | Carlsbad, CA | Mixed use | $12.0M | 4.84% | Apr 2027 | 3.21x | 100% | Current |
All loans maturing in 2027 · All San Diego-Chula Vista-Carlsbad 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.