Industrial · Los Angeles, California
LA Creative Industrial Portfolio
LA Creative Industrial Portfolio is financed with a $15.3M CMBS loan at 4.095% that reaches maturity on April 6, 2031, in 4 years and 5 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $15,250,000
- Original balance (same notes)
- $15,250,000
- Interest rate
- 4.095% fixed
- Originated
- April 6, 2021
- Maturity
- April 6, 2031
- Payments
- Interest only for the full term
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2079 East 15th Street, Los Angeles, CA 90021
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 144,339 sq ft
- Built
- 1923
- Value at securitization
- $30.8M (Nov 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.39x |
| Occupancy | 71% | 32% |
| Net operating income | n/a | $249K |
| Debt yield | 1.6% |
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 Morgan Stanley Capital I Trust 2021-L5 filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in every report since February 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 71% when the loan was securitized to 32%.
- At 0.39x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $15.3M | Not reported | No | 0.39x | 32% |
| August 2026 | $15.3M | Not reported | No | 0.50x | 30% |
| July 2026 | $15.3M | Not reported | No | 0.50x | 30% |
| June 2026 | $15.3M | Not reported | No | 0.50x | 30% |
| May 2026 | $15.3M | Not reported | No | 0.65x | 33% |
| April 2026 | $15.3M | Not reported | No | 0.65x | 33% |
| March 2026 | $15.3M | Not reported | No | 0.68x | 33% |
| February 2026 | $15.3M | Not reported | No | 0.68x | 33% |
| January 2026 | $15.3M | Not reported | No | 1.09x | 33% |
| December 2025 | $15.3M | Not reported | No | 1.09x | 47% |
| November 2025 | $15.3M | Not reported | No | 1.09x | 47% |
| October 2025 | $15.3M | Not reported | No | 1.09x | 47% |
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 |
|---|---|---|---|---|
| Morgan Stanley Capital I Trust 2021-L5 | 16 | $15,250,000 | Sep 2026 | SEC filing, October 2, 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 | n/a | n/a | Current |
| Glendale Fashion Center | Glendale, CA | Retail | $100.0M | 6.518% | Jul 2031 | n/a | n/a | Current |
| Freeway Business Park | Long Beach, CA | Office | $95.0M | 6.024% | Mar 2031 | n/a | 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 | n/a | n/a | Current |
| Chateau Marmont | Los Angeles, CA | Hotel | $65.0M | 6.51% | Apr 2031 | n/a | n/a | Current |
| Del Rey Campus | Los Angeles, CA | Office | $65.0M | 6.95% | Mar 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 September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.