Retail · Tuscon, Arizona
La Encantada
Public CMBS trusts hold $102.0M of the loan on La Encantada at 3.361% that reaches maturity on October 6, 2031, in 4 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $102,000,000
- Original balance (same notes)
- $102,000,000
- Interest rate
- 3.361% fixed
- Originated
- September 17, 2021
- Maturity
- October 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2031
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2905 East Skyline Drive, Tuscon, AZ 85718
- Metro
- Tucson, AZ
- Rentable area
- 248,375 sq ft
- Built
- 2003, renovated 2020
- Largest tenants
- AJ's Fine Foods; Crate&Barrel; Pottery Barn #743
- Value at securitization
- $173.7M (Jun 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.72x | 3.38x |
| Occupancy | 90% | 93% |
| Net operating income (annualized from 6 months) | $9.4M | $23.7M |
| Debt yield | 23.2% |
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 2021-B30 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 93%.
- Net operating income is 151% above the underwritten figure ($23.7M a year against $9.4M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.72x at securitization to 3.38x on the latest statements.
- The filing gives Jan 2029 as the lease end date for the largest tenant (AJ's Fine Foods), 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 | $102.0M | Current | No | 3.38x | 93% |
| August 2026 | $102.0M | Current | No | 3.38x | 93% |
| July 2026 | $102.0M | Current | No | 3.48x | 97% |
| June 2026 | $102.0M | Current | No | 3.48x | 97% |
| May 2026 | $102.0M | Current | No | 3.36x | 100% |
| April 2026 | $102.0M | Current | No | 3.36x | 100% |
| March 2026 | $102.0M | Current | No | 3.36x | 100% |
| February 2026 | $102.0M | Current | No | 3.36x | 100% |
| January 2026 | $102.0M | Current | No | 3.36x | 96% |
| December 2025 | $102.0M | Current | No | 3.36x | 96% |
| November 2025 | $102.0M | Current | No | 3.36x | 96% |
| October 2025 | $102.0M | Current | No | 3.45x | 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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BENCHMARK 2021-B31 MORTGAGE TRUST | 7 | $55,000,000 | Sep 2026 | SEC filing, September 30, 2026 |
| GS Mortgage Securities Trust 2021-GSA3 | 7 | $27,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Benchmark 2021-B30 Mortgage Trust | 16 | $20,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Tucson loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Wilmot Plaza | Tuscon, AZ | Retail | $27.8M | 3.907% | Oct 2031 | 1.91x | 100% | Current |
| Icon Broadway fka River Oaks Apartments | Tucson, AZ | Multifamily | $24.6M | 6.00% | May 2031 | n/a | n/a | Current |
| Campbell Plaza | Tucson, AZ | Retail | $23.3M | 4.01% | Jul 2031 | 1.78x | 93% | Current |
| Embassy Plaza | Tucson, AZ | Retail | $16.7M | 6.59% | Apr 2031 | n/a | n/a | Current |
| The Plaza at Williams Centre | Tucson, AZ | Retail | $12.5M | 3.408% | Jul 2031 | 2.75x | 96% | Current |
| A-Family Storage - East Valencia | Tucson, AZ | Self storage | $8.8M | 3.516% | May 2031 | n/a | n/a | Current |
| Arizona Pavilions | Tucson, AZ | Retail | $6.0M | 4.98% | Mar 2031 | 1.54x | 100% | Current |
| Chuze Fitness Center | Tucson, AZ | Retail | $3.7M | 3.52% | Sep 2031 | 2.16x | 100% | 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.