Office · Escondido, California
La Terraza Office Building
La Terraza Office Building is financed with a $10.3M CMBS loan at 4.30% that reaches maturity on August 6, 2029, in 2 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $10,348,193
- Original balance (same notes)
- $11,600,000
- Interest rate
- 4.30%
- Originated
- July 29, 2019
- Maturity
- August 6, 2029
- Payments
- Amortizing over 30 years
- Master servicer
- KeyBank Real Estate Capital
- Originator
- SMC
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 600 La Terraza Boulevard, Escondido, CA 92025
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Rentable area
- 40,201 sq ft
- Built
- 2007
- Largest tenants
- Dalrada: DBA Health; Afinida; Manhattan Investment Bank
- Value at securitization
- $16.6M (Jun 2019)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.38x |
| Occupancy | 100% | 79% |
| Net operating income | n/a | $953K |
| Debt yield | 9.2% |
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 CF 2019-CF2 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Occupancy down 10 points or more from securitization
- 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 fallen from 100% when the loan was securitized to 79%.
- The filing gives Jun 2027 as the lease end date for the largest tenant (Dalrada: DBA Health), 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 | $10.3M | Late payment but less than 30 days delinquent | No | 1.38x | 79% |
| August 2026 | $10.4M | Late payment but less than 30 days delinquent | No | 1.38x | 79% |
| July 2026 | $10.4M | Late payment but less than 30 days delinquent | No | 1.38x | 79% |
| June 2026 | $10.4M | Late payment but less than 30 days delinquent | No | 1.38x | 79% |
| May 2026 | $10.4M | Late payment but less than 30 days delinquent | No | 1.38x | 80% |
| April 2026 | $10.4M | Late payment but less than 30 days delinquent | No | 1.38x | 80% |
| March 2026 | $10.4M | Not reported | No | 1.38x | 80% |
| February 2026 | $10.5M | Not reported | No | 1.38x | 80% |
| January 2026 | $10.5M | Not reported | No | 1.38x | 80% |
| December 2025 | $10.5M | Late payment but less than 30 days delinquent | No | 1.38x | 80% |
| November 2025 | $10.5M | Not reported | No | 1.38x | 80% |
| October 2025 | $10.5M | Not reported | No | 0.78x | 81% |
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 |
|---|---|---|---|---|
| CF 2019-CF2 Mortgage Trust | 30 | $10,348,193 | Sep 2026 | SEC filing, September 30, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Sunroad Centrum | San Diego, CA | Office | $82.5M | 7.912% | May 2029 | 1.26x | 100% | Current |
| Highlands Corporate Center | San Diego, CA | Office | $52.0M | 6.80% | Dec 2029 | n/a | n/a | Current |
| Vista Village Shopping Center | Vista, CA | Retail | $44.0M | 4.38% | Apr 2029 | 2.59x | 91% | Current |
| Homewood Suites Mission Valley | San Diego, CA | Hotel | $28.4M | 7.886% | Apr 2029 | 1.17x | 95% | Current |
| Hilton Garden Inn - San Diego Mission Valley Stadium | San Diego, CA | Hotel | $21.1M | 4.65% | Jul 2029 | 1.90x | 85% | Current |
| Holiday Inn - San Diego | San Diego, CA | Hotel | $20.9M | 4.31% | Sep 2029 | 2.19x | n/a | Current |
| Monarch Corporate Center | San Diego, CA | Office | $19.8M | 4.65% | Jan 2029 | 2.05x | 89% | Current |
| Miramar Metroplex | San Diego, CA | Mixed use | $18.9M | 6.818% | Nov 2029 | 1.99x | 75% | Current |
All loans maturing in 2029 · 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.