Industrial · Ontario, California
Liberty Business Park
Liberty Business Park is financed with a $5.0M CMBS loan at 4.55% that reaches maturity on August 1, 2028, in 21 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $5,000,000
- Original balance (same notes)
- $5,000,000
- Interest rate
- 4.55% fixed
- Originated
- July 6, 2018
- Maturity
- August 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- August 31, 2020
- Prepayment premium ends
- April 30, 2028 (yield maintenance)
- Originator
- CIBC Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2811, 2821 & 2831 East Philadelphia Street, Ontario, CA 91761
- Metro
- Riverside-San Bernardino-Ontario, CA
- Rentable area
- 84,792 sq ft
- Built
- 1991
- Largest tenants
- POCHAR, LLC; STARLEADS SOLUTION, LLC; ITOH DENKI USA
- Value at securitization
- $12.7M (May 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.71x | 3.96x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $625K | $1.8M |
| Debt yield | 36.9% |
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 UBS Commercial Mortgage Trust 2018-C12 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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
- Net operating income is 195% above the underwritten figure ($1.8M a year against $625K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.71x at securitization to 3.96x on the latest statements.
- The filing gives May 2028 as the lease end date for the largest tenant (POCHAR, LLC), before the loan matures. Lenders look hard at that rollover.
The last 11 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $5.0M | Current | No | 3.96x | 100% |
| August 2026 | $5.0M | Current | No | n/a | n/a |
| July 2026 | $5.0M | Current | No | n/a | n/a |
| June 2026 | $5.0M | Current | No | n/a | n/a |
| May 2026 | $5.0M | Current | No | n/a | n/a |
| April 2026 | $5.0M | Current | No | 3.96x | 100% |
| March 2026 | $5.0M | Current | No | 3.96x | 100% |
| February 2026 | $5.0M | Current | No | 3.96x | 100% |
| January 2026 | $5.0M | Current | No | 2.94x | 80% |
| December 2025 | $5.0M | Current | No | 2.94x | 80% |
| October 2025 | $5.0M | Current | No | 2.64x | 80% |
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 2018-C12 | 53 | $5,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Riverside-San Bernardino-Ontario loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Shoppes at Chino Hills | Chino Hills, CA | Retail | $110.0M | 5.175% | Jun 2028 | 1.63x | 82% | Current |
| California High Tech Logistics | Riverside, CA | Industrial | $70.0M | 8.122% | Apr 2028 | 1.35x | 100% | Current |
| The Westin Rancho Mirage | Rancho Mirage, CA | Hotel | $50.0M | 8.23% | Nov 2028 | 0.78x | 53% | Current |
| Embassy Suites Ontario Airport | Ontario, CA | Hotel | $39.6M | 4.755% | Sep 2028 | n/a | n/a | Current |
| Mission Grove Plaza | Riverside, CA | Retail | $37.0M | 6.866% | Jun 2028 | 2.03x | 68% | Current |
| Ontario Airport Tower | Ontario, CA | Office | $23.6M | 6.081% | Jan 2028 | n/a | n/a | Current |
| Lakeside Tower | San Bernardino, CA | Office | $18.9M | 4.775% | Oct 2028 | n/a | n/a | Current |
| Empire Towers V | Ontario, CA | Office | $18.5M | 5.03% | Jul 2028 | 1.80x | 99% | Current |
All loans maturing in 2028 · All Riverside-San Bernardino-Ontario 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.