Office · Tempe, Arizona
Marina Heights State Farm
Public CMBS trusts hold $210.0M of the loan on Marina Heights State Farm at 3.56% that reaches its anticipated repayment date on January 6, 2028, in 14 months. As of the Sep 2026 and Oct 2026 servicer reports its status is current.
The loan
- Balance in tracked trusts
- $210,000,000
- Original balance (same notes)
- $210,000,000
- Interest rate
- 3.56% fixed
- Originated
- December 7, 2017
- Maturity
- January 6, 2033
- Anticipated repayment date
- January 6, 2028 (the rate steps up if the loan is not repaid by then)
- Payments
- Interest only for the full term
- Prepayment lockout ended
- January 5, 2019
- Prepayment premium ends
- July 5, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Goldman Sachs Mortgage Company
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 300-600 East Rio Salado Parkway, Tempe, AZ 85281
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 2,031,293 sq ft
- Built
- 2015
- Largest tenants
- State Farm; State Farm; State Farm
- Value at securitization
- $960.0M (Nov 2017)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 3.13x | 2.93x |
| Occupancy | 99% | 100% |
| Net operating income | $63.3M | $59.2M |
| Debt yield | 28.2% |
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 GS Mortgage Securities Trust 2018-GS10 filing for the reporting period ending October 6, 2026, filed with the SEC October 22, 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 7% below the underwritten figure ($59.2M a year against $63.3M).
- Debt service coverage moved from 3.13x at securitization to 2.93x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $100.0M | Current | No | 2.93x | 100% |
| September 2026 | $210.0M | Current | No | 2.93x | 100% |
| August 2026 | $210.0M | Current | No | 2.93x | 100% |
| July 2026 | $210.0M | Current | No | 2.93x | 100% |
| June 2026 | $210.0M | Current | No | 2.93x | 100% |
| May 2026 | $210.0M | Current | No | 2.93x | 100% |
| April 2026 | $210.0M | Current | No | 2.93x | 100% |
| March 2026 | $210.0M | Current | No | 2.93x | 100% |
| February 2026 | $210.0M | Current | No | 2.93x | 100% |
| January 2026 | $210.0M | Current | No | 2.93x | 100% |
| December 2025 | $210.0M | Late payment but less than 30 days delinquent | No | 2.87x | 100% |
| November 2025 | $210.0M | Current | No | 2.87x | 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
The loan is split into 4 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| GS Mortgage Securities Trust 2018-GS9 | 1 | $72,500,000 | Oct 2026 | SEC filing, October 22, 2026 |
| Benchmark 2018-B4 Mortgage Trust | 3 | $60,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| JPMDB Commercial Mortgage Securities Trust 2018-C8 | 1 | $50,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| GS Mortgage Securities Trust 2018-GS10 | 11 | $27,500,000 | Oct 2026 | SEC filing, October 22, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Scottsdale Fashion Square | Scottsdale, AZ | Retail | $200.0M | 6.214% | Mar 2028 | 2.08x | n/a | Current |
| Liberty Portfolio | AZ | Office | $90.7M | 4.755% | Oct 2028 | 1.75x | 97% | Current |
| Marina Heights | Tempe, AZ | Office | $86.0M | 3.56% | Jan 2028 | 2.99x | 100% | Current |
| PetSmart HQ | Phoenix, AZ | Office | $68.0M | 4.28% | Apr 2028 | 2.28x | 100% | Current |
| Park West Shopping Center | Peoria, AZ | Retail | $58.6M | 7.25% | Jun 2028 | 1.66x | 88% | Current |
| Phoenix Marriott Tempe at the Buttes | Tempe, AZ | Hotel | $56.9M | 5.11% | Oct 2028 | 3.29x | 77% | Current |
| Liberty Center at Rio Salado | Tempe, AZ | Office | $50.0M | 4.755% | Oct 2028 | n/a | n/a | Current |
| Residence Inn & Courtyard Phoenix Downtown | Phoenix, AZ | Hotel | $44.8M | 4.696% | Jul 2028 | 2.46x | 71% | Current |
All loans maturing in 2028 · All Phoenix-Mesa-Chandler loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 11, 2026, October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.