Hotel · Monterey, California
Marriott Monterey
Public CMBS trusts hold $75.0M of the loan on Marriott Monterey at 5.872% that reaches maturity on February 6, 2031, in 4 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $75,000,000
- Original balance (same notes)
- $75,000,000
- Interest rate
- 5.872% fixed
- Originated
- February 5, 2026
- Maturity
- February 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2028
- Prepayment premium ends
- August 5, 2030 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Goldman Sachs Bank USA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 350 Calle Principal, Monterey, CA 93940
- Metro
- Salinas, CA
- Built
- 1984, renovated 2020
- Value at securitization
- $143.2M (Jan 2026)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.88x | 3.53x |
| Occupancy | 80% | 78% |
| Net operating income (annualized from 6 months) | $12.8M | $21.2M |
| 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 Benchmark 2026-V21 Mortgage Trust 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 65% above the underwritten figure ($21.2M a year against $12.8M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.88x at securitization to 3.53x on the latest statements.
The last 7 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $75.0M | Current | No | 3.53x | 78% |
| August 2026 | $75.0M | Current | No | 3.53x | 78% |
| July 2026 | $75.0M | Current | No | n/a | n/a |
| June 2026 | $75.0M | Current | No | n/a | n/a |
| May 2026 | $75.0M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| April 2026 | $75.0M | Current | No | n/a | n/a |
| March 2026 | $50.0M | Current | No | n/a | n/a |
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 2 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BMO 2026-5C14 Mortgage Trust | 4 | $50,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| Benchmark 2026-V21 Mortgage Trust | 20-A-2 | $25,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Salinas loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Monterey RV Park | Aromas, CA | Manufactured housing | $20.8M | 3.77% | Jun 2031 | n/a | n/a | Current |
| Frontier Self Storage - 425 North Main Street | Salinas, CA | Self storage | $11.0M | 2.97% | Jan 2031 | 3.27x | 88% | 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.