Office · Los Angeles, California
Metroplex
Public CMBS trusts hold $54.0M of the loan on Metroplex at 6.724% that reaches maturity on January 6, 2028, in 14 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $54,000,000
- Original balance (same notes)
- $54,000,000
- Interest rate
- 6.724% fixed
- Originated
- January 6, 2023
- Maturity
- January 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- February 5, 2024
- Prepayment premium ends
- September 5, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- AREF 2
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3530 Wilshire Boulevard, Los Angeles, CA 90010
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 419,804 sq ft
- Built
- 1985, renovated 2020
- Largest tenants
- County of Los Angeles; New York Life Insurance Company; Carter Residential LLC
- Value at securitization
- $104.0M (Oct 2022)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.84x | 1.66x |
| Occupancy | 66% | 64% |
| Net operating income (annualized from 3 months) | $6.8M | $6.1M |
| Debt yield | 11.3% |
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 MSWF Commercial Mortgage Trust 2023-2 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 10% below the underwritten figure ($6.1M a year against $6.8M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 1.84x at securitization to 1.66x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $54.0M | Late payment but less than 30 days delinquent | No | 1.66x | 64% |
| August 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.66x | 64% |
| July 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.58x | 63% |
| June 2026 | $54.0M | Late payment but less than 30 days delinquent | No | 1.59x | 63% |
| May 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.59x | 63% |
| April 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.59x | 63% |
| March 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.59x | 63% |
| February 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.59x | 63% |
| January 2026 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.55x | 62% |
| December 2025 | $54.0M | Late payment but less than 30 days delinquent | No | 1.55x | 62% |
| November 2025 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.55x | 62% |
| October 2025 | $54.0M | Payment not received but still in grace period or not yet due | No | 1.55x | 62% |
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 |
|---|---|---|---|---|
| FIVE 2023-V1 Mortgage Trust | 12 | $25,000,000 | Sep 2026 | SEC filing, September 25, 2026 |
| MSWF Commercial Mortgage Trust 2023-1 | 13 | $24,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
| MSWF Commercial Mortgage Trust 2023-2 | 38 | $5,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aliso Viejo Commerce Center | Aliso Viejo, CA | Mixed use | $174.2M | 4.89% | Feb 2028 | n/a | n/a | Current |
| Airport Business Center, Irvine | Irvine, CA | Industrial | $150.0M | 4.375% | Feb 2028 | 3.15x | 90% | Current |
| Atlantic Times Square | Monterey Park, CA | Mixed use | $98.0M | 4.845% | Apr 2028 | 1.62x | 91% | Current |
| 12800 Culver | Los Angeles, CA | Other | $84.8M | 6.533% | Jul 2028 | 2.60x | 100% | Current |
| Red Building | West Hollywood, CA | Office | $80.0M | 4.386% | Jan 2028 | 1.60x | 73% | Current |
| Aliso Creek Apartments | Aliso Viejo, CA | Multifamily | $63.0M | 3.519% | Apr 2028 | 6.37x | 96% | Current |
| 6420 Wilshire | Los Angeles, CA | Office | $62.0M | 4.276% | Jan 2028 | 0.93x | 72% | Current |
| Soho Warehouse DTLA | Los Angeles, CA | Mixed use | $61.3M | 7.83% | May 2028 | 1.48x | 100% | Current |
All loans maturing in 2028 · All Los Angeles-Long Beach-Anaheim loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 8, 2026, September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.