Multifamily · San Francisco, California
Parkmerced
Public CMBS trusts hold $260.0M of the loan on Parkmerced at 2.725% that reached maturity on December 9, 2024, 22 months ago. As of the Sep 2026 and Oct 2026 servicer reports its status is past maturity and not performing.
The loan
- Balance in tracked trusts
- $260,000,000
- Original balance (same notes)
- $260,000,000
- Interest rate
- 2.725% fixed
- Originated
- November 26, 2019
- Maturity
- December 9, 2024
- Payments
- Interest only for the full term
- Prepayment premium ends
- October 8, 2024 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc., Barclays Capital Real Estate Inc.
Status
- Payment status
- Non performing matured balloon. (code 5)
- Special servicing
- Transferred March 14, 2024
- Workout strategy
- Foreclosure
- Defeasance
- Partly defeased
The property
- Address
- 3711 19th Avenue, San Francisco, CA 94132
- Metro
- San Francisco-Oakland-Fremont, CA
- Units, rooms or beds
- 3,221
- Built
- 1944, renovated 2009
- Value at securitization
- $2.1B (Sep 2019)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 4.06x | n/a |
| Occupancy | 94% | n/a |
| Net operating income | $60.5M | n/a |
Watch flags
Computed from the GS Mortgage Securities Trust 2020-GC45 filing for the reporting period ending October 9, 2026, filed with the SEC October 22, 2026.
- With the special servicer
- 30+ days delinquent or matured unpaid
- Past maturity
On the cmbs.news watch list in all 12 monthly reports we hold (November 2025 to October 2026).
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
- The most recent valuation in the filing is $1.4B (February 26, 2026), against $2.1B at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $37.5M | Non performing matured balloon | Yes | n/a | n/a |
| September 2026 | $260.0M | Non performing matured balloon | Yes | 0.84x | 80% |
| August 2026 | $260.0M | Non performing matured balloon | Yes | 0.84x | 80% |
| July 2026 | $260.0M | Non performing matured balloon | Yes | 0.84x | 80% |
| June 2026 | $260.0M | Non performing matured balloon | Yes | 0.84x | 80% |
| May 2026 | $260.0M | Non performing matured balloon | Yes | 0.84x | 80% |
| April 2026 | $260.0M | Non performing matured balloon | Yes | 0.78x | 80% |
| March 2026 | $260.0M | Non performing matured balloon | Yes | 0.78x | 80% |
| February 2026 | $260.0M | Non performing matured balloon | Yes | 0.78x | 80% |
| January 2026 | $260.0M | Non performing matured balloon | Yes | 0.78x | 80% |
| December 2025 | $260.0M | Non performing matured balloon | Yes | 0.78x | 80% |
| November 2025 | $260.0M | Non performing matured balloon | Yes | 0.78x | 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.
Special-servicing history
- Transferred to the special servicer March 14, 2024, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
The loan is split into 6 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2020-C6 | 1 | $65,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BBCMS Mortgage Trust 2020-C7 | 1 | $60,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| Benchmark 2020-IG1 Mortgage Trust | 10 | $45,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| GS Mortgage Securities Trust 2020-GC45 | 14 | $37,500,000 | Oct 2026 | SEC filing, October 22, 2026 |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2020-GC46 | 18 | $27,500,000 | Sep 2026 | SEC filing, September 30, 2026 |
| Wells Fargo Commercial Mortgage Trust 2020-C56 | 13 | $25,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2024
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 225 Bush Street | San Francisco, CA | Office | $138.6M | 3.303% | Nov 2024 | n/a | n/a | Past maturity and not performing |
| 225 Bush | San Francisco, CA | Office | $35.0M | 3.303% | Nov 2024 | 1.20x | 43% | Past maturity and not performing |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting periods ending September 11, 2026, October 9, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.