Retail · Santa Monica, California
Patagonia Third Street Promenade
Patagonia Third Street Promenade is financed with a $17.0M CMBS loan at 6.60% that reaches maturity on October 1, 2030, in 3 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $17,000,000
- Original balance (same notes)
- $17,000,000
- Interest rate
- 6.60% fixed
- Originated
- September 12, 2025
- Maturity
- October 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2030
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1343-1349 Third Street Promenade, Santa Monica, CA 90401
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 21,557 sq ft
- Built
- 1926, renovated 2023
- Largest tenants
- Great Pacific Iron Works; Wilson Sporting Goods Co.; Hat World Inc.
- Value at securitization
- $27.0M (Mar 2025)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.49x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $1.7M | n/a |
Watch flags
Computed from the BANK5 2025-5YR17 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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $17.0M | Current | No | n/a | n/a |
| August 2026 | $17.0M | Current | No | n/a | n/a |
| July 2026 | $17.0M | Current | No | n/a | n/a |
| June 2026 | $17.0M | Current | No | n/a | n/a |
| May 2026 | $17.0M | Current | No | n/a | n/a |
| April 2026 | $17.0M | Current | No | n/a | n/a |
| March 2026 | $17.0M | Current | No | n/a | n/a |
| February 2026 | $17.0M | Current | No | n/a | n/a |
| January 2026 | $17.0M | Current | No | n/a | n/a |
| December 2025 | $17.0M | Current | No | n/a | n/a |
| November 2025 | $17.0M | Current | No | n/a | n/a |
| October 2025 | $17.0M | Payment not received but still in grace period or not yet due | No | 1.47x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2025-5YR17 | 21 | $17,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Amazon LAX | Los Angeles, CA | Industrial | $116.3M | 5.509% | Dec 2030 | 1.73x | 100% | Current |
| Amazon West LA | Los Angeles, CA | Retail | $75.0M | 2.77% | Nov 2030 | 4.55x | 100% | Current |
| City National Plaza | Los Angeles, CA | Office | $70.0M | 2.44% | Apr 2030 | 4.53x | 81% | Current |
| Koreatown Plaza | Los Angeles, CA | Retail | $70.0M | 6.03% | Dec 2030 | n/a | n/a | Current |
| 29903 Agoura Property | Agoura, CA | Office | $67.2M | 4.193% | Feb 2030 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Equinox Sports Club La | Los Angeles, CA | Retail | $66.4M | 6.717% | Jul 2030 | 1.46x | 100% | Current |
| Century Business Center | Hawthorne, CA | Industrial | $63.2M | 6.635% | Jun 2030 | n/a | n/a | Current |
| Figueroa Tower | Los Angeles, CA | Office | $53.6M | 7.519% | Jan 2030 | n/a | n/a | Current |
All loans maturing in 2030 · All Los Angeles-Long Beach-Anaheim 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.