Retail · Thousand Oaks, California
Plaza Hillcrest
Plaza Hillcrest is financed with a $11.0M CMBS loan at 4.079% that reaches maturity on February 11, 2032, in 5 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
- $11,000,000
- Original balance (same notes)
- $11,000,000
- Interest rate
- 4.079% fixed
- Originated
- January 31, 2022
- Maturity
- February 11, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 10, 2031
- Master servicer
- Midland Loan Services
- Originator
- DBR Investments Co. Limited
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 11 East Hillcrest Drive 25 East Hillcrest Drive, 180 N. Moorpark Road, Thousand Oaks, CA 91360
- Metro
- Oxnard-Thousand Oaks-Ventura, CA
- Rentable area
- 33,708 sq ft
- Built
- 1962, renovated 2002
- Largest tenants
- Grocery Outlet Inc.; WESCOM Central Credit Union; BMO Harris Bank N.A.
- Value at securitization
- $17.0M (Aug 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.21x | 2.42x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $1.0M | $2.2M |
| Debt yield | 20.1% |
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 2022-B33 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 120% above the underwritten figure ($2.2M a year against $1.0M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.21x at securitization to 2.42x on the latest statements.
- The filing gives Jan 2032 as the lease end date for the largest tenant (Grocery Outlet Inc.), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.0M | Current | No | 2.42x | 100% |
| August 2026 | $11.0M | Current | No | 2.42x | 100% |
| July 2026 | $11.0M | Current | No | n/a | n/a |
| June 2026 | $11.0M | Current | No | n/a | n/a |
| May 2026 | $11.0M | Current | No | n/a | n/a |
| April 2026 | $11.0M | Current | No | 2.27x | 100% |
| March 2026 | $11.0M | Current | No | 2.27x | 100% |
| February 2026 | $11.0M | Current | No | 2.27x | 100% |
| January 2026 | $11.0M | Current | No | 2.25x | 100% |
| December 2025 | $11.0M | Current | No | 2.25x | 100% |
| November 2025 | $11.0M | Current | No | 2.25x | 100% |
| October 2025 | $11.0M | Current | No | 2.32x | 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
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2022-B33 Mortgage Trust | 26 | $11,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Oxnard-Thousand Oaks-Ventura loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Pacific View | Ventura, CA | Retail | $69.7M | 5.29% | May 2032 | 1.88x | 81% | Current |
| Homewood Suites - Oxnard, Ca | Oxnard, CA | Hotel | $27.9M | 5.84% | Aug 2032 | 2.34x | 68% | Current |
| Townsgate Office | Westlake Village, CA | Office | $15.3M | 3.827% | Apr 2032 | 0.66x | 53% | Current |
| Bryant Circle Self Storage | Ojai, CA | Self storage | $6.0M | 3.82% | Mar 2032 | 3.57x | 90% | 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.