Mixed use · Petaluma, California
Redwood Technology Center
Public CMBS trusts hold $16.0M of the loan on Redwood Technology Center at 4.522% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $16,023,581
- Original balance (same notes)
- $16,500,000
- Interest rate
- 4.522% fixed
- Originated
- November 8, 2019
- Maturity
- November 6, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- July 5, 2029
- Master servicer
- Trimont LLC
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1383 and 1385 North Mcdowell Avenue and 1201 Redwood Way, Petaluma, CA 94954
- Metro
- Santa Rosa-Petaluma, CA
- Rentable area
- 154,611 sq ft
- Built
- 2007
- Largest tenants
- SANTA ROSA ORTHOPAEDIC MEDICAL GROUP; FRIEDMANS HOME IMPROVEMENT; Sutter West Bay Medical
- Value at securitization
- $51.0M (Oct 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.60x | 0.67x |
| Occupancy | 94% | 52% |
| Net operating income (annualized from 6 months) | $3.6M | $1.5M |
| Debt yield | 9.4% |
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 UBS Commercial Mortgage Trust 2019-C18 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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
- Occupancy has fallen from 94% when the loan was securitized to 52%.
- Net operating income is 58% below the underwritten figure ($1.5M a year against $3.6M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.60x at securitization to 0.67x on the latest statements.
- At 0.67x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $16.0M | Current | No | 0.67x | 52% |
| August 2026 | $16.0M | Current | No | 0.80x | 55% |
| July 2026 | $16.1M | Current | No | 0.80x | 55% |
| June 2026 | $16.1M | Current | No | 0.80x | 55% |
| May 2026 | $16.1M | Current | No | 0.77x | 55% |
| April 2026 | $16.1M | Current | No | 0.77x | 55% |
| March 2026 | $16.2M | Current | No | 0.77x | 55% |
| February 2026 | $16.2M | Current | No | 0.77x | 55% |
| January 2026 | $16.2M | Current | No | 0.78x | 55% |
| December 2025 | $16.2M | Current | No | 0.78x | 55% |
| November 2025 | $16.2M | Current | No | 0.78x | 55% |
| October 2025 | $16.3M | Current | No | 0.90x | 56% |
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 |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2019-C18 | 15 | $6,312,320 | Sep 2026 | SEC filing, September 28, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 15A | $4,855,630 | Sep 2026 | SEC filing, September 28, 2026 |
| UBS Commercial Mortgage Trust 2019-C18 | 15B | $4,855,630 | Sep 2026 | SEC filing, September 28, 2026 |
Other Santa Rosa-Petaluma loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Redwood Tech Center | Petaluma, CA | Office | $19.4M | 4.522% | Nov 2029 | 0.80x | 53% | Late, less than 30 days |
| Petaluma Marina Business Center | Petaluma, CA | Office | $13.2M | 6.99% | Oct 2029 | 1.41x | 77% | Current |
| Lakewood Center | Windsor, CA | Retail | $12.8M | 5.44% | Jan 2029 | 1.81x | 100% | Current |
| Up Valley Inn & Hot Springs | Calistoga, CA | Hotel | $7.9M | 4.45% | Sep 2029 | 1.75x | 69% | Current |
| Walkham Townhomes | Santa Rosa, CA | Multifamily | $6.7M | 3.93% | Dec 2029 | 1.70x | 89% | Current |
| Scott Labs - Petaluma | Petaluma, CA | Industrial | $5.6M | 4.61% | May 2029 | 2.35x | 100% | Current |
| Larkfield Self Storage | Santa Rosa, CA | Self storage | $3.9M | 4.78% | Jun 2029 | 3.18x | 98% | 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.