Office · Corte Madera, California
Rh Hq
Rh Hq is financed with a $14.0M CMBS loan at 5.38% that reaches maturity on June 5, 2029, in 2 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $14,000,000
- Original balance (same notes)
- $14,000,000
- Interest rate
- 5.38% fixed
- Originated
- n/a
- Maturity
- June 5, 2029
- Payments
- Amortizing
- Master servicer
- KeyBank Real Estate Capital
- Originator
- 3650 REIT
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 5725 Paradise Drive, Corte Madera, CA 94925
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 97,951 sq ft
- Built
- 1997
- Largest tenants
- RH USA
- Value at securitization
- $42.5M (Jan 2022)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 2.41x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 9 months) | n/a | $3.8M |
| Debt yield | 27.4% |
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 BMO 2023-5C1 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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
- The filing gives May 2028 as the lease end date for the largest tenant (RH USA), 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 | $14.0M | Not reported | No | 2.41x | 100% |
| August 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| July 2026 | $14.0M | Late payment but less than 30 days delinquent | No | 2.41x | 100% |
| June 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| May 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| April 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| March 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| February 2026 | $14.0M | Not reported | No | 2.41x | 100% |
| January 2026 | $14.0M | Not reported | No | 2.40x | 100% |
| December 2025 | $14.0M | Not reported | No | 2.40x | 100% |
| November 2025 | $14.0M | Not reported | No | 2.40x | 100% |
| October 2025 | $14.0M | Not reported | No | 2.40x | 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 |
|---|---|---|---|---|
| BMO 2023-5C1 Mortgage Trust | 20A-2 | $14,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 560 Mission Street | San Francisco, CA | Office | $300.0M | 2.589% | Dec 2029 | 2.37x | 97% | Current |
| 101 California Street | San Francisco, CA | Office | $200.0M | 3.85% | Mar 2029 | 1.60x | 91% | Current |
| 350 Bush Street | San Francisco, CA | Office | $185.0M | 3.912% | May 2029 | 4.63x | 100% | Current |
| 188 Spear Street | San Francisco, CA | Office | $125.0M | 3.57% | Jun 2029 | 3.57x | 97% | With the special servicer |
| Nema San Francisco | San Francisco, CA | Multifamily | $75.0M | 4.436% | Feb 2029 | 1.34x | 97% | Current |
| One Stockton | San Francisco, CA | Retail | $66.0M | 4.04% | Dec 2029 | -0.37x | 100% | Current |
| Pleasanton Corporate Commons | Pleasanton, CA | Mixed use | $65.8M | 7.78% | May 2029 | 1.88x | 100% | Current |
| Central Tower | San Francisco, CA | Office | $63.7M | 4.06% | May 2029 | 1.11x | 34% | With the special servicer and 90+ days delinquent |
All loans maturing in 2029 · All San Francisco-Oakland-Fremont 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.