Office · San Diego, California
Rio San Diego
Rio San Diego is financed with a $10.5M CMBS loan at 3.65% 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
- $10,500,000
- Original balance (same notes)
- $10,500,000
- Interest rate
- 3.65% fixed
- Originated
- September 28, 2020
- Maturity
- October 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2030
- Originator
- Societe Generale Financial Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 8989 Rio San Diego Drive, San Diego, CA 92108
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Rentable area
- 78,924 sq ft
- Built
- 1989
- Largest tenants
- Considine & Considine; Dept Veterans Affairs; Civic San Diego
- Value at securitization
- $21.3M (Aug 2020)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 3.84x | 3.32x |
| Occupancy | 86% | 97% |
| Net operating income (annualized from 6 months) | $1.5M | $2.6M |
| Debt yield | 24.7% |
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 BBCMS Mortgage Trust 2020-C8 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
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 risen from 86% when the loan was securitized to 97%.
- Net operating income is 74% above the underwritten figure ($2.6M a year against $1.5M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.84x at securitization to 3.32x on the latest statements.
- The filing gives Jun 2026 as the lease end date for the largest tenant (Considine & Considine), 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 | $10.5M | Current | No | 3.32x | 97% |
| August 2026 | $10.5M | Current | No | 3.32x | 97% |
| July 2026 | $10.5M | Current | No | n/a | n/a |
| June 2026 | $10.5M | Current | No | n/a | n/a |
| May 2026 | $10.5M | Current | No | n/a | n/a |
| April 2026 | $10.5M | Current | No | 4.77x | 97% |
| March 2026 | $10.5M | Current | No | 4.77x | 97% |
| February 2026 | $10.5M | Current | No | 4.72x | 100% |
| January 2026 | $10.5M | Current | No | 4.72x | 100% |
| December 2025 | $10.5M | Current | No | 4.29x | 100% |
| November 2025 | $10.5M | Current | No | 4.29x | 100% |
| October 2025 | $10.5M | Current | No | 4.29x | 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 |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2020-C8 | 21 | $10,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| El Camino Real | Encinitas, CA | Office | $84.5M | 4.195% | Oct 2030 | n/a | n/a | Current |
| 501 West Broadway | San Diego, CA | Office | $47.0M | 6.329% | Sep 2030 | 2.30x | 77% | Current |
| Muse at Torrey Pines | San Diego, CA | Mixed use | $45.0M | 5.496% | Mar 2030 | 2.91x | 100% | Current |
| Aladdin Airport Parking | San Diego, CA | Other | $40.0M | 6.845% | Apr 2030 | 2.81x | n/a | Current |
| The Lafayette Hotel | San Diego, CA | Hotel | $35.3M | 5.28% | Aug 2030 | n/a | n/a | Current |
| Technology Place | San Diego, CA | Office | $25.9M | 4.00% | Aug 2030 | 2.21x | 100% | Current |
| 225 Broadway | San Diego, CA | Office | $23.3M | 5.964% | Jul 2030 | 4.92x | 79% | Current |
| Courtyard Marriott Solana Beach | Solana Beach, CA | Hotel | $22.6M | 3.60% | Mar 2030 | 2.77x | 79% | Current |
All loans maturing in 2030 · All San Diego-Chula Vista-Carlsbad 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.