Retail · Sherman Oaks, California
Sherman Oaks First Plaza
Sherman Oaks First Plaza is financed with a $13.9M CMBS loan at 7.869% that reaches maturity on February 11, 2029, in 2 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer.
The loan
- Balance in tracked trusts
- $13,944,121
- Original balance (same notes)
- $14,000,000
- Interest rate
- 7.869% fixed
- Originated
- February 8, 2024
- Maturity
- February 11, 2029
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ends
- August 10, 2028
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- Transferred April 20, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 14423-14457 Ventura Boulevard, Sherman Oaks, CA 91423
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 62,483 sq ft
- Built
- 1979, renovated 2022
- Largest tenants
- El Torito Restaurant; Reins International California Inc; Sunergy Solar Inc.
- Value at securitization
- $30.0M (Sep 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.45x | 1.52x |
| Occupancy | 83% | 83% |
| Net operating income (annualized from 3 months) | $1.8M | $1.8M |
| Debt yield | 12.9% |
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 BANK5 Trust 2024-5YR6 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- With the special servicer
On the cmbs.news watch list in every report since May 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
- The most recent valuation in the filing is $22.5M (June 20, 2026), against $30.0M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $13.9M | Late payment but less than 30 days delinquent | Yes | 1.52x | 83% |
| August 2026 | $14.0M | Late payment but less than 30 days delinquent | Yes | 1.52x | 83% |
| July 2026 | $14.0M | Late payment but less than 30 days delinquent | Yes | 1.52x | 83% |
| June 2026 | $14.0M | Current | Yes | 1.52x | 83% |
| May 2026 | $14.0M | Late payment but less than 30 days delinquent | Yes | 1.52x | 83% |
| April 2026 | $14.0M | Current | No | 1.39x | 88% |
| March 2026 | $14.0M | Current | No | 1.39x | 88% |
| February 2026 | $14.0M | Current | No | 1.39x | 88% |
| January 2026 | $14.0M | Current | No | 1.38x | 83% |
| December 2025 | $14.0M | Current | No | 1.38x | 83% |
| November 2025 | $14.0M | Current | No | 1.49x | 88% |
| October 2025 | $14.0M | Current | No | 1.49x | 88% |
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.
Special-servicing history
- Transferred to the special servicer April 20, 2026, still there.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 Trust 2024-5YR6 | 22 | $13,944,121 | Sep 2026 | SEC filing, September 28, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Century Plaza Towers | Los Angeles, CA | Office | $375.0M | 3.004% | Nov 2029 | n/a | n/a | Current |
| The Tower at Burbank | Burbank, CA | Office | $195.0M | 3.13% | Aug 2029 | 2.13x | 74% | Current |
| Great Wolf Lodge Southern California | Garden Grove, CA | Hotel | $150.0M | 5.253% | Mar 2029 | 1.89x | 77% | Current |
| The Alhambra | Alhambra, CA | Office | $150.0M | 4.22% | May 2029 | 2.33x | 81% | Current |
| 9201 West Sunset Boulevard | West Hollywood, CA | Mixed use | $135.0M | 4.445% | May 2029 | n/a | n/a | Current |
| Ford Factory | Los Angeles, CA | Office | $135.0M | 4.52% | Apr 2029 | 2.41x | 100% | Current |
| Marriott Anaheim | Anaheim, CA | Hotel | $125.0M | 6.373% | Jun 2029 | 1.23x | 73% | Current |
| 888 Figueroa | Los Angeles, CA | Office | $115.0M | 3.725% | Jul 2029 | 1.45x | 75% | Current |
All loans maturing in 2029 · 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.