Mixed use · Pasadena, California
Star News
Star News is financed with a $16.6M CMBS loan at 7.39% that reaches maturity on March 6, 2029, in 2 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $16,600,000
- Original balance (same notes)
- $16,600,000
- Interest rate
- 7.39% fixed
- Originated
- February 9, 2024
- Maturity
- March 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 5, 2028
- 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
- 525 East Colorado Boulevard 473 East Union Street, Pasadena, CA 91101
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 64,044 sq ft
- Built
- 1925, renovated 2010
- Largest tenants
- Wake & Late Restaurants LLC; 24 Hour Fitness, Inc.; Whitemoon Dreams, Inc.
- Value at securitization
- $29.9M (Dec 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.48x | 0.79x |
| Occupancy | 88% | 89% |
| Net operating income | $1.8M | $977K |
| Debt yield | 5.9% |
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 Benchmark 2024-V6 Mortgage Trust 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
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since July 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
- Net operating income is 47% below the underwritten figure ($977K a year against $1.8M).
- Debt service coverage moved from 1.48x at securitization to 0.79x on the latest statements.
- At 0.79x, 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 | $16.6M | Current | No | 0.79x | 89% |
| August 2026 | $16.6M | Current | No | 0.79x | 89% |
| July 2026 | $16.6M | Current | No | 0.79x | 89% |
| June 2026 | $16.6M | Current | No | n/a | n/a |
| May 2026 | $16.6M | Current | No | n/a | n/a |
| April 2026 | $16.6M | Current | No | 0.83x | 73% |
| March 2026 | $16.6M | Current | No | 0.83x | 73% |
| February 2026 | $16.6M | Current | No | 0.83x | 73% |
| January 2026 | $16.6M | 30-59 days delinquent | No | 0.83x | 73% |
| December 2025 | $16.6M | Late payment but less than 30 days delinquent | No | 0.83x | 73% |
| November 2025 | $16.6M | Current | No | 0.83x | 73% |
| October 2025 | $16.6M | Current | No | 0.94x | 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.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Benchmark 2024-V6 Mortgage Trust | 24 | $16,600,000 | 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.