Retail · San Mateo, California
Tan Central Park Retail
Tan Central Park Retail is financed with a $14.0M CMBS loan at 6.55% that reaches maturity on June 6, 2034, in 7 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
- 6.55% fixed
- Originated
- June 6, 2024
- Maturity
- June 6, 2034
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- March 5, 2034
- Master servicer
- Midland
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2-98 East 4th Avenue, San Mateo, CA 94401
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 87,562 sq ft
- Built
- 1955, renovated 1993
- Largest tenants
- Equinox Fitness San Mateo Inc; SCOTTS VALLEY CYCLE SPORT,; A Diamond Production
- Value at securitization
- $41.7M (Apr 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.17x | 2.77x |
| Occupancy | 90% | 100% |
| Net operating income (annualized from 6 months) | $2.3M | $5.2M |
| Debt yield | 37.0% |
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 2024-C9 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
- Occupancy has risen from 90% when the loan was securitized to 100%.
- Net operating income is 124% above the underwritten figure ($5.2M a year against $2.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.17x at securitization to 2.77x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $14.0M | Current | No | 2.77x | 100% |
| August 2026 | $14.0M | Current | No | n/a | n/a |
| July 2026 | $14.0M | Current | No | n/a | n/a |
| June 2026 | $14.0M | Current | No | n/a | n/a |
| May 2026 | $14.0M | Current | No | n/a | n/a |
| April 2026 | $14.0M | Current | No | 2.52x | 97% |
| March 2026 | $14.0M | Current | No | 2.52x | 97% |
| February 2026 | $14.0M | Current | No | 2.52x | 97% |
| January 2026 | $14.0M | Current | No | 2.63x | 97% |
| December 2025 | $14.0M | Current | No | 2.63x | 97% |
| November 2025 | $14.0M | Current | No | 2.47x | n/a |
| October 2025 | $14.0M | Current | No | 2.47x | n/a |
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 2024-C9 Mortgage Trust | 19 | $14,000,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2034
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Park Tower at Transbay | San Francisco, CA | Office | $435.0M | 3.45% | Aug 2034 | 3.43x | 99% | Current |
| Visa Global Hq, San Francisco (2034 maturity), loan 4 in BANK 2024-BNK48 | San Francisco, CA | Office | $168.0M | 5.506% | Sep 2034 | 1.97x | 98% | Current |
| 47071 Bayside Parkway | Fremont, CA | Office | $57.0M | 6.864% | Jun 2034 | n/a | n/a | Current |
| VISA Global HQ, San Francisco (2034 maturity), loan 6 in BANK 2025-BNK49 | San Francisco, CA | Office | $55.0M | 5.506% | Sep 2034 | 1.97x | 98% | Current |
| Uovo Livermore | Livermore, CA | Self storage | $9.5M | 6.48% | Mar 2034 | 1.91x | 100% | 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.