Mixed use · Malibu, California
The Center at Carbon Beach
The Center at Carbon Beach is financed with a $12.8M CMBS loan at 4.828% that reaches maturity on September 6, 2028, in 22 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $12,750,000
- Original balance (same notes)
- $12,750,000
- Interest rate
- 4.828% fixed
- Originated
- August 30, 2018
- Maturity
- September 6, 2028
- Payments
- Amortizing
- Prepayment lockout ends
- June 5, 2028
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Not reported
- Special servicing
- Transferred August 11, 2020, returned July 15, 2021
- Workout strategy
- Resolved
- Modified
- Yes, most recently April 5, 2021
- Defeasance
- None reported
The property
- Address
- 22601 Pacific Coast Highway, Malibu, CA 90265
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 20,102 sq ft
- Built
- 1991, renovated 2014
- Largest tenants
- Hank's Organic; The Agency; Spina Storage
- Value at securitization
- $21.6M (Jul 2018)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.76x |
| Occupancy | 100% | 97% |
| Net operating income | n/a | $472K |
| Debt yield | 3.7% |
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 Benchmark 2018-B7 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage below 1.00x
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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
- Occupancy has fallen from 100% when the loan was securitized to 97%.
- At 0.76x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $10.0M (September 25, 2020), against $21.6M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $12.8M | Not reported | No | 0.76x | 97% |
| August 2026 | $12.8M | Not reported | No | 0.76x | 97% |
| July 2026 | $12.8M | Not reported | No | 0.76x | 97% |
| June 2026 | $12.8M | Not reported | No | 0.72x | 97% |
| May 2026 | $12.8M | Not reported | No | 0.72x | 97% |
| April 2026 | $12.8M | Not reported | No | 0.72x | 97% |
| March 2026 | $12.8M | Late payment but less than 30 days delinquent | No | 0.72x | 97% |
| February 2026 | $12.8M | Not reported | No | 0.63x | 97% |
| January 2026 | $12.8M | Not reported | No | 0.63x | 97% |
| December 2025 | $12.8M | Not reported | No | 0.63x | 97% |
| November 2025 | $12.8M | Not reported | No | 0.63x | 100% |
| October 2025 | $12.8M | Not reported | No | 0.73x | 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.
Special-servicing history
- Transferred to the special servicer August 10, 2020, returned to the master servicer July 15, 2021.
- Transferred to the special servicer August 11, 2020, returned to the master servicer July 15, 2021.
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 |
|---|---|---|---|---|
| Benchmark 2018-B7 Mortgage Trust | 32 | $12,750,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Los Angeles-Long Beach-Anaheim loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aliso Viejo Commerce Center | Aliso Viejo, CA | Mixed use | $174.2M | 4.89% | Feb 2028 | n/a | n/a | Current |
| Airport Business Center, Irvine | Irvine, CA | Industrial | $150.0M | 4.375% | Feb 2028 | 3.15x | 90% | Current |
| Atlantic Times Square | Monterey Park, CA | Mixed use | $98.0M | 4.845% | Apr 2028 | 1.62x | 91% | Current |
| 12800 Culver | Los Angeles, CA | Other | $84.8M | 6.533% | Jul 2028 | 2.60x | 100% | Current |
| Red Building | West Hollywood, CA | Office | $80.0M | 4.386% | Jan 2028 | 1.60x | 73% | Current |
| Aliso Creek Apartments | Aliso Viejo, CA | Multifamily | $63.0M | 3.519% | Apr 2028 | 6.37x | 96% | Current |
| 6420 Wilshire | Los Angeles, CA | Office | $62.0M | 4.276% | Jan 2028 | 0.93x | 72% | Current |
| Soho Warehouse DTLA | Los Angeles, CA | Mixed use | $61.3M | 7.83% | May 2028 | 1.48x | 100% | Current |
All loans maturing in 2028 · 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.