Mixed use · Oxnard, California
The Palms Marketplace
The Palms Marketplace is financed with a $23.5M CMBS loan at 6.545% that reaches maturity on November 6, 2029, in 3 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $23,500,000
- Original balance (same notes)
- $23,500,000
- Interest rate
- 6.545% fixed
- Originated
- October 9, 2024
- Maturity
- November 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 5, 2025
- Prepayment premium ends
- May 5, 2029 (yield maintenance)
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 2000, 2100,2200,2201 Outlet Center Drive, Oxnard, CA 93036
- Metro
- Oxnard-Thousand Oaks-Ventura, CA
- Built
- 1994
- Largest tenants
- CALIFORNIA LUTHERAN UNIVERSITY; COUNTY OF VENTURA; CHARTER COLLEGE, LLC
- Value at securitization
- $47.3M (Sep 2024)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 2.13x | n/a |
| Occupancy | 100% | n/a |
| Net operating income | $3.3M | n/a |
Watch flags
Computed from the BBCMS Mortgage Trust 2024-5C31 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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
- The filing gives Aug 2028 as the lease end date for the largest tenant (CALIFORNIA LUTHERAN UNIVERSITY), 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 | $23.5M | Current | No | n/a | n/a |
| August 2026 | $23.5M | Current | No | n/a | n/a |
| July 2026 | $23.5M | Current | No | n/a | n/a |
| June 2026 | $23.5M | Current | No | n/a | n/a |
| May 2026 | $23.5M | Current | No | n/a | n/a |
| April 2026 | $23.5M | Current | No | 2.15x | 90% |
| March 2026 | $23.5M | Current | No | 2.15x | 90% |
| February 2026 | $23.5M | Current | No | 2.17x | 90% |
| January 2026 | $23.5M | Current | No | 2.17x | 90% |
| December 2025 | $23.5M | Current | No | 2.13x | 90% |
| November 2025 | $23.5M | Current | No | 2.13x | 94% |
| October 2025 | $23.5M | Current | No | 2.13x | 94% |
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 2024-5C31 | 15 | $23,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Oxnard-Thousand Oaks-Ventura loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Montalvo Square | Venura, CA | Retail | $55.0M | 3.87% | Jul 2029 | 2.33x | 94% | Current |
| One Westlake | Thousand Oaks, CA | Office | $33.1M | 6.802% | Oct 2029 | n/a | n/a | Current |
| 2801 & 2815 Townsgate | Thousand Oaks, CA | Office | $27.5M | 7.27% | Jun 2029 | 1.73x | 80% | Current |
| Tops Self Storage | Thousand Oaks, CA | Self storage | $26.1M | 5.00% | Jun 2029 | 1.74x | 94% | Current |
| El Paseo Simi | Simi Valley, CA | Retail | $23.6M | 3.32% | Aug 2029 | 2.78x | 95% | Current |
| Westlake Village Marketplace | Westlake Village, CA | Retail | $18.0M | 3.115% | Dec 2029 | 5.46x | 100% | Current |
| Conejo Valley Plaza | Thousand Oaks, CA | Retail | $15.7M | 5.03% | Mar 2029 | 1.69x | 100% | Current |
| Oxnard Port Place Shoppes | Oxnard, CA | Retail | $9.0M | 3.83% | Dec 2029 | 2.97x | 96% | Current |
All loans maturing in 2029 · All Oxnard-Thousand Oaks-Ventura 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.