Office · Newport Beach, California
The Strand
The Strand is financed with a $13.5M CMBS loan at 5.071% that reaches maturity on November 6, 2028, in 2 years. As of the Oct 2026 servicer report its status is current.
The loan
- Balance in tracked trusts
- $13,500,000
- Original balance (same notes)
- $13,500,000
- Interest rate
- 5.071% fixed
- Originated
- October 10, 2018
- Maturity
- November 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- LoanCore Capital Markets LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3990 and 4000 Westerly Place, Newport Beach, CA 92648
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 47,578 sq ft
- Built
- 1972, renovated 2017
- Largest tenants
- RSI Insurance Brokers, Inc. (t0003455); Beaumont Juice, Inc. (t0003429); Steve K. Hong Architect, Inc. (t0004643)
- Value at securitization
- $21.0M (Sep 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.77x | 1.48x |
| Occupancy | 96% | 84% |
| Net operating income (annualized from 6 months) | $1.2M | $2.1M |
| Debt yield | 15.3% |
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 JPMCC Commercial Mortgage Securities Trust 2019-COR4 filing for the reporting period ending October 6, 2026, filed with the SEC October 21, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
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 96% when the loan was securitized to 84%.
- Net operating income is 69% above the underwritten figure ($2.1M a year against $1.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.77x at securitization to 1.48x on the latest statements.
- The filing gives Mar 2028 as the lease end date for the largest tenant (RSI Insurance Brokers, Inc. (t0003455)), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| October 2026 | $13.5M | Current | No | 1.48x | 84% |
| September 2026 | $13.5M | Late payment but less than 30 days delinquent | No | 1.52x | 84% |
| August 2026 | $13.5M | Current | No | 1.52x | 84% |
| July 2026 | $13.5M | Current | No | 1.52x | 84% |
| June 2026 | $13.5M | Current | No | 1.52x | 84% |
| May 2026 | $13.5M | Current | No | n/a | n/a |
| April 2026 | $13.5M | Current | No | 1.37x | 85% |
| March 2026 | $13.5M | Current | No | 1.37x | 85% |
| February 2026 | $13.5M | Current | No | 1.34x | 85% |
| January 2026 | $13.5M | Current | No | 1.34x | 89% |
| December 2025 | $13.5M | Current | No | 1.32x | 89% |
| November 2025 | $13.5M | Current | No | 1.32x | 89% |
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 |
|---|---|---|---|---|
| JPMCC Commercial Mortgage Securities Trust 2019-COR4 | 20 | $13,500,000 | Oct 2026 | SEC filing, October 21, 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 October 6, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.