Retail · San Diego, California
Torrey Corner
Torrey Corner is financed with a $7.2M CMBS loan at 5.36% that reaches maturity on November 6, 2028, in 2 years. As of the Sep 2026 servicer report, the latest filed for this loan, its status is with the special servicer and 60-89 days delinquent.
The loan
- Balance in tracked trusts
- $7,218,001
- Original balance (same notes)
- $7,600,000
- Interest rate
- 5.36% fixed
- Originated
- October 10, 2018
- Maturity
- November 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- August 5, 2028
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- 60-89 days delinquent (code 2)
- Special servicing
- Transferred September 14, 2026
- Workout strategy
- TBD
- Defeasance
- None reported
The property
- Address
- 11120 & 11130 East Ocean Air Drive, San Diego, CA 92130
- Metro
- San Diego-Chula Vista-Carlsbad, CA
- Rentable area
- 13,344 sq ft
- Built
- 2007
- Largest tenants
- Body Fit; Carmel Sushi; Lavish Nails & Spa
- Value at securitization
- $12.6M (Jul 2018)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | n/a | 1.71x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 9 months) | n/a | $875K |
| Debt yield | 12.1% |
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.
- With the special servicer
- 30+ days delinquent or matured unpaid
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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.2M | 60-89 days delinquent | No | 1.71x | 100% |
| August 2026 | $7.2M | 30-59 days delinquent | No | 1.71x | 100% |
| July 2026 | $7.2M | 30-59 days delinquent | No | 1.71x | 100% |
| June 2026 | $7.2M | Late payment but less than 30 days delinquent | No | 1.71x | 100% |
| May 2026 | $7.2M | Late payment but less than 30 days delinquent | No | 1.71x | 100% |
| April 2026 | $7.2M | Late payment but less than 30 days delinquent | No | 1.71x | 100% |
| March 2026 | $7.3M | Late payment but less than 30 days delinquent | No | 1.71x | 100% |
| February 2026 | $7.3M | Not reported | No | 1.71x | 100% |
| January 2026 | $7.3M | Not reported | No | 1.45x | 100% |
| December 2025 | $7.3M | Not reported | No | 1.45x | 100% |
| November 2025 | $7.3M | 30-59 days delinquent | No | 1.45x | 100% |
| October 2025 | $7.3M | Late payment but less than 30 days delinquent | No | 1.45x | 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 September 14, 2026, still there.
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 | 41 | $7,218,001 | Sep 2026 | SEC filing, October 1, 2026 |
Other San Diego-Chula Vista-Carlsbad loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Liberty Station Retail | San Diego, CA | Retail | $117.0M | 5.23% | Dec 2028 | n/a | n/a | Current |
| Broadway Plaza | Chula Vista, CA | Retail | $41.0M | 4.672% | Jul 2028 | 1.93x | 100% | Current |
| Best Western Plus Hacienda Hotel | San Diego, CA | Hotel | $31.5M | 5.10% | Apr 2028 | 2.35x | 78% | Current |
| Mission Center | San Diego, CA | Office | $28.6M | 4.265% | Jun 2028 | 2.22x | 84% | Current |
| Residence Inn Chula Vista | Chula Vista, CA | Hotel | $25.4M | 5.35% | Dec 2028 | 2.33x | 88% | Current |
| The Ratner | San Diego, CA | Office | $24.5M | 4.045% | Apr 2028 | 0.75x | 41% | Current |
| Seville Plaza | San Diego, CA | Office | $18.8M | 4.67% | Aug 2028 | 1.93x | 100% | Current |
| Mercado Plaza and Brandywine | CA | Retail | $15.8M | 7.411% | Aug 2028 | 1.39x | 100% | Current |
All loans maturing in 2028 · All San Diego-Chula Vista-Carlsbad 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.