Manufactured housing portfolio, 8 properties · Trinidad, California
Trinidad RV & Emerald Forest RV & Campground
This portfolio is financed with a $34.0M CMBS loan at 5.93% that reaches maturity on May 6, 2032, in 5 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $34,000,000
- Original balance (same notes)
- $34,000,000
- Interest rate
- 5.93% fixed
- Originated
- April 14, 2022
- Maturity
- May 6, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 5, 2032
- Master servicer
- Midland Loan Services
- Originator
- Starwood Mortgage Capital LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 51 Midway Drive 753 Patricks Point Drive, Trinidad, CA 95570
- Value at securitization
- $65.1M
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | n/a | n/a |
| Occupancy | n/a | n/a |
| Net operating income | $3.1M | $428K |
| Debt yield | 1.3% |
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 BBCMS Mortgage Trust 2022-C16 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- NOI down 20% 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
- Net operating income is 86% below the underwritten figure ($428K a year against $3.1M).
Properties securing the loan
| Property | Location | Type | Occupancy | DSCR |
|---|---|---|---|---|
| Trinidad RV & Emerald Forest RV & Campground | Trinidad, CA | Mobile Home Park | n/a | n/a |
| Hacienda RV Resort | Las Cruces, NM | Mobile Home Park | n/a | n/a |
| Gardena MHC & Apts | Gardena, CA | Mobile Home Park | n/a | n/a |
| Fairmont MHC | North Charleston, SC | Mobile Home Park | 100% | 1.78x |
| Gansett MHC | Rumford, RI | Mobile Home Park | n/a | n/a |
| Elsinore Hills RV Park | Lake Elsinore, CA | Mobile Home Park | n/a | n/a |
| Flying A MHC | Red Bluff, CA | Mobile Home Park | n/a | n/a |
| Golden Arrow MHC | Ontario, CA | Mobile Home Park | n/a | n/a |
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $34.0M | Current | No | n/a | n/a |
| August 2026 | $34.0M | Current | No | n/a | n/a |
| July 2026 | $34.0M | Current | No | n/a | n/a |
| June 2026 | $34.0M | Current | No | n/a | n/a |
| May 2026 | $34.0M | Current | No | n/a | n/a |
| April 2026 | $34.0M | Current | No | 1.42x | 96% |
| March 2026 | $34.0M | Current | No | 1.42x | 96% |
| February 2026 | $34.0M | Current | No | 1.42x | 96% |
| January 2026 | $34.0M | Current | No | 1.42x | 96% |
| December 2025 | $34.0M | Current | No | 1.42x | 96% |
| November 2025 | $34.0M | Current | No | 1.42x | 96% |
| October 2025 | $34.0M | Current | No | 1.42x | 96% |
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 2022-C16 | 10 | $34,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other California loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Wilshire, Los Angeles (2032 maturity) | Los Angeles, CA | Office | $196.0M | 2.776% | Jan 2032 | 3.29x | 61% | Current |
| Rialto Industrial | Rialto, CA | Industrial | $181.0M | 7.61% | Dec 2032 | n/a | n/a | Late, less than 30 days |
| Coleman Highline Phase IV, San Jose (2032 maturity) | San Jose, CA | Office | $174.0M | 2.494% | Apr 2032 | 2.77x | 100% | Current |
| The Reef | Los Angeles, CA | Mixed use | $150.0M | 5.425% | May 2032 | n/a | n/a | Current |
| Uci Research Park Phases 12 & 13 | Irvine, CA | Office | $150.0M | 3.126% | Mar 2032 | 3.54x | 97% | Current |
| 3075 Olcott | Santa Clara, CA | Office | $142.0M | 5.10% | Apr 2032 | 1.61x | 100% | Current |
| The Lion Building | San Francisco, CA | Mixed use | $100.0M | 5.197% | Jul 2032 | 2.21x | 100% | Current |
| 417 & 433 West 164th Street | Gardena, CA | Industrial | $93.5M | 5.00% | Aug 2032 | n/a | n/a | 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.