Office · Irvine, California
Uci Research Park Phases 12 & 13
Public CMBS trusts hold $150.0M of the loan on Uci Research Park Phases 12 & 13 at 3.126% that reaches maturity on March 1, 2032, in 5 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $150,000,000
- Original balance (same notes)
- $150,000,000
- Interest rate
- 3.126% fixed
- Originated
- February 4, 2022
- Maturity
- March 1, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ended
- May 31, 2024
- Prepayment premium ends
- October 31, 2031 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5260, 5270, 5271, 5281, 5290, 5291, 5300 and 5301 California Avenue, Irvine, CA 92618
- Metro
- Los Angeles-Long Beach-Anaheim, CA
- Rentable area
- 686,276 sq ft
- Built
- 2007, renovated 2019
- Largest tenants
- Covidien LP; SKYWORKS SOLUTIONS INC.; The Regents of the University
- Value at securitization
- $300.0M (Jan 2022)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 3.83x | 3.54x |
| Occupancy | 100% | 97% |
| Net operating income (annualized from 6 months) | $18.2M | $16.8M |
| Debt yield | 11.2% |
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 BANK 2022-BNK40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x 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 100% when the loan was securitized to 97%.
- Net operating income is 8% below the underwritten figure ($16.8M a year against $18.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 3.83x at securitization to 3.54x on the latest statements.
- The filing gives Jun 2031 as the lease end date for the largest tenant (Covidien LP), 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 | $150.0M | Current | No | 3.54x | 97% |
| August 2026 | $150.0M | Current | No | 3.54x | 97% |
| July 2026 | $115.4M | Current | No | 5.86x | 100% |
| June 2026 | $146.0M | Current | No | 3.51x | 93% |
| May 2026 | $150.0M | Current | No | 3.51x | 93% |
| April 2026 | $150.0M | Current | No | 4.11x | 94% |
| March 2026 | $150.0M | Current | No | 4.11x | 94% |
| February 2026 | $150.0M | Current | No | 4.11x | 94% |
| January 2026 | $150.0M | Current | No | 4.11x | 94% |
| December 2025 | $150.0M | Current | No | 4.11x | 94% |
| November 2025 | $150.0M | Current | No | 4.11x | 94% |
| October 2025 | $150.0M | Current | No | 3.85x | 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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2022-BNK40 | 4 | $80,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
| BANK 2022-BNK41 | 7 | $50,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
| BANK 2022-BNK40 | 4A | $20,000,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Los Angeles-Long Beach-Anaheim 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 |
| The Reef | Los Angeles, CA | Mixed use | $150.0M | 5.425% | May 2032 | n/a | n/a | Current |
| 417 & 433 West 164th Street | Gardena, CA | Industrial | $93.5M | 5.00% | Aug 2032 | n/a | n/a | Current |
| Romaine & Orange Square | Los Angeles, CA | Office | $68.0M | 4.44% | Apr 2032 | 1.69x | 91% | Current |
| 935-953 Sycamore | Los Angeles, CA | Mixed use | $60.0M | 5.44% | Aug 2032 | 1.83x | 96% | Current |
| The Garland Hotel | North Hollywood, CA | Hotel | $45.0M | 5.64% | Jul 2032 | 2.62x | 83% | Current |
| Whizin Market Square | Agoura Hills, CA | Retail | $40.3M | 4.76% | Apr 2032 | 1.74x | 98% | Current |
| Cerritos Center Court | Cerritos, CA | Office | $34.0M | 5.314% | Jul 2032 | 2.02x | 100% | 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.