Multifamily · San Francisco, California
Ventana Residences
Ventana Residences is financed with a $73.5M CMBS loan at 6.166% that reaches maturity on February 11, 2035, in 8 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $73,500,000
- Original balance (same notes)
- $73,500,000
- Interest rate
- 6.166% fixed
- Originated
- January 29, 2025
- Maturity
- February 11, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 10, 2034
- Master servicer
- Trimont LLC
- Originator
- WFB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 99 Ocean Avenue and 1820 Alemany Boulevard, San Francisco, CA 94112
- Metro
- San Francisco-Oakland-Fremont, CA
- Units, rooms or beds
- 193
- Built
- 2023
- Value at securitization
- $112.0M (Oct 2024)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.27x | 0.94x |
| Occupancy | 92% | 96% |
| Net operating income | $5.8M | $4.3M |
| Debt yield | 5.9% |
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 Wells Fargo Commercial Mortgage Trust 2025-C64 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since April 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.
What the filing shows
- Occupancy has risen from 92% when the loan was securitized to 96%.
- Net operating income is 26% below the underwritten figure ($4.3M a year against $5.8M).
- Debt service coverage moved from 1.27x at securitization to 0.94x on the latest statements.
- At 0.94x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $73.5M | Current | No | 0.94x | 96% |
| August 2026 | $73.5M | Current | No | 0.94x | 96% |
| July 2026 | $73.5M | Current | No | 0.94x | 96% |
| June 2026 | $73.5M | Current | No | 0.94x | 96% |
| May 2026 | $73.5M | Current | No | 0.94x | 96% |
| April 2026 | $73.5M | Current | No | 0.94x | 96% |
| March 2026 | $73.5M | Current | No | n/a | n/a |
| February 2026 | $73.5M | Current | No | n/a | n/a |
| January 2026 | $73.5M | Current | No | n/a | n/a |
| December 2025 | $73.5M | Current | No | n/a | n/a |
| November 2025 | $73.5M | Current | No | n/a | n/a |
| October 2025 | $73.5M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2025-C64 | 2 | $73,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Menlo Center | Menlo Park, CA | Mixed use | $18.0M | 6.60% | Jun 2035 | 2.64x | 81% | Current |
| Beltramo Office | Menlo Park, CA | Office | $16.1M | 6.141% | Jun 2035 | 2.89x | 100% | Current |
| Security Public Storage - Richmond | Richmond, CA | Self storage | $15.8M | 5.849% | Oct 2035 | n/a | n/a | Current |
| Security Public Storage - Pittsburg | Pittsburg, CA | Self storage | $11.7M | 5.822% | Dec 2035 | n/a | n/a | Current |
| StorQuest - San Leandro, CA | San Leandro, CA | Self storage | $5.2M | 5.593% | Oct 2035 | 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.