Office · Novato, California
Woodside Office Center
Woodside Office Center is financed with a $17.6M CMBS loan at 5.155% 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 current.
The loan
- Balance in tracked trusts
- $17,608,980
- Original balance (same notes)
- $18,350,000
- Interest rate
- 5.155% fixed
- Originated
- October 17, 2018
- Maturity
- November 6, 2028
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- KeyBank Real Estate Capital
- Originator
- Deutsche Bank AG, acting through its New York Branch
Status
- Payment status
- Not reported
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 7250 Redwood Boulevard, Novato, CA 94945
- Metro
- San Francisco-Oakland-Fremont, CA
- Rentable area
- 89,457 sq ft
- Built
- 2003
- Largest tenants
- RGN-Novato II LLC; Hennessy Advisors; Ramboll US Corporation
- Value at securitization
- $26.0M (Aug 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | n/a | 0.85x |
| Occupancy | 89% | 77% |
| Net operating income (annualized from 6 months) | n/a | $1.0M |
| Debt yield | 5.8% |
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.
- Coverage below 1.00x
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 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 fallen from 89% when the loan was securitized to 77%.
- At 0.85x, the property's reported NOI does not cover its debt service.
- The filing gives Aug 2026 as the lease end date for the largest tenant (RGN-Novato II LLC), 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 | $17.6M | Not reported | No | 0.85x | 77% |
| August 2026 | $17.6M | Not reported | No | 0.86x | 77% |
| July 2026 | $17.7M | Not reported | No | 0.86x | 77% |
| June 2026 | $17.7M | Not reported | No | 0.86x | 77% |
| May 2026 | $17.7M | Not reported | No | 0.97x | 77% |
| April 2026 | $17.7M | Not reported | No | 0.97x | 77% |
| March 2026 | $17.7M | Not reported | No | 0.97x | 73% |
| February 2026 | $17.8M | Not reported | No | 0.97x | 73% |
| January 2026 | $17.8M | Not reported | No | 0.97x | 73% |
| December 2025 | $17.8M | Not reported | No | 0.97x | 73% |
| November 2025 | $17.8M | Not reported | No | 0.97x | 73% |
| October 2025 | $17.9M | Not reported | No | 0.96x | 73% |
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 |
|---|---|---|---|---|
| Benchmark 2018-B7 Mortgage Trust | 26 | $17,608,980 | Sep 2026 | SEC filing, October 1, 2026 |
Other San Francisco-Oakland-Fremont loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 181 Fremont Street | San Francisco, CA | Office | $250.0M | 3.709% | Apr 2028 | 3.52x | 100% | Current |
| The Gateway | San Francisco, CA | Multifamily | $210.0M | 3.722% | Apr 2028 | 2.91x | 95% | Current |
| Charles Schwab Plaza | San Francisco, CA | Office | $119.4M | 3.555% | Apr 2028 | 2.02x | 100% | Current |
| Pier 70 | San Francisco, CA | Mixed use | $115.0M | 4.878% | Oct 2028 | 3.03x | 100% | Current |
| InterContinental San Francisco | San Francisco, CA | Hotel | $91.4M | 4.145% | Jan 2028 | 0.54x | 65% | Current |
| City Square and Clay Street | Oakland, CA | Mixed use | $90.0M | 4.728% | Feb 2028 | 0.81x | 54% | Current |
| Lake Merritt Plaza | Oakland, CA | Office | $80.0M | 8.012% | Nov 2028 | 1.57x | 75% | Current |
| 400 South El Camino Real | San Mateo, CA | Office | $67.7M | 4.697% | Dec 2028 | 1.48x | 99% | Current |
All loans maturing in 2028 · All San Francisco-Oakland-Fremont 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.