This 113,168-sq.-ft. mixed-use complex in Woodland Hills, Calif. has a loan balance of roughly $22 million with a maturity date of August 2017. In January, the loan was transferred to special servicing because of imminent monetary default. Still, Morningstar researchers estimate the property’s value, even if two of its largest tenants were to move out, at $27 million, above the value of the loan. Warner Center Business Park, completed in the late 1970s and early 1980s, is owned by Kearney Real Estate Co

The loan on this property is collateralized by a fee interest in 625,509 sq. ft. and 12,007 sq. ft. of out-parcel ground leases at a 1.44-million-sq.-ft. mall in Raleigh, N.C. owned by CBL & Associates Properties Inc. The loan, with a balance of about $25 million, currently has a December 2015 maturity date and CBL & Associates is reportedly planning to ask for a loan restructuring ahead of that date.

This 196,562-sq.-ft. office building in Rye Brook, N.Y. may be emblematic of the market forces plaguing suburban office properties. One of its biggest tenants, DPS Holdings, which took up more than 51 percent of its GLA, terminated its lease in January 2011. While the loan on the property was originally coming due in January 2012, a special servicer modified the date to March of this year. And though the property passed to a new borrower who has been investing in upgrades such as a new HVAC system, it’s unclear whether this will be enough to reach an acceptable occupancy level and cash flow in time for the new maturity date. 900 King Street was originally constructed in 1981. Occupancy at the property is currently around 36.6 percent. The asset faces a loan balance of $27.5 million.

The loan on this 210,041-sq.-ft. office property in Santa Ana, Calif. has already been through the special servicer, due to high vacancy and falling rents. As of April 2011, the building, built in 2002, had an occupancy rate of 20 percent. Meanwhile, the loan’s July 2015 maturity date is fast approaching. On the plus side, Morningstar estimates that the asset’s value is above its current loan exposure of roughly $28.4 million. On the down side, the owner (reportedly the Liu family) will have to somehow re-lease much of that vacant space.

The loan on this 289,279-sq.-ft. office complex is scheduled to come due in December 2015, while two of the property’s largest tenants, Sedgwick Claims Management Service and Metropolitan Life, have leases expiring this upcoming May and December respectively. The property’s vacancy rate is much higher than the average for its area, and its rents are slightly lower than the average. According to Morningstar, “Default risk is high due to the older vintage, condition of the Detroit MSA and declining financials since issuance. The loan should survive for as long as the borrower is willing to fund the debt service as re-leasing the vacant space should be very difficult.” Raleigh Office Centre faces a loan balance of about $30 million.

Noble Tech, a 1.3-million-sq.-ft. industrial complex located in Warren, Mich., started having troubles when one of its major tenants, Noble International, filed for Chapter 11 bankruptcy in April 2009. Noble International occupied 524,401 sq. ft. at the complex. U.S. Manufacturing and Global Wind Systems were supposed to take up the left-over space in February 2010, but Global Wind has not moved in and has not paid rent to the property owner. A forbearance on the loan has been executed sometime after mid-2011, but the property’s value, last estimated in July 2010 at $21 million, may still be below its $33.6 million loan balance.

The Orchard Place Shopping Center in Skokie, Ill. is comprised of an 8,000-sq.-ft. stand-alone bank building and an 80,000-sq.-ft retail center. The latter was badly hit by tenant bankruptcies during the recession, as it saw both Linens ‘n Things and Circuit City exit the property, and now faces a dispute with CVS Caremark related to rent guarantees on those leases that were set to go through 2022. Meanwhile, as of May, the only tenant reportedly remaining at the property was a 13,401-sq.-ft. Golf Galaxy. The property now has a value deficiency of $31 million on its $35 million loan balance and faces an April 2017 maturity date.

The loan on this 345-room Phoenix hotel has already been in special servicing for imminent default, but has since returned to the master servicer in a December remittance. In August, the property, located next to the Sky Harbor Airport and owned by Columbia Sussex Corp., had an occupancy rate of 53 percent. It currently faces a June 2016 maturity date. Its value, at $29.4 million, is also below its $62.4 million loan balance.

This 261,084-sq.-ft. mixed-use complex in Washington, D.C. faces a fast-approaching maturity date in November 2015, a high loan-to-value ratio at 85 percent, a low occupancy rate and less than promising projections for its future cash flow. Even though multiple tenants signed new leases at The Watergate in the past two years, as of September, it had an occupancy rate of 73 percent. (The occupancy was expected to go up to the mid-80 percent range with Sage Publications moving into a 36,000-sq.-ft. space in January). However, according to Morningstar estimates, the property value is still above its $64.6 million loan balance. The Watergate was completed in 1968 and includes office, retail and residential space. Since November 2011, Penzance, a Washington, D.C.-based investor and developer that specializes in asset repositioning, has owned the property.

By this point, the loan on this 171,802-sq.-ft. strip center in Rancho Cucamonga, Calif. has gone through special servicing, near-foreclosure, borrower bankruptcy and a modification. One of the biggest issues for the center is cash flow—even though four new tenants signed leases in 2014, bringing occupancy to above 82 percent, the “rental income has yet to stabilize,” according to Morningstar notes. Meanwhile, the loan will reach maturity in October, 2016. The property may also face a loan deficiency, as its loan balance is currently $36.1 million, but when it was last appraised, in late 2012, its value was estimated at $31.2 million.