Mixed use · Concord, North Carolina
Affordable Storage - Concord Nc
Affordable Storage - Concord Nc is financed with a $2.3M CMBS loan at 4.27% that reaches maturity on December 1, 2031, in 5 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $2,275,000
- Original balance (same notes)
- $2,275,000
- Interest rate
- 4.27% fixed
- Originated
- November 4, 2021
- Maturity
- December 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 31, 2031
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 345 Wilshire Avenue, Concord, NC 28025
- Metro
- Charlotte-Concord-Gastonia, NC-SC
- Rentable area
- 48,180 sq ft
- Built
- 1996, renovated 2002
- Largest tenants
- AYS CLEANING; PIEDMONT TECHNOLOGY SERVICES, INC; JASON PEOPLES
- Value at securitization
- $3.5M (Sep 2021)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.35x | 1.65x |
| Occupancy | 97% | 83% |
| Net operating income | $231K | $163K |
| Debt yield | 7.1% |
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 2021-BNK38 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- 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
- Occupancy has fallen from 97% when the loan was securitized to 83%.
- Net operating income is 30% below the underwritten figure ($163K a year against $231K).
- Debt service coverage moved from 2.35x at securitization to 1.65x on the latest statements.
- The filing gives Jun 2022 as the lease end date for the largest tenant (AYS CLEANING), 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 | $2.3M | Current | No | 1.65x | 83% |
| August 2026 | $2.3M | Current | No | 1.65x | 83% |
| July 2026 | $2.3M | Current | No | 1.65x | 83% |
| June 2026 | $2.3M | Current | No | 1.65x | 83% |
| May 2026 | $2.3M | Current | No | 1.65x | 83% |
| April 2026 | $2.3M | Current | No | 1.65x | 83% |
| March 2026 | $2.3M | Current | No | 1.80x | 88% |
| February 2026 | $2.3M | Current | No | 1.80x | 88% |
| January 2026 | $2.3M | Current | No | 1.80x | 88% |
| December 2025 | $2.3M | Current | No | 1.80x | 88% |
| November 2025 | $2.3M | Current | No | 1.80x | 88% |
| October 2025 | $2.3M | Current | No | 1.79x | 89% |
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 |
|---|---|---|---|---|
| BANK 2021-BNK38 | 52 | $2,275,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Charlotte-Concord-Gastonia loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Harris Building | Charlotte, NC | Office | $64.0M | 6.367% | Apr 2031 | n/a | n/a | Current |
| Greenrock Estates | Charlotte, NC | Multifamily | $33.0M | 5.92% | Apr 2031 | n/a | n/a | Current |
| Townes at Southpark | Charlotte, NC | Multifamily | $15.0M | 5.925% | Jan 2031 | n/a | n/a | Current |
| The Crossing | Matthews, NC | Mixed use | $12.0M | 6.41% | Jan 2031 | 1.90x | 96% | Current |
| Stadium Lofts Apartments | Kannapolis, NC | Mixed use | $10.5M | 6.30% | Feb 2031 | n/a | n/a | Current |
| Flats at 87Ten | Charlotte, NC | Multifamily | $9.3M | 6.59% | Sep 2031 | n/a | n/a | Current |
| Vista Commons | Charlotte, NC | Multifamily | $9.0M | 3.635% | Nov 2031 | 3.05x | 86% | Current |
| Redbud Commons | Gastonia, NC | Retail | $6.6M | 6.679% | Jan 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Charlotte-Concord-Gastonia 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.