Self storage · San Luis Obispo, California
Central Coast Mini Storage
Central Coast Mini Storage is financed with a $10.0M CMBS loan at 5.76% that reaches maturity on August 6, 2035, in 8 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $10,000,000
- Original balance (same notes)
- $10,000,000
- Interest rate
- 5.76% fixed
- Originated
- July 31, 2025
- Maturity
- August 6, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2035
- Master servicer
- Midland Loan Services
- Originator
- German American Capital Corporation
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 3600 South Higuera Street, San Luis Obispo, CA 93401
- Metro
- San Luis Obispo-Paso Robles, CA
- Rentable area
- 110,136 sq ft
- Built
- 2010
- Value at securitization
- $27.0M (Jun 2025)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.98x | 2.47x |
| Occupancy | 95% | 98% |
| Net operating income (annualized from 6 months) | $1.7M | $2.9M |
| Debt yield | 29.0% |
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 2025-B41 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 risen from 95% when the loan was securitized to 98%.
- Net operating income is 67% above the underwritten figure ($2.9M a year against $1.7M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.98x at securitization to 2.47x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $10.0M | Late payment but less than 30 days delinquent | No | 2.47x | 98% |
| August 2026 | $10.0M | Current | No | n/a | n/a |
| July 2026 | $10.0M | Current | No | n/a | n/a |
| June 2026 | $10.0M | Current | No | n/a | n/a |
| May 2026 | $10.0M | Current | No | n/a | n/a |
| April 2026 | $10.0M | Current | No | n/a | n/a |
| March 2026 | $10.0M | Current | No | n/a | n/a |
| February 2026 | $10.0M | Current | No | n/a | n/a |
| January 2026 | $10.0M | Current | No | n/a | n/a |
| December 2025 | $10.0M | Current | No | n/a | n/a |
| November 2025 | $10.0M | Current | No | n/a | n/a |
| October 2025 | $10.0M | 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 |
|---|---|---|---|---|
| Benchmark 2025-B41 Mortgage Trust | 20 | $10,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
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.