Self storage · Lakeland, Florida
Century Storage Sandpiper
Century Storage Sandpiper is financed with a $4.2M CMBS loan at 6.786% that reaches maturity on June 1, 2034, in 7 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,150,000
- Original balance (same notes)
- $4,150,000
- Interest rate
- 6.786% fixed
- Originated
- May 28, 2024
- Maturity
- June 1, 2034
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 28, 2034
- Master servicer
- Midland
- Originator
- Societe Generale Financial Corporation
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5990 Walt Loop Road, Lakeland, FL 33809
- Metro
- Lakeland-Winter Haven, FL
- Units, rooms or beds
- 415
- Built
- 1992
- Value at securitization
- $7.0M (Apr 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.52x | 1.23x |
| Occupancy | 88% | 83% |
| Net operating income (annualized from 6 months) | $434K | $706K |
| Debt yield | 17.0% |
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 BMO 2024-C9 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 fallen from 88% when the loan was securitized to 83%.
- Net operating income is 63% above the underwritten figure ($706K a year against $434K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.52x at securitization to 1.23x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.2M | Current | No | 1.23x | 83% |
| August 2026 | $4.2M | Current | No | 1.23x | 83% |
| July 2026 | $4.2M | Current | No | n/a | n/a |
| June 2026 | $4.2M | Current | No | n/a | n/a |
| May 2026 | $4.2M | Current | No | n/a | n/a |
| April 2026 | $4.2M | Current | No | 1.37x | 85% |
| March 2026 | $4.2M | Current | No | 1.37x | 85% |
| February 2026 | $4.2M | Current | No | 1.44x | 84% |
| January 2026 | $4.2M | Current | No | 1.44x | 84% |
| December 2025 | $4.2M | Current | No | 1.44x | 84% |
| November 2025 | $4.2M | Current | No | 1.45x | 84% |
| October 2025 | $4.2M | 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 |
|---|---|---|---|---|
| BMO 2024-C9 Mortgage Trust | 43 | $4,150,000 | Sep 2026 | SEC filing, October 2, 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.