Self storage portfolio, 2 properties · North Carolina
City Storage
This portfolio is financed with a $3.1M CMBS loan at 4.26% that reaches maturity on December 1, 2029, in 3 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
- $3,107,696
- Original balance (same notes)
- $3,200,000
- Interest rate
- 4.26% fixed
- Originated
- November 6, 2019
- Maturity
- December 1, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- August 31, 2029
- Master servicer
- Trimont LLC
- Originator
- MSBNA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 526
- Value at securitization
- $4.6M
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.69x | 2.08x |
| Occupancy | 89% | 71% |
| Net operating income (annualized from 6 months) | $320K | $396K |
| Debt yield | 12.8% |
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 BANK 2019-BNK23 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Occupancy down 10 points 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 89% when the loan was securitized to 71%.
- Net operating income is 24% above the underwritten figure ($396K a year against $320K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.69x at securitization to 2.08x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.1M | Current | No | 2.08x | 71% |
| August 2026 | $3.1M | Current | No | 2.01x | 68% |
| July 2026 | $3.1M | Current | No | 2.01x | 68% |
| June 2026 | $3.1M | Current | No | 2.01x | 68% |
| May 2026 | $3.1M | Current | No | 2.43x | 72% |
| April 2026 | $3.1M | Current | No | 2.43x | 72% |
| March 2026 | $3.1M | Current | No | 2.43x | 72% |
| February 2026 | $3.1M | Current | No | 2.45x | 74% |
| January 2026 | $3.1M | Current | No | 2.45x | 74% |
| December 2025 | $3.1M | Current | No | 2.45x | 74% |
| November 2025 | $3.2M | Current | No | 2.45x | 74% |
| October 2025 | $3.2M | Current | No | 2.46x | 95% |
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 2019-BNK23 | 46 | $3,107,696 | Sep 2026 | SEC filing, October 1, 2026 |
Other North Carolina loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Innovation Park | Charlotte, NC | Office | $182.3M | 3.505% | Nov 2029 | 1.22x | 49% | Current |
| 4813, 4815 & 4721 Emperor Boulevard and 1005, 1007 & 1009 Slater Road | Durham, NC | Office | $108.0M | 7.364% | Mar 2029 | n/a | n/a | Current |
| Exchange On Erwin | Durham, NC | Mixed use | $75.5M | 3.421% | Dec 2029 | 0.99x | n/a | Current |
| The Arcadian | Winston-Salem, NC | Multifamily | $74.2M | 6.95% | Sep 2029 | n/a | n/a | Current |
| Panorama Tower | Charlotte, NC | Mixed use | $71.5M | 7.37% | Mar 2029 | 2.06x | 72% | Current |
| White Oak Crossing | Garner, NC | Retail | $60.0M | 3.544% | Dec 2029 | 2.14x | 99% | Current |
| Weston I & II | Cary, NC | Office | $48.4M | 5.742% | Jan 2029 | 1.11x | 74% | Current |
| Walmart Asheboro Individual Property | Asheboro, NC | Retail | $42.3M | 3.63% | Dec 2029 | n/a | n/a | Current |
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.