Self storage · Huntsville, Alabama
CityLine Added Space Self Storage Sparkman
CityLine Added Space Self Storage Sparkman is financed with a $2.9M CMBS loan at 7.50% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $2,940,000
- Original balance (same notes)
- $2,940,000
- Interest rate
- 7.50% fixed
- Originated
- September 28, 2023
- Maturity
- October 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2005 Sparkman Drive NW, Huntsville, AL 35810
- Metro
- Huntsville, AL
- Rentable area
- 60,825 sq ft
- Units, rooms or beds
- 510
- Built
- 1989, renovated 2015
- Value at securitization
- $6.3M (Aug 2023)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.27x | 0.77x |
| Occupancy | 85% | 80% |
| Net operating income | $284K | $173K |
| Debt yield | 5.9% |
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 2023-V4 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
On the cmbs.news watch list in every report since August 2026.
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 85% when the loan was securitized to 80%.
- Net operating income is 39% below the underwritten figure ($173K a year against $284K).
- Debt service coverage moved from 1.27x at securitization to 0.77x on the latest statements.
- At 0.77x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $2.9M | Current | No | 0.77x | 80% |
| August 2026 | $2.9M | Late payment but less than 30 days delinquent | No | 0.77x | 80% |
| July 2026 | $2.9M | Current | No | n/a | n/a |
| June 2026 | $2.9M | Late payment but less than 30 days delinquent | No | n/a | n/a |
| May 2026 | $2.9M | Current | No | n/a | n/a |
| April 2026 | $2.9M | Current | No | 0.87x | 73% |
| March 2026 | $2.9M | Current | No | 1.09x | 73% |
| February 2026 | $2.9M | Current | No | 1.09x | 73% |
| January 2026 | $2.9M | Current | No | 1.09x | 73% |
| December 2025 | $2.9M | Current | No | 1.09x | 73% |
| November 2025 | $2.9M | Current | No | 1.09x | 79% |
| October 2025 | $2.9M | Current | No | 1.09x | 79% |
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 2023-V4 Mortgage Trust | 28 | $2,940,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other Huntsville loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Westin & Element - Huntsville | Huntsville, AL | Hotel | $25.0M | 4.745% | Oct 2028 | 3.97x | 70% | Current |
| Gallery Shopping Center | Huntsville, AL | Retail | $8.3M | 4.90% | Apr 2028 | 1.97x | 95% | Current |
| North Madison Corners | Madison, AL | Retail | $8.0M | 5.00% | Oct 2028 | n/a | n/a | Current |
| Park Place | Huntsville, AL | Office | $6.0M | 4.81% | Jul 2028 | 2.21x | 74% | Current |
| CityLine Added Space Self Storage Memorial Parkway | Huntsville, AL | Self storage | $3.7M | 7.50% | Oct 2028 | 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.