Self storage · Fernley, Nevada
Cottonwood Self Storage
Cottonwood Self Storage is financed with a $3.7M CMBS loan at 6.89% that reaches maturity on November 6, 2029, in 3 years. 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
- $3,700,000
- Original balance (same notes)
- $3,700,000
- Interest rate
- 6.89% fixed
- Originated
- November 5, 2024
- Maturity
- November 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 5, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- UBS AG
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 540 Cottonwood Lane, Fernley, NV 89408
- Rentable area
- 41,800 sq ft
- Units, rooms or beds
- 231
- Built
- 2020
- Value at securitization
- $5.4M (Oct 2024)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.32x | 1.29x |
| Occupancy | 92% | 84% |
| Net operating income (annualized from 3 months) | $341K | $334K |
| Debt yield | 9.0% |
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 2024-5C8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 2026.
None this month. No flag in the cmbs.news screen applies to this loan.
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 92% when the loan was securitized to 84%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 84% |
| August 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 84% |
| July 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 84% |
| June 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 84% |
| May 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 97% |
| April 2026 | $3.7M | Late payment but less than 30 days delinquent | No | 1.29x | 97% |
| March 2026 | $3.7M | Current | No | 1.29x | 97% |
| February 2026 | $3.7M | Current | No | 1.29x | 97% |
| January 2026 | $3.7M | Current | No | 1.24x | 88% |
| December 2025 | $3.7M | Current | No | 1.24x | 88% |
| November 2025 | $3.7M | Current | No | 1.24x | 88% |
| October 2025 | $3.7M | Current | No | 1.24x | 88% |
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 2024-5C8 Mortgage Trust | 40 | $3,700,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Nevada loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Grand Canal Shoppes | Las Vegas, NV | Retail | $710.0M | 3.741% | Jul 2029 | 2.98x | 85% | Current |
| Bellagio Hotel and Casino | Las Vegas, NV | Hotel | $600.0M | 3.17% | Dec 2029 | 6.51x | 97% | Current |
| Showcase I | Las Vegas, NV | Retail | $169.5M | 6.36% | Jul 2029 | 1.18x | 99% | Current |
| Galleria At Sunset | Henderson, NV | Retail | $47.6M | 8.46% | Mar 2029 | 2.05x | 100% | Current |
| Hilton Dual Brand Las Vegas | Las Vegas, NV | Hotel | $46.0M | 7.93% | Apr 2029 | n/a | n/a | Current |
| Shadow Mountain Marketplace | Las Vegas, NV | Retail | $46.0M | 5.14% | Feb 2029 | 1.39x | 94% | Current |
| Oasis Plaza | Las Vegas, NV | Mixed use | $45.0M | 6.70% | Aug 2029 | 1.33x | 93% | Current |
| Rainbow Sunset Pavilion | Las Vegas, NV | Office | $39.4M | 5.145% | Jan 2029 | 1.83x | 87% | 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.