Industrial · Fairfield, California
Courage Drive
Courage Drive is financed with a $8.4M CMBS loan at 4.103% that reaches maturity on June 11, 2029, in 2 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
- $8,400,000
- Original balance (same notes)
- $8,400,000
- Interest rate
- 4.103% fixed
- Originated
- May 29, 2019
- Maturity
- June 11, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ended
- September 10, 2021
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 2339 Courage Drive, Fairfield, CA 94533
- Metro
- Vallejo, CA
- Rentable area
- 108,000 sq ft
- Built
- 2000
- Largest tenants
- Elliott Turbo; Apria Healthcare Inc.; SDH Enterprises
- Value at securitization
- $13.8M (Apr 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.15x | 2.76x |
| Occupancy | 100% | 89% |
| Net operating income (annualized from 6 months) | $755K | $969K |
| Debt yield | 11.5% |
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-BNK19 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 100% when the loan was securitized to 89%.
- Net operating income is 28% above the underwritten figure ($969K a year against $755K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.15x at securitization to 2.76x on the latest statements.
- The filing gives May 2028 as the lease end date for the largest tenant (Elliott Turbo), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.4M | Current | No | 2.76x | 89% |
| August 2026 | $8.4M | Current | No | 2.84x | 89% |
| July 2026 | $8.4M | Current | No | 2.84x | 89% |
| June 2026 | $8.4M | Current | No | 2.84x | 89% |
| May 2026 | $8.4M | Current | No | 2.84x | 89% |
| April 2026 | $8.4M | Current | No | 2.73x | 89% |
| March 2026 | $8.4M | Current | No | 2.73x | 89% |
| February 2026 | $8.4M | Current | No | 2.73x | 89% |
| January 2026 | $8.4M | Current | No | 2.87x | 89% |
| December 2025 | $8.4M | Current | No | 2.87x | 89% |
| November 2025 | $8.4M | Current | No | 2.87x | 89% |
| October 2025 | $8.4M | Current | No | 3.03x | 89% |
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-BNK19 | 32 | $8,400,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Vallejo loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cordelia Road | Fairfield, CA | Industrial | $8.4M | 3.953% | Jun 2029 | 2.92x | 93% | Current |
| Sps Vacaville II | Vacaville, CA | Self storage | $7.9M | 3.807% | Oct 2029 | 1.64x | 86% | Current |
| Mini U Storage Vacaville | Vacaville, CA | Self storage | $5.1M | 6.93% | Mar 2029 | 1.01x | 82% | Current |
| Nut Tree 1670 | Vacaville, CA | Retail | $3.9M | 4.08% | Aug 2029 | 1.70x | 100% | Current |
| Elmira Shopping Center | Vacaville, CA | Retail | $2.3M | 5.13% | Jun 2029 | 1.23x | 86% | 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.