Self storage portfolio, 2 properties · Georgia
Covington Self Storage Portfolio
This portfolio is financed with a $6.3M CMBS loan at 5.22% that reaches maturity on March 1, 2029, in 2 years and 4 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,304,025
- Original balance (same notes)
- $6,750,000
- Interest rate
- 5.22% fixed
- Originated
- February 22, 2019
- Maturity
- March 1, 2029
- Payments
- Interest only for 36 months, then amortizing
- Prepayment lockout ends
- November 30, 2028
- Master servicer
- Trimont LLC
- Originator
- Bank of America, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 907
- Value at securitization
- $9.3M (Dec 2018)
Performance
| At securitization | Latest (Sep 2025) | |
|---|---|---|
| DSCR (NOI) | 1.49x | 2.08x |
| Occupancy | 92% | 79% |
| Net operating income (annualized from 9 months) | $664K | $928K |
| Debt yield | 14.7% |
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-BNK17 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 92% when the loan was securitized to 79%.
- Net operating income is 40% above the underwritten figure ($928K a year against $664K; the latest statement covers 9 months, annualized).
- Debt service coverage moved from 1.49x 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 | $6.3M | Current | No | 2.08x | 79% |
| August 2026 | $6.3M | Current | No | 2.08x | 79% |
| July 2026 | $6.3M | Current | No | 2.08x | 79% |
| June 2026 | $6.3M | Current | No | 2.08x | 79% |
| May 2026 | $6.3M | Current | No | 2.08x | 79% |
| April 2026 | $6.3M | Current | No | 2.08x | 79% |
| March 2026 | $6.4M | Current | No | 2.08x | 79% |
| February 2026 | $6.4M | Current | No | 2.08x | 79% |
| January 2026 | $6.4M | Current | No | 2.08x | 79% |
| December 2025 | $6.4M | Current | No | 2.07x | 82% |
| November 2025 | $6.4M | Current | No | 2.07x | 82% |
| October 2025 | $6.4M | Current | No | 2.07x | 82% |
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-BNK17 | 32 | $6,304,025 | Sep 2026 | SEC filing, October 1, 2026 |
Other Georgia loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Colony Square | Atlanta, GA | Mixed use | $260.0M | 7.375% | Oct 2029 | n/a | n/a | Current |
| Embassy Suites At Centennial Olympic Park | Atlanta, GA | Hotel | $73.0M | 4.59% | Jul 2029 | 1.89x | 74% | Current |
| 1198 Woodland Avenue NE | Atlanta, GA | Multifamily | $66.5M | 6.348% | Aug 2029 | n/a | n/a | Current |
| Wildwood Center | Atlanta, GA | Office | $65.0M | 7.98% | Mar 2029 | 1.45x | 81% | Current |
| Sugarloaf Mills | Lawrenceville, GA | Retail | $62.8M | 8.017% | May 2029 | 3.05x | 87% | Current |
| Westin Atlanta Airport | Atlanta, GA | Hotel | $52.6M | 4.62% | Apr 2029 | n/a | n/a | Current |
| AVR Renaissance Atlanta Airport Gateway Hotel | Atlanta, GA | Hotel | $48.0M | 3.65% | Dec 2029 | n/a | n/a | Current |
| Eleven Seventeen Perimeter | Atlanta, GA | Office | $44.0M | 4.18% | Jul 2029 | 0.59x | 41% | Late, less than 30 days |
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.