Self storage · Elyria, Ohio
Cubesmart - Elyria Oh
Cubesmart - Elyria Oh is financed with a $3.3M CMBS loan at 3.64% that reaches maturity on December 11, 2031, in 5 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
- $3,300,055
- Original balance (same notes)
- $3,637,500
- Interest rate
- 3.64% fixed
- Originated
- November 18, 2021
- Maturity
- December 11, 2031
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- September 10, 2031
- Master servicer
- Trimont LLC
- Originator
- WFB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 821 Cleveland Street, Elyria, OH 44035
- Metro
- Cleveland, OH
- Rentable area
- 50,525 sq ft
- Units, rooms or beds
- 525
- Built
- 1989, renovated 2018
- Value at securitization
- $4.8M (Sep 2021)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 2.21x | 2.74x |
| Occupancy | 99% | 77% |
| Net operating income | $441K | $546K |
| Debt yield | 16.5% |
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 2021-BNK38 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 99% when the loan was securitized to 77%.
- Net operating income is 24% above the underwritten figure ($546K a year against $441K).
- Debt service coverage moved from 2.21x at securitization to 2.74x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.3M | Current | No | 2.74x | 77% |
| August 2026 | $3.3M | Current | No | 2.74x | 77% |
| July 2026 | $3.3M | Current | No | 2.74x | 77% |
| June 2026 | $3.3M | Current | No | 2.74x | 77% |
| May 2026 | $3.3M | Current | No | 2.78x | 79% |
| April 2026 | $3.3M | Current | No | 2.78x | 79% |
| March 2026 | $3.3M | Current | No | 2.78x | 79% |
| February 2026 | $3.3M | Current | No | 2.78x | 79% |
| January 2026 | $3.4M | Current | No | 2.78x | 79% |
| December 2025 | $3.4M | Current | No | 2.63x | 89% |
| November 2025 | $3.4M | Current | No | 2.63x | 89% |
| October 2025 | $3.4M | Current | No | 3.00x | 85% |
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 2021-BNK38 | 42 | $3,300,055 | Sep 2026 | SEC filing, October 1, 2026 |
Other Cleveland loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Midtown Towers | Parma, OH | Multifamily | $47.5M | 5.91% | Sep 2031 | n/a | n/a | Current |
| 1010 Building and Heinens Rotunda Building | Cleveland, OH | Mixed use | $22.2M | 4.68% | Jul 2031 | 0.95x | 89% | Current |
| Cleveland Dual Brand Hotel | Independence, OH | Hotel | $20.9M | 8.31% | Jan 2031 | n/a | n/a | Current |
| The Westbury Apartments | North Olmsted, OH | Multifamily | $18.5M | 6.45% | Sep 2031 | n/a | n/a | Current |
| 23000 Millcreek Boulevard | Highland Hills, OH | Office | $17.0M | 2.70% | Jan 2031 | 4.12x | 90% | Current |
| 32 West Apartments | Cleveland, OH | Multifamily | $10.4M | 7.049% | Apr 2031 | n/a | n/a | Current |
| Holiday Inn Mentor Ohio | OH | Hotel | $10.0M | 7.71% | Aug 2031 | n/a | n/a | Current |
| Beachwood Office Park | Beachwood, OH | Office | $5.5M | 4.09% | Jul 2031 | 2.54x | 98% | 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.