Self storage · Lansing, Michigan
Delta Self Storage
Delta Self Storage is financed with a $2.9M CMBS loan at 5.34% that reaches maturity on January 6, 2029, in 2 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $2,883,632
- Original balance (same notes)
- $3,150,000
- Interest rate
- 5.34% fixed
- Originated
- December 28, 2018
- Maturity
- January 6, 2029
- Payments
- Interest only for 24 months, then amortizing
- Prepayment lockout ended
- March 5, 2021
- Prepayment premium ends
- October 5, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 746 Knights Inn Drive, Lansing, MI 48917
- Metro
- Lansing-East Lansing, MI
- Rentable area
- 48,510 sq ft
- Units, rooms or beds
- 360
- Built
- 2004
- Value at securitization
- $4.7M (Oct 2018)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.61x | 1.12x |
| Occupancy | 96% | 88% |
| Net operating income (annualized from 6 months) | $274K | $239K |
| Debt yield | 8.3% |
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 2019-B9 MORTGAGE TRUST filing for the reporting period ending September 11, 2026, filed with the SEC September 30, 2026.
- Coverage down 0.25x 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 96% when the loan was securitized to 88%.
- Net operating income is 13% below the underwritten figure ($239K a year against $274K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.61x at securitization to 1.12x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $2.9M | Current | No | 1.12x | 88% |
| August 2026 | $2.9M | Current | No | 1.11x | 87% |
| July 2026 | $2.9M | Current | No | 1.11x | 87% |
| June 2026 | $2.9M | Current | No | 1.11x | 87% |
| May 2026 | $2.9M | Current | No | 1.18x | 86% |
| April 2026 | $2.9M | Current | No | 1.18x | 86% |
| March 2026 | $2.9M | Current | No | 1.18x | 86% |
| February 2026 | $2.9M | Current | No | 1.18x | 86% |
| January 2026 | $2.9M | Current | No | 1.23x | 88% |
| December 2025 | $2.9M | Current | No | 1.23x | 88% |
| November 2025 | $2.9M | Current | No | 1.23x | 88% |
| October 2025 | $2.9M | Current | No | 1.13x | 91% |
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 2019-B9 MORTGAGE TRUST | 47 | $2,883,632 | Sep 2026 | SEC filing, September 30, 2026 |
Other Lansing-East Lansing loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Champion MSU Student Housing Portfolio | East Lansing, MI | Multifamily | $44.0M | 6.743% | Jun 2029 | 1.11x | 96% | Current |
| Capitol Commons | Lansing, MI | Office | $24.9M | 3.75% | Sep 2029 | 1.64x | 100% | 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.