Self storage portfolio, 9 properties · Multiple locations
Etude Self Storage West Coast Portfolio
Public CMBS trusts hold $115.2M of the loan on this portfolio at 6.025% that reaches maturity on September 1, 2030, in 3 years and 10 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $115,200,000
- Original balance (same notes)
- $115,200,000
- Interest rate
- 6.025% fixed
- Originated
- August 14, 2025
- Maturity
- September 1, 2030
- Payments
- Interest only for the full term
- Prepayment lockout ends
- February 28, 2030
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 6,739
- Value at securitization
- $172.7M
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.40x | 1.38x |
| Occupancy | 92% | 88% |
| Net operating income (annualized from 3 months) | $9.8M | $9.7M |
| Debt yield | 8.5% |
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 BANK5 2025-5YR17 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 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 88%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $115.2M | Current | No | 1.38x | 88% |
| August 2026 | $115.2M | Current | No | n/a | n/a |
| July 2026 | $115.2M | Current | No | n/a | n/a |
| June 2026 | $115.2M | Current | No | n/a | n/a |
| May 2026 | $115.2M | Current | No | n/a | n/a |
| April 2026 | $115.2M | Current | No | n/a | n/a |
| March 2026 | $115.2M | Current | No | n/a | n/a |
| February 2026 | $115.2M | Current | No | n/a | n/a |
| January 2026 | $115.2M | Current | No | n/a | n/a |
| December 2025 | $115.2M | Current | No | n/a | n/a |
| November 2025 | $115.2M | Current | No | 1.43x | 92% |
| October 2025 | $85.0M | Current | No | 1.43x | n/a |
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
The loan is split into 3 notes held by different trusts. Each trust reports its own piece.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK5 2025-5YR17 | 2 | $80,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C2 | 7 | $30,200,000 | Sep 2026 | SEC filing, October 2, 2026 |
| BANK5 2025-5YR17 | 2A | $5,000,000 | Sep 2026 | SEC filing, September 28, 2026 |
Other self storage loans due in 2030
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 8321 Pines Boulevard | Pembroke Pines, FL | Self storage | $86.7M | 6.122% | Dec 2030 | n/a | n/a | Current |
| Capital Storage Portfolio | Self storage | $80.0M | 5.808% | Oct 2030 | 1.36x | 92% | Current | |
| Caldera Property | Midland, TX | Self storage | $77.1M | 6.135% | Feb 2030 | n/a | n/a | Current |
| 38 Swampscott Road | Salem, MA | Self storage | $67.5M | 6.741% | Mar 2030 | n/a | n/a | Current |
| 5712 Old River | Old River Winfree, TX | Self storage | $60.0M | 5.808% | Oct 2030 | n/a | n/a | Current |
| Saban Self Storage Portfolio | Self storage | $60.0M | 3.22% | Apr 2030 | 4.28x | 85% | Current | |
| Waynesboro | Waynesboro, PA | Self storage | $58.0M | 6.55% | Feb 2030 | n/a | n/a | Current |
| PGH17 Self Storage Portfolio | Self storage | $55.1M | 4.775% | Aug 2030 | 1.77x | 85% | 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.