Self storage · Federal Way, Washington
Federal Way Supreme Self Storage
Federal Way Supreme Self Storage is financed with a $11.7M CMBS loan at 5.953% that reaches maturity on October 1, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $11,650,000
- Original balance (same notes)
- $11,650,000
- Interest rate
- 5.953% fixed
- Originated
- September 17, 2024
- Maturity
- October 1, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- March 31, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 35200 Pacific Highway South, Federal Way, WA 98003
- Metro
- Seattle-Tacoma-Bellevue, WA
- Rentable area
- 106,845 sq ft
- Units, rooms or beds
- 746
- Built
- 2020
- Value at securitization
- $18.6M (Aug 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.55x | 1.30x |
| Occupancy | 91% | 81% |
| Net operating income (annualized from 6 months) | $1.1M | $917K |
| Debt yield | 7.9% |
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 2024-5YR10 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 91% when the loan was securitized to 81%.
- Net operating income is 16% below the underwritten figure ($917K a year against $1.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.55x at securitization to 1.30x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $11.7M | Current | No | 1.30x | 81% |
| August 2026 | $11.7M | Current | No | 1.30x | 81% |
| July 2026 | $11.7M | Current | No | 1.34x | 100% |
| June 2026 | $11.7M | Current | No | 1.34x | 100% |
| May 2026 | $11.7M | Current | No | 1.34x | 100% |
| April 2026 | $11.7M | Current | No | 1.34x | 100% |
| March 2026 | $11.7M | Current | No | 1.34x | 100% |
| February 2026 | $11.7M | Current | No | 1.34x | 100% |
| January 2026 | $11.7M | Current | No | 1.34x | 81% |
| December 2025 | $11.7M | Current | No | 1.33x | 100% |
| November 2025 | $11.7M | Current | No | 1.33x | 100% |
| October 2025 | $11.7M | Current | No | 1.33x | 100% |
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 |
|---|---|---|---|---|
| BANK5 2024-5YR10 | 22 | $11,650,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Seattle-Tacoma-Bellevue loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Newport Corporate Center | Bellevue, WA | Office | $164.0M | 3.543% | May 2029 | 5.70x | 100% | Current |
| Summit 1, 2, 3 | Bellevue, WA | Office | $155.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
| Sunset North | Bellevue, WA | Office | $150.0M | 3.25% | Oct 2029 | 1.96x | 66% | Current |
| 4th & Battery | Seattle, WA | Office | $135.0M | 4.378% | Jun 2029 | n/a | n/a | With the special servicer and 90+ days delinquent |
| Millennium Corporate Park | Redmond, WA | Office | $131.0M | 3.032% | Jan 2029 | 3.62x | 89% | Current |
| 90 North Campus | Bellevue, WA | Office | $80.0M | 3.732% | Dec 2029 | 2.97x | 100% | Current |
| University Village, Seattle | Seattle, WA | Retail | $75.0M | 3.30% | Dec 2029 | 2.52x | 95% | Current |
| The Summit, Bellevue | Bellevue, WA | Office | $65.0M | 2.952% | Feb 2029 | n/a | n/a | Current |
All loans maturing in 2029 · All Seattle-Tacoma-Bellevue loans
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.