Self storage · San Antonio, Texas
Forward Storage San Antonio
Forward Storage San Antonio is financed with a $30.9M CMBS loan at 7.42% 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
- $30,925,000
- Original balance (same notes)
- $30,925,000
- Interest rate
- 7.42% fixed
- Originated
- December 13, 2023
- Maturity
- January 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 5, 2028
- Master servicer
- Midland Loan Services
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 18975 Marbach Lane, San Antonio, TX 78266
- Metro
- San Antonio-New Braunfels, TX
- Rentable area
- 401,018 sq ft
- Units, rooms or beds
- 355
- Built
- 1974
- Value at securitization
- $51.8M (Oct 2023)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.29x | 1.20x |
| Occupancy | 92% | 100% |
| Net operating income | $3.0M | $2.8M |
| Debt yield | 9.0% |
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 2024-V5 Mortgage Trust filing for the reporting period ending September 8, 2026, filed with the SEC September 25, 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 risen from 92% when the loan was securitized to 100%.
- Net operating income is 7% below the underwritten figure ($2.8M a year against $3.0M).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.9M | Current | No | 1.20x | 100% |
| August 2026 | $30.9M | Current | No | 1.21x | 100% |
| July 2026 | $30.9M | Current | No | 1.21x | 100% |
| June 2026 | $30.9M | Current | No | n/a | n/a |
| May 2026 | $30.9M | Current | No | n/a | n/a |
| April 2026 | $30.9M | Current | No | 1.21x | 100% |
| March 2026 | $30.9M | Current | No | 1.21x | 100% |
| February 2026 | $30.9M | Current | No | 1.21x | 100% |
| January 2026 | $30.9M | Current | No | 1.21x | 100% |
| December 2025 | $30.9M | Current | No | 1.19x | 100% |
| November 2025 | $30.9M | Current | No | 1.19x | 100% |
| October 2025 | $30.9M | Current | No | 1.19x | 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 |
|---|---|---|---|---|
| Benchmark 2024-V5 Mortgage Trust | 11 | $30,925,000 | Sep 2026 | SEC filing, September 25, 2026 |
Other San Antonio-New Braunfels loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| USRA Marathon Oil Building | San Antonio, TX | Office | $110.0M | 3.65% | Sep 2029 | 2.06x | 100% | Current |
| FedEx Ground Package System - San Antonio | San Antonio, TX | Industrial | $77.8M | 4.489% | May 2029 | n/a | n/a | Current |
| The Light Building | San Antonio, TX | Office | $43.5M | 6.86% | Jun 2029 | 1.38x | 86% | Current |
| 19100 Ridgewood | San Antonio, TX | Office | $30.0M | 3.65% | Sep 2029 | 2.04x | 100% | Current |
| Courtyard By Marriott San Antonio Riverwalk | San Antonio, TX | Hotel | $27.8M | 5.35% | Jan 2029 | 2.23x | 63% | Late, less than 30 days |
| Terrell Plaza | San Antonio, TX | Retail | $16.6M | 6.95% | Feb 2029 | 1.55x | 96% | Current |
| Courtyard Plaza | New Braunfels, TX | Retail | $14.4M | 4.67% | Jul 2029 | 2.53x | 97% | Late, less than 30 days |
| Fairfield Inn & Suites and Springhill Suites San Antonio Downtown | San Antonio, TX | Hotel | $12.8M | 4.27% | Aug 2029 | 1.76x | 68% | Current |
All loans maturing in 2029 · All San Antonio-New Braunfels loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 8, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.