Self storage · Sterling Heights, Michigan
Lakeside Budget Storage
Lakeside Budget Storage is financed with a $6.8M CMBS loan at 6.64% that reaches maturity on August 11, 2029, in 2 years and 9 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,800,000
- Original balance (same notes)
- $6,800,000
- Interest rate
- 6.64% fixed
- Originated
- August 9, 2024
- Maturity
- August 11, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- May 10, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- WFB
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 13120 Hall Road, Sterling Heights, MI 48313
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 81,775 sq ft
- Units, rooms or beds
- 628
- Built
- 2005
- Value at securitization
- $11.4M (Jul 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.52x | 1.44x |
| Occupancy | 95% | 92% |
| Net operating income (annualized from 6 months) | $697K | $663K |
| Debt yield | 9.8% |
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.
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.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.8M | Current | No | 1.44x | 92% |
| August 2026 | $6.8M | Current | No | 1.44x | 92% |
| July 2026 | $6.8M | Current | No | 1.28x | 88% |
| June 2026 | $6.8M | Current | No | 1.28x | 88% |
| May 2026 | $6.8M | Current | No | 1.28x | 88% |
| April 2026 | $6.8M | Current | No | 1.48x | 86% |
| March 2026 | $6.8M | Current | No | 1.48x | 86% |
| February 2026 | $6.8M | Current | No | 1.48x | 86% |
| January 2026 | $6.8M | Current | No | 1.44x | 89% |
| December 2025 | $6.8M | Current | No | 1.44x | 89% |
| November 2025 | $6.8M | Current | No | 1.44x | 89% |
| October 2025 | $6.8M | Current | No | 1.37x | 89% |
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 | 31 | $6,800,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Detroit-Warren-Dearborn loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| First National Building | Detroit, MI | Office | $430.0M | 3.778% | Jan 2029 | n/a | n/a | Current |
| FCA USA - Detroit, MI | Detroit, MI | Industrial | $147.9M | 5.744% | Apr 2029 | n/a | n/a | Current |
| Bedrock Mixed-Use Portfolio | Detroit, MI | Other | $75.0M | 6.385% | Jun 2029 | 1.64x | 83% | Current |
| Garfield Commons | Clinton Township, MI | Multifamily | $75.0M | 7.32% | Jan 2029 | n/a | n/a | Current |
| Amazon Distribution Livonia | Livonia, MI | Industrial | $34.0M | 3.73% | May 2029 | 3.79x | 100% | Current |
| Pointe Plaza | Grosse Pointe Woods, MI | Mixed use | $30.5M | 7.955% | Jul 2029 | 1.61x | 100% | Current |
| Northville Village Shopping Center Phase I | Northville, MI | Retail | $29.5M | 6.50% | Sep 2029 | 1.65x | 98% | Current |
| Waterside Marketplace | Chesterfield, MI | Retail | $25.8M | 6.21% | Nov 2029 | 2.34x | 93% | Current |
All loans maturing in 2029 · All Detroit-Warren-Dearborn 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.