Self storage portfolio, 13 properties · Multiple locations
Merit Hill Self Storage
Public CMBS trusts hold $21.3M of the loan on this portfolio at 7.03% that reaches maturity on October 6, 2028, in 23 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $21,250,000
- Original balance (same notes)
- $21,250,000
- Interest rate
- 7.03% fixed
- Originated
- September 22, 2023
- Maturity
- October 6, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- October 5, 2025
- Prepayment premium ends
- April 5, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 6,667
- Value at securitization
- $142.0M
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.21x | 1.24x |
| Occupancy | 93% | 83% |
| Net operating income | $7.3M | $7.5M |
| Debt yield | 35.3% |
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 BANK5 2023-5YR4 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points 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 93% when the loan was securitized to 83%.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $21.3M | Current | No | 1.24x | 83% |
| August 2026 | $21.3M | Current | No | 1.24x | 83% |
| July 2026 | $21.3M | Current | No | 1.24x | 83% |
| June 2026 | $21.3M | Current | No | 1.22x | 81% |
| May 2026 | $21.3M | Current | No | 1.22x | 81% |
| April 2026 | $21.3M | Current | No | 1.22x | 81% |
| March 2026 | $21.3M | Current | No | 1.22x | 81% |
| February 2026 | $21.3M | Current | No | 1.18x | 83% |
| January 2026 | $21.3M | Current | No | 1.18x | 83% |
| December 2025 | $21.3M | Current | No | 1.17x | 90% |
| November 2025 | $21.3M | Current | No | 1.17x | 90% |
| October 2025 | $21.3M | Current | No | 1.17x | 90% |
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 2023-5YR4 | 14 | $21,250,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other self storage loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Extra Space Washington | Washington, DC | Self storage | $105.0M | 4.532% | Mar 2028 | n/a | n/a | Current |
| Extra Space - TIAA Self Storage Portfolio | Self storage | $66.0M | 4.532% | Mar 2028 | 2.79x | 95% | Current | |
| Brookwood Chase Portfolio | LA | Self storage | $65.0M | 4.07% | Jan 2028 | 3.00x | 80% | Current |
| Prime Storage Bridgehampton | Bridgehampton, NY | Self storage | $65.0M | 6.39% | Jul 2028 | n/a | n/a | Current |
| Extra Space - TIAA SS Portfolio | Self storage | $58.0M | 4.532% | Mar 2028 | 2.79x | 95% | Current | |
| Westport Self Storage Portfolio | Self storage | $47.4M | 4.68% | Jun 2028 | 2.00x | 80% | Current | |
| Extra Space Storage - Oakland | Oakland, CA | Self storage | $43.8M | 7.03% | Oct 2028 | n/a | n/a | Current |
| U-Haul AREC 28 Portfolio | Self storage | $39.5M | 4.493% | Nov 2028 | 2.89x | 81% | 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.