Self storage portfolio, 4 properties · Oregon
Oregon Self Storage Portfolio
This portfolio is financed with a $18.0M CMBS loan at 3.307% that reaches maturity on December 1, 2028, in 2 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $18,000,000
- Original balance (same notes)
- $18,000,000
- Interest rate
- 3.307% fixed
- Originated
- November 2, 2021
- Maturity
- December 1, 2028
- Payments
- Interest only for the full term
- Prepayment lockout ended
- December 31, 2023
- Prepayment premium ends
- August 31, 2028 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Units, rooms or beds
- 2,018
- Value at securitization
- $27.5M (Oct 2021)
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 2.80x | 4.28x |
| Occupancy | 95% | 89% |
| Net operating income (annualized from 3 months) | $1.7M | $2.6M |
| Debt yield | 14.3% |
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 BANK 2021-BNK38 filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 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 95% when the loan was securitized to 89%.
- Net operating income is 53% above the underwritten figure ($2.6M a year against $1.7M; the latest statement covers 3 months, annualized).
- Debt service coverage moved from 2.80x at securitization to 4.28x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $18.0M | Current | No | 4.28x | 89% |
| August 2026 | $18.0M | Current | No | 4.28x | 89% |
| July 2026 | $18.0M | Current | No | 4.28x | 89% |
| June 2026 | $18.0M | Current | No | 4.28x | 89% |
| May 2026 | $18.0M | Current | No | 4.28x | 89% |
| April 2026 | $18.0M | Current | No | 4.31x | 90% |
| March 2026 | $18.0M | Current | No | 4.18x | 91% |
| February 2026 | $18.0M | Current | No | 4.18x | 91% |
| January 2026 | $18.0M | Current | No | 4.41x | 92% |
| December 2025 | $18.0M | Current | No | 4.41x | 92% |
| November 2025 | $18.0M | Current | No | 4.41x | 92% |
| October 2025 | $18.0M | Current | No | 4.14x | 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 |
|---|---|---|---|---|
| BANK 2021-BNK38 | 12 | $18,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Oregon loans due in 2028
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Aloft Portland Airport | Portland, OR | Hotel | $21.6M | 4.89% | Sep 2028 | 1.31x | 77% | Current |
| Homewood Suites PDX Airport | Portland, OR | Hotel | $17.5M | 8.36% | Nov 2028 | n/a | n/a | Current |
| Hampton Inn Portland Airport | Portland, OR | Hotel | $12.1M | 4.89% | Sep 2028 | 1.35x | 71% | Current |
| River Inn Property | Seaside, OR | Hotel | $7.1M | 5.47% | Aug 2028 | n/a | n/a | Current |
| Stafford Court Apartments | Beaverton, OR | Multifamily | $5.0M | 4.909% | Jul 2028 | 3.09x | 96% | Current |
| Maple Terrace Apartments | Hillsboro, OR | Multifamily | $2.8M | 4.909% | Jul 2028 | 3.65x | 98% | 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.