Self storage portfolio, 5 properties · New Jersey
Prime Storage - Blue Portfolio
This portfolio is financed with a $20.0M CMBS loan at 6.21% that reaches maturity on May 6, 2029, in 2 years and 6 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $20,000,000
- Original balance (same notes)
- $20,000,000
- Interest rate
- 6.21% fixed
- Originated
- April 22, 2024
- Maturity
- May 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- December 5, 2028
- Master servicer
- Wells Fargo Bank, NA
- Originator
- Citi Real Estate Funding Inc.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 4,355
- Value at securitization
- $91.2M
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.45x | 1.13x |
| Occupancy | 93% | 80% |
| Net operating income | $5.3M | $4.1M |
| Debt yield | 20.6% |
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-V8 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 1, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% 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 80%.
- Net operating income is 22% below the underwritten figure ($4.1M a year against $5.3M).
- Debt service coverage moved from 1.45x at securitization to 1.13x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $20.0M | Current | No | 1.13x | 80% |
| August 2026 | $20.0M | Current | No | 1.13x | 80% |
| July 2026 | $20.0M | Current | No | 1.13x | 80% |
| June 2026 | $20.0M | Current | No | 1.13x | 80% |
| May 2026 | $20.0M | Current | No | 1.20x | 83% |
| April 2026 | $20.0M | Current | No | 1.20x | 83% |
| March 2026 | $20.0M | Current | No | 1.08x | 84% |
| February 2026 | $20.0M | Current | No | 1.08x | 84% |
| January 2026 | $20.0M | Current | No | 1.14x | 83% |
| December 2025 | $20.0M | Current | No | 1.14x | 83% |
| November 2025 | $20.0M | Current | No | 1.14x | 83% |
| October 2025 | $20.0M | Current | No | 1.13x | 79% |
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-V8 Mortgage Trust | 19 | $20,000,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other New Jersey loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Equinix Data Center | Secaucus, NJ | Other | $100.0M | 3.30% | Oct 2029 | 2.41x | 100% | Current |
| Garden State Plaza | Paramus, NJ | Retail | $100.0M | 6.613% | Jan 2029 | 2.76x | 90% | Current |
| Center for Excellence | Bridgewater, NJ | Industrial | $91.2M | 3.73% | Aug 2029 | 2.65x | 93% | Current |
| 33 West State Street and 50 East State Street | Trenton, NJ | Office | $90.0M | 7.35% | Feb 2029 | 1.53x | 94% | Current |
| Lotus 315 & Essence 144 | East Orange, NJ | Multifamily | $86.1M | 6.42% | Jun 2029 | 1.20x | 94% | Current |
| The Metropolitan Apartments | Edgewater, NJ | Multifamily | $75.0M | 6.36% | Oct 2029 | n/a | n/a | Current |
| Grm South Brunswick | South Brunswick, NJ | Industrial | $72.0M | 7.05% | Oct 2029 | 1.42x | 100% | Current |
| University Square, Princeton | Princeton, NJ | Office | $69.2M | 3.80% | Jul 2029 | 0.20x | 62% | 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.