Self storage · Phoenix, Arizona
Prime Storage - West Phoenix
Prime Storage - West Phoenix is financed with a $9.5M CMBS loan at 5.95% that reaches maturity on October 6, 2029, in 2 years and 11 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,500,000
- Original balance (same notes)
- $9,500,000
- Interest rate
- 5.95% fixed
- Originated
- September 20, 2024
- Maturity
- October 6, 2029
- Payments
- Interest only for the full term
- Prepayment lockout ends
- April 5, 2029
- Master servicer
- Wells Fargo Bank, NA
- Originator
- LMF
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 9220 West Indian School Road, Phoenix, AZ 85037
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 74,860 sq ft
- Units, rooms or beds
- 564
- Built
- 2006
- Value at securitization
- $14.2M (Aug 2024)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 1.31x |
| Occupancy | 87% | 84% |
| Net operating income (annualized from 6 months) | $815K | $757K |
| Debt yield | 8.0% |
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 Wells Fargo Commercial Mortgage Trust 2024-5C2 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 87% when the loan was securitized to 84%.
- Net operating income is 7% below the underwritten figure ($757K a year against $815K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.42x at securitization to 1.31x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.5M | Current | No | 1.31x | 84% |
| August 2026 | $9.5M | Current | No | 1.31x | 84% |
| July 2026 | $9.5M | Current | No | 1.31x | 84% |
| June 2026 | $9.5M | Late payment but less than 30 days delinquent | No | 1.31x | 84% |
| May 2026 | $9.5M | Current | No | 1.31x | 84% |
| April 2026 | $9.5M | Current | No | 1.31x | 84% |
| March 2026 | $9.5M | Current | No | 1.31x | 84% |
| February 2026 | $9.5M | Current | No | 1.36x | 84% |
| January 2026 | $9.5M | Current | No | 1.36x | 84% |
| December 2025 | $9.5M | Current | No | 1.36x | 84% |
| November 2025 | $9.5M | Current | No | 1.36x | 84% |
| October 2025 | $9.5M | Current | No | 1.36x | 84% |
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 |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2024-5C2 | 23 | $9,500,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 3900 Camelback | Phoenix, AZ | Office | $37.5M | 3.48% | Dec 2029 | 1.93x | 24% | Current |
| 4041 Central | Phoenix, AZ | Office | $36.7M | 3.66% | Oct 2029 | 1.90x | 71% | Delinquent |
| Embassy Suites Scottsdale | Scottsdale, AZ | Hotel | $35.5M | 5.915% | Feb 2029 | 2.02x | 81% | Current |
| Riverwalk Business Park | Scottsdale, AZ | Office | $34.5M | 7.718% | Dec 2029 | 2.39x | 95% | Current |
| Papago Gateway Center | Tempe, AZ | Office | $34.0M | 8.248% | Mar 2029 | 2.33x | 99% | Current |
| Marriott Phoenix Airport | Phoenix, AZ | Hotel | $33.9M | 4.128% | Dec 2029 | 3.79x | 69% | Current |
| Scottsdale Center | Scottsdale, AZ | Office | $24.4M | 5.145% | Jan 2029 | 2.68x | 98% | Current |
| Greenway Park Plaza | Phoenix, AZ | Retail | $19.0M | 3.80% | Oct 2029 | 2.00x | 97% | Current |
All loans maturing in 2029 · All Phoenix-Mesa-Chandler 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.