Self storage · Phoenix, Arizona
Storquest - Phoenix
Storquest - Phoenix is financed with a $8.7M CMBS loan at 6.37% that reaches maturity on June 1, 2035, in 8 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is late, less than 30 days.
The loan
- Balance in tracked trusts
- $8,700,000
- Original balance (same notes)
- $8,700,000
- Interest rate
- 6.37% fixed
- Originated
- May 2, 2025
- Maturity
- June 1, 2035
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 31, 2027
- Prepayment premium ends
- December 31, 2034 (yield maintenance)
- Master servicer
- KeyBank National Association
- Originator
- KeyBank National Association
Status
- Payment status
- Late payment but less than 30 days delinquent (code B)
- Special servicing
- No transfer reported
- Defeasance
- Partly defeased
The property
- Address
- 1616 East Portland Street, Phoenix, AZ 85006
- Metro
- Phoenix-Mesa-Chandler, AZ
- Rentable area
- 83,510 sq ft
- Units, rooms or beds
- 746
- Built
- 2016
- Value at securitization
- $16.6M (Mar 2025)
Performance
| At securitization | Latest (Dec 2025) | |
|---|---|---|
| DSCR (NOI) | 1.42x | 1.50x |
| Occupancy | 80% | 84% |
| Net operating income | $796K | $842K |
| Debt yield | 9.7% |
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 BMO 2025-C12 Mortgage Trust filing for the reporting period ending September 11, 2026, filed with the SEC October 2, 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 risen from 80% when the loan was securitized to 84%.
- Net operating income is 6% above the underwritten figure ($842K a year against $796K).
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $8.7M | Late payment but less than 30 days delinquent | No | 1.50x | 84% |
| August 2026 | $8.7M | Current | No | 1.50x | 84% |
| July 2026 | $8.7M | Current | No | 1.50x | 84% |
| June 2026 | $8.7M | Current | No | 1.50x | 84% |
| May 2026 | $8.7M | Current | No | 1.50x | 84% |
| April 2026 | $8.7M | Current | No | 1.36x | 84% |
| March 2026 | $8.7M | Current | No | 1.36x | 84% |
| February 2026 | $8.7M | Current | No | 1.36x | 84% |
| January 2026 | $8.7M | Current | No | n/a | n/a |
| December 2025 | $8.7M | Current | No | n/a | n/a |
| November 2025 | $8.7M | Current | No | n/a | n/a |
| October 2025 | $8.7M | Current | No | n/a | n/a |
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 |
|---|---|---|---|---|
| BMO 2025-C12 Mortgage Trust | 21 | $8,700,000 | Sep 2026 | SEC filing, October 2, 2026 |
Other Phoenix-Mesa-Chandler loans due in 2035
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Renaissance Phoenix Downtown | Phoenix, AZ | Hotel | $55.0M | 5.70% | Nov 2035 | 7.29x | 78% | Current |
| 67th & Camelback | Glendale, AZ | Mixed use | $20.5M | 6.458% | Oct 2035 | n/a | n/a | Current |
| Foothills Park Place Shopping Center | Phoenix, AZ | Retail | $20.0M | 7.365% | Apr 2035 | 2.18x | 100% | Current |
| Mountainview Marketplace | Phoenix, AZ | Retail | $12.3M | 6.955% | Jan 2035 | 1.81x | 93% | Current |
| Glendale Plaza | Glendale, AZ | Retail | $11.1M | 7.04% | Jan 2035 | 1.23x | 100% | Current |
| Grandview Shopping Center, Glendale | Glendale, AZ | Retail | $7.3M | 6.594% | Jun 2035 | 2.29x | 100% | Current |
| Storquest - Tempe | Tempe, AZ | Self storage | $5.2M | 6.438% | Jun 2035 | 1.55x | 84% | Current |
| Black Bear Center | Glendale, AZ | Retail | $4.1M | 6.85% | Jun 2035 | 2.54x | 97% | 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.