Self storage · Swartz Creek, Michigan
Swartz Creek Mini Storage
Swartz Creek Mini Storage is financed with a $4.6M CMBS loan at 6.416% that reaches maturity on June 1, 2031, in 4 years and 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $4,600,000
- Original balance (same notes)
- $4,600,000
- Interest rate
- 6.416% fixed
- Originated
- May 20, 2026
- Maturity
- June 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- November 30, 2030
- Master servicer
- Midland
- Originator
- BANA
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 5256 Morrish Road, Swartz Creek, MI 48473
- Rentable area
- 107,000 sq ft
- Units, rooms or beds
- 510
- Built
- 1996, renovated 2020
- Value at securitization
- $6.5M (Mar 2026)
Performance
| At securitization | Latest | |
|---|---|---|
| DSCR (NOI) | 1.57x | n/a |
| Occupancy | 84% | n/a |
| Net operating income | $471K | n/a |
Watch flags
Computed from the BANK5 2026-5YR23 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.
The last 3 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $4.6M | Current | No | n/a | n/a |
| August 2026 | $4.6M | Current | No | n/a | n/a |
| July 2026 | $4.6M | Current | No | 1.53x | 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 |
|---|---|---|---|---|
| BANK5 2026-5YR23 | 32 | $4,600,000 | Sep 2026 | SEC filing, October 1, 2026 |
Other Michigan loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Ameriguard Ministorage - Swartz Creek | Swartz Creek, MI | Self storage | $10.9M | 3.60% | Jan 2031 | n/a | n/a | 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.