Multifamily · Reno, Nevada
The Deluxe Apartments
The Deluxe Apartments is financed with a $3.6M CMBS loan at 3.89% that reaches maturity on December 1, 2031, in 5 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
- $3,650,000
- Original balance (same notes)
- $3,650,000
- Interest rate
- 3.89% fixed
- Originated
- November 30, 2021
- Maturity
- December 1, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- July 31, 2031
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 1690 South Wells Avenue, Reno, NV 89502
- Metro
- Reno, NV
- Units, rooms or beds
- 25
- Built
- 1947, renovated 2017
- Value at securitization
- $5.9M (Oct 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.16x | 2.01x |
| Occupancy | 96% | 88% |
| Net operating income (annualized from 6 months) | $310K | $291K |
| 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 BANK 2022-BNK39 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 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 96% when the loan was securitized to 88%.
- Net operating income is 6% below the underwritten figure ($291K a year against $310K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.16x at securitization to 2.01x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $3.6M | Current | No | 2.01x | 88% |
| August 2026 | $3.6M | Current | No | 2.01x | 88% |
| July 2026 | $3.6M | Current | No | 2.07x | 88% |
| June 2026 | $3.6M | Current | No | 2.07x | 88% |
| May 2026 | $3.6M | Current | No | 2.07x | 88% |
| April 2026 | $3.6M | Current | No | 2.28x | 96% |
| March 2026 | $3.6M | Current | No | 2.28x | 96% |
| February 2026 | $3.6M | Current | No | 2.37x | 100% |
| January 2026 | $5.0M | Current | No | n/a | n/a |
| December 2025 | $3.6M | Current | No | 2.37x | 100% |
| November 2025 | $3.6M | Current | No | 2.37x | 100% |
| October 2025 | $3.6M | Current | No | 2.36x | 96% |
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 2022-BNK39 | 50 | $3,650,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Reno loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 9295 & 9315 Prototype Drive | Reno, NV | Industrial | $177.5M | 6.242% | Jun 2031 | n/a | n/a | Current |
| Sparks Crossing | Sparks, NV | Retail | $49.1M | 6.05% | Jan 2031 | n/a | n/a | Current |
| 200 South Virginia Street | Reno, NV | Office | $15.9M | 3.617% | Jul 2031 | 3.60x | 84% | Current |
| South Creek Shopping Center | Reno, NV | Retail | $15.0M | 6.50% | Jan 2031 | n/a | n/a | Current |
| Village at Double Diamond | Reno, NV | Retail | $10.8M | 3.355% | Nov 2031 | 4.07x | 100% | Current |
| Vista Park Self Storage | Sparks, NV | Self storage | $9.8M | 3.472% | Jun 2031 | 3.36x | 87% | Current |
| Kleppe Greg Business Park | Sparks, NV | Industrial | $7.0M | 3.30% | 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.