Self storage · Thousand Oaks, California
Tops Self Storage
Tops Self Storage is financed with a $26.1M CMBS loan at 5.00% that reaches maturity on June 6, 2029, in 2 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
- $26,121,681
- Original balance (same notes)
- $27,000,000
- Interest rate
- 5.00% fixed
- Originated
- May 23, 2019
- Maturity
- June 6, 2029
- Payments
- Interest only for 60 months, then amortizing
- Prepayment lockout ends
- March 5, 2029
- Master servicer
- Trimont LLC
- Originator
- Rialto Mortgage Finance, LLC
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3485 Old Conejo Road, Thousand Oaks, CA 91320
- Metro
- Oxnard-Thousand Oaks-Ventura, CA
- Rentable area
- 149,599 sq ft
- Units, rooms or beds
- 1,474
- Built
- 1982, renovated 2018
- Value at securitization
- $42.3M (Mar 2019)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.27x | 1.74x |
| Occupancy | 92% | 94% |
| Net operating income (annualized from 6 months) | $2.2M | $3.1M |
| Debt yield | 11.7% |
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 Wells Fargo Commercial Mortgage Trust 2019-C51 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
- Net operating income is 39% above the underwritten figure ($3.1M a year against $2.2M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.27x at securitization to 1.74x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $26.1M | Current | No | 1.74x | 94% |
| August 2026 | $26.2M | Current | No | 1.72x | 91% |
| July 2026 | $26.2M | Current | No | 1.72x | 91% |
| June 2026 | $26.2M | Current | No | 1.72x | 91% |
| May 2026 | $26.3M | Current | No | 1.74x | 89% |
| April 2026 | $26.3M | Current | No | 1.74x | 89% |
| March 2026 | $26.3M | Current | No | 1.74x | 89% |
| February 2026 | $26.4M | Current | No | 1.78x | 88% |
| January 2026 | $26.4M | Current | No | 1.78x | 88% |
| December 2025 | $26.4M | Current | No | 1.78x | 88% |
| November 2025 | $26.5M | Current | No | 1.78x | 91% |
| October 2025 | $26.5M | Current | No | 1.78x | 91% |
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 2019-C51 | 8 | $26,121,681 | Sep 2026 | SEC filing, September 29, 2026 |
Other Oxnard-Thousand Oaks-Ventura loans due in 2029
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Montalvo Square | Venura, CA | Retail | $55.0M | 3.87% | Jul 2029 | 2.33x | 94% | Current |
| One Westlake | Thousand Oaks, CA | Office | $33.1M | 6.802% | Oct 2029 | n/a | n/a | Current |
| 2801 & 2815 Townsgate | Thousand Oaks, CA | Office | $27.5M | 7.27% | Jun 2029 | 1.73x | 80% | Current |
| El Paseo Simi | Simi Valley, CA | Retail | $23.6M | 3.32% | Aug 2029 | 2.78x | 95% | Current |
| The Palms Marketplace | Oxnard, CA | Mixed use | $23.5M | 6.545% | Nov 2029 | n/a | n/a | Current |
| Westlake Village Marketplace | Westlake Village, CA | Retail | $18.0M | 3.115% | Dec 2029 | 5.46x | 100% | Current |
| Conejo Valley Plaza | Thousand Oaks, CA | Retail | $15.7M | 5.03% | Mar 2029 | 1.69x | 100% | Current |
| Oxnard Port Place Shoppes | Oxnard, CA | Retail | $9.0M | 3.83% | Dec 2029 | 2.97x | 96% | Current |
All loans maturing in 2029 · All Oxnard-Thousand Oaks-Ventura 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.