Self storage portfolio, 11 properties · Multiple locations
U-Haul AREC Portfolio 43
This portfolio is financed with a $30.8M CMBS loan at 2.80% that reaches its anticipated repayment date on January 1, 2031, in 4 years and 2 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $30,804,578
- Original balance (same notes)
- $37,000,000
- Interest rate
- 2.80% fixed
- Originated
- December 23, 2020
- Maturity
- January 1, 2046
- Anticipated repayment date
- January 1, 2031 (the rate steps up if the loan is not repaid by then)
- Payments
- Amortizing over 25 years
- Prepayment lockout ends
- September 30, 2030
- Master servicer
- Trimont LLC
- Originator
- Bank of America, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Units, rooms or beds
- 4,661
- Value at securitization
- $76.7M
Performance
| At securitization | Latest (Mar 2026) | |
|---|---|---|
| DSCR (NOI) | 1.94x | 3.65x |
| Occupancy | 96% | 83% |
| Net operating income | $4.0M | $7.5M |
| Debt yield | 24.4% |
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 2021-BNK31 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
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 83%.
- Net operating income is 89% above the underwritten figure ($7.5M a year against $4.0M).
- Debt service coverage moved from 1.94x at securitization to 3.65x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $30.8M | Current | No | 3.65x | 83% |
| August 2026 | $30.9M | Current | No | 3.65x | 83% |
| July 2026 | $31.0M | Current | No | 3.65x | 83% |
| June 2026 | $31.1M | Current | No | 3.65x | 83% |
| May 2026 | $31.2M | Current | No | 3.68x | 94% |
| April 2026 | $31.3M | Current | No | 3.68x | 94% |
| March 2026 | $31.4M | Current | No | 3.68x | 94% |
| February 2026 | $31.5M | Current | No | 3.73x | 95% |
| January 2026 | $31.6M | Current | No | 3.56x | 95% |
| December 2025 | $31.7M | Current | No | 3.56x | 95% |
| November 2025 | $31.8M | Current | No | 3.56x | 95% |
| October 2025 | $31.9M | Current | No | 3.44x | 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 2021-BNK31 | 7 | $30,804,578 | Sep 2026 | SEC filing, September 29, 2026 |
Other self storage loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Compass Storage National Portfolio | Self storage | $98.2M | 5.85% | Mar 2031 | n/a | n/a | Current | |
| Extra Space Brickell | Miami, FL | Self storage | $65.0M | 3.99% | May 2031 | n/a | n/a | Current |
| Storage of America Portfolio 2 | Self storage | $63.5M | 6.007% | Apr 2031 | n/a | n/a | Current | |
| Extra Space Rock 'N Roll Self Storage Portfolio | Self storage | $63.0M | 3.325% | Mar 2031 | 4.24x | 96% | Current | |
| Soa - E. Washington | Indianapolis, IN | Self storage | $61.5M | 6.007% | Apr 2031 | n/a | n/a | Current |
| Mesa | Mesa, AZ | Self storage | $51.0M | 2.954% | Aug 2031 | n/a | n/a | Current |
| ActivSpace Portfolio | San Francisco, CA | Self storage | $50.0M | 5.738% | Jan 2031 | n/a | n/a | Current |
| Compass Self Storage - Conyers | Conyers, GA | Self storage | $41.0M | 3.66% | May 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.