Citi Real Estate Funding Provides $34.2M Loan For Self Storage Portfolio In Arizona
7340 East Benson Highway, Tucson, Arizona 85756, United States
$34,200,000
Units
3,616
Asset Type
—
Closing
Oct 3, 2022
About this deal
AI
The self storage property located at 7340 East Benson Highway, 1751 East Benson Highway, 1155 East Irvington Road, 5600 South 12th Ave, 110 & 101 South Taylor Ave, 2100 West Baseline Road, 11139 East Apache Trail, 3055 North 30th Ave, 508 North Grant St & 556 East Frank Way has been involved in a loan transaction. The property consists of a total of 3,616 units and is situated in Tucson, Bisbee, Apache Junction, Phoenix, Flagstaff & Williams, AZ.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $34,200,000
- Lender: Citi Real Estate Funding Inc
- Broker: Marcus & Millichap
Citi Real Estate Funding Inc provided a permanent financing loan in the amount of $34,200,000 for the self storage property on 10/04/2022. Marcus & Millichap acted as the broker in this transaction.
Players
Tucson CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93