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Enterprise Bank & Trust Finances Clear Sky Capital For Scottsdale Self-Storage Project
FINANCED
$17,500,000
Arizona
See Similar DealsMultiFamily98,310 SF
Financed 03/08/2024
FINANCED
Enterprise Bank & Trust Finances Clear Sky Capital For Scottsdale Self-Storage Project
7025 East Mcdowell Road
See Similar DealsMultiFamily98,310 SF
Financed 03/08/2024
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$178
Total Square Footage:98,310 SF
Transaction Type:Loan
The construction of a 98,310-square-foot self-storage facility in Scottsdale, Arizona, located at 7025 East Mcdowell Road, was financed by Enterprise Bank & Trust. The loan amount extended for this project was $17,500,000, and it was designated as a Construction loan. The landlord overseeing this development is Matthew Collins, who is associated with Clear Sky Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Market: Scottsdale, AZ
- Lender: Enterprise Bank & Trust
- Landlord: Matthew Collins - Clear Sky Capital
JLL Capital Markets played a crucial role in orchestrating the financing for developer Clear Sky Capital of Phoenix, ensuring the successful funding of the self-storage facility construction project.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,500,000.00
Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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