Updated Dec 4, 2024
Enterprise Bank & Trust Finances Clear Sky Capital For Scottsdale Self-Storage Project
7025 East Mcdowell Road
$17,500,000
$178/SF
Building Size
98,310 SF
Asset Type
MultiFamily
Closing
Mar 8, 2024
About this deal
AI
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.
On the Map
$17,500,000
$178/SF
MultiFamily
View full map
Players
Scottsdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Scottsdale multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93