JLL Arranges $17.5M Loan For Self Storage Facility In Scottsdale
16136 North Pima Road
$17,500,000
Building Size
—
Asset Type
Self Storage
Closing
Feb 29, 2024
AI
A forthcoming Class A self-storage facility in Scottsdale has secured $17.5 million in construction financing. The property, located at 16136 North Pima Road, was financed by Enterprise Bank for Clear Sky Capital.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $17,500,000
- Market: Scottsdale, AZ
- Lender: Enterprise Bank
- Landlord: Clear Sky Capital
- Brokers: Jason Carlos & Kevin Mackie - JLL
JLL Capital Markets played a crucial role in arranging the construction financing for the self-storage facility, with Jason Carlos and Kevin Mackie from JLL representing the deal.
Players
Scottsdale Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
Loading comparables…
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