Updated Dec 21, 2024
Marcus & Millichap Arranges $19.4 Million Loan For 54,000 Square Foot Truckee Self Storage Acquisition
11999 California Highway 267
$19,400,000
$359/SF
Building Size
54,000 SF
Asset Type
Self Storage
Closing
Dec 13, 2024
About this deal
AI
The property involved in this transaction is Airport Self Storage, a facility located at 11999 California Highway 267 in Truckee, California. The asset encompasses a total square footage of 54,000. The financing amount secured for this acquisition was $19,400,000, and the loan type was specifically for acquisition with a duration of 10 years.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $19,400,000
- Address: 11999 California Highway 267
- Market: Truckee
- Loan Type: Acquisition
- Loan Terms: 10-year
- Broker: Joel Westle - Marcus & Millichap
This transaction was facilitated by Joel Westle, who is associated with Marcus & Millichap's San Francisco office. The firm played a critical role in arranging the financing necessary for the acquisition of the self-storage facility.
Players
Truckee Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93