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Jonny Soleimani Of PSRS Pacific Southwest Realty Services Secures $38.2M Bridge Loan For Self Storage In Los Angeles

Property Image
FINANCED
$38,200,000

California

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Self Storage150,000 SF
Financed 02/14/2025
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Property Image
FINANCED

Jonny Soleimani Of PSRS Pacific Southwest Realty Services Secures $38.2M Bridge Loan For Self Storage In Los Angeles

Self Storage150,000 SF
Financed 02/14/2025
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Self Storage
Price Per Square Foot:$254
Total Square Footage:150,000 SF
Transaction Type:Loan

The transaction involves a vacant approximately 150,000 square feet flex building in Los Angeles, which is planned to be converted into self-storage. The property is associated with a loan amount of $38,200,000 for its development.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $38,200,000
  • Loan Type: Bridge
  • Loan Terms: 3-Year Term with Extension Options
  • Broker: Jonny Soleimani - PSRS- Pacific Southwest Realty Services
  • Date of Transaction: 02/14/2025
  • Market: Los Angeles
  • Cash-out Refinance: $12.8M
  • Construction Costs Funded: Yes
  • Interest Reserve Period: 18 months

Jonny Soleimani represents the broker agency PSRS- Pacific Southwest Realty Services in this transaction, facilitating the loan that covers both cash-out refinancing and construction costs for the self-storage conversion project.

Players

Jonny Soleimani
PSRS- Pacific Southwest Realty Services
Jonny Soleimani
16 deals$199.8M volume
BROKER

Details

FINANCED
IMAGE: Jonny Soleimani DATE: 02/14/2025 MARKET: Los Angeles ASSET TYPE: Self Storage ~ SF: 150,000 BROKER: Jonny Soleimani (@SoleimaniJonny) - PSRS- Pacific Southwest Realty Services (@PSRSLA) LOAN AMOUNT: $38,200,000 LOAN TYPE: Bridge LOAN TERMS: 3-Year Term with Extension Options NOTE FROM BROKER: $12.8M cash-out refinance of a vacant ~150,000 flex building slated to be converted to self-storage. Fully funded construction costs and an 18-month interest reserve.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$38,200,000.00

Monthly NOI$254,666.67
Monthly Debt Service$241,449.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00