Extra Space Capital Provides $22M Refinance Loan For Palmetto Bay Self-Storage Property
FINANCED
$22,000,000
Florida
See Similar Deals164,000 SF
Financed 02/16/2022
FINANCED
Extra Space Capital Provides $22M Refinance Loan For Palmetto Bay Self-Storage Property
17500 West Cleveland Avenue, Miami, Florida 33157, United States
See Similar Deals164,000 SF
Financed 02/16/2022
Summary
FLORIDA
Price Per Square Foot:$134
Total Square Footage:164,000 SF
Transaction Type:Loan
An investment property located at 17650 Cleveland Ave in Palmetto Bay, Miami has recently undergone a refinancing transaction. The property is a self-storage facility with a total square footage of 164,000. The asset type is categorized as self-storage, providing storage spaces for personal and commercial use.
Summary of transaction details
- Property Type: Self-Storage
- Transaction Amount: $22,000,000
- Address: 17650 Cleveland Ave, Palmetto Bay, Miami
- Market: Palmetto Bay, Miami
- Asset Type: Self-Storage
- Square Footage: 164,000
The lending institution involved in the refinancing is Extra Space Capital - represented by Irena Edwards as their loan officer. On the other hand, Mitchell Feldman and Justin Crow of The Feldman Companies are the landlords and owners of the property. They have facilitated the refinancing process to unlock the value of the self-storage facility.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,000,000.00
Monthly NOI$146,666.67
Monthly Debt Service$139,054.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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