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Talonvest Capital Arranges $21.4M Loan For SpareSpace Storage In Miami

Property Image
FINANCED
$21,400,000
John Chase
Jim Davies
+ 2

Florida

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106,940 SF
Financed 02/25/2022
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Property Image
FINANCED

Talonvest Capital Arranges $21.4M Loan For SpareSpace Storage In Miami

650 Northwest 30th Street, Miami, Florida 33142, United States

See Similar Deals
106,940 SF
Financed 02/25/2022
John Chase
Jim Davies
+ 2
Contact now

Summary

FLORIDA
Price Per Square Foot:$200
Total Square Footage:106,940 SF
Transaction Type:Loan

The self storage property located at 650 Northwest 30th Street in Miami has been involved in a closed transaction. Spanning an area of 106,940 square feet, this self storage facility is owned by SpareSpace Storage.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Date: 02/25/2022
  • Address: 650 Northwest 30th Street, Miami
  • Market: Miami
  • Square Footage: 106,940

In the deal facilitated by Talonvest Capital, the loan amount of $21,400,000 was secured for this self storage property. The loan terms include interest-only payments throughout the loan's duration with the option to extend for two additional 12-month periods.

The transaction was arranged by the following brokers: David DiRienzo, John Chase, Jim Davies, Ivan Viramontes, and Thalia Tovar, all representing Talonvest Capital.

Players

David DiRienzo
4 deals$96.8M volume(949) 387-9960
BROKER

Ivan Viramontes
9 deals$225.8M volume
BROKER

John Chase
1 deal$21.4M volume
BROKER

Thalia Tovar
2 deals$62.8M volume
BROKER

Jim Davies
Talonvest Capital
5 deals$162.9M volume
BROKER

Details

FINANCED
IMAGE: David DiRienzo, Ivan Viramontes, John Chase, Thalia Tovar & Jim Davies DATE: 02/25/2022 ADDRESS: 650 Northwest 30th Street MARKET: Miami ASSET TYPE: Self Storage ~ SF: 106,940 LANDLORD: SpareSpace Storage BROKERS: David DiRienzo, John Chase, Jim Davies, Ivan Viramontes & Thalia Tovar - Talonvest Capital LOAN AMOUNT: $21,400,000 LOAN TERMS: interest-only payments for the life of the loan with two 12-month extension options

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,400,000.00

Monthly NOI$142,666.67
Monthly Debt Service$135,262.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00