Basis Industrial Secures $11M Construction Loan For Self Storage Facility In Melbourne, FL
FINANCED
$11,000,000
Florida
See Similar DealsSelf Storage126,741 SF
Financed 11/14/2023
FINANCED
Basis Industrial Secures $11M Construction Loan For Self Storage Facility In Melbourne, FL
2560 Aurora Road
See Similar DealsSelf Storage126,741 SF
Financed 11/14/2023
Summary
FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$86
Total Square Footage:126,741 SF
Transaction Type:Loan
Located at 2560 Aurora Road in Melbourne, FL, this self storage property encompasses a total of 126,741 square feet. The transaction was a closed deal and involved a construction loan.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $11,000,000
- Market: Melbourne, FL
- Landlord: Basis Industrial
- Lender: American Momentum Bank
- Loan Type: Construction
The loan for this self storage property, located at 2560 Aurora Road in Melbourne, FL, was provided by American Momentum Bank. The landlord involved in the transaction is Basis Industrial. The loan amount for this construction project was $11,000,000.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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