Updated Dec 4, 2024
Bank Hapoalim Provides $18.3M Construction Loan For Miami Self Storage Property
2915 Northwest 36th Street
$18,300,000
$187/SF
Building Size
97,422 SF
Asset Type
Self Storage
Closing
Dec 22, 2023
About this deal
AI
The property involved in this closed transaction is a self-storage facility located at 2915 Northwest 36th Street in Miami. The property spans a total of 97,422 square feet.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $18,300,000
- Address: 2915 Northwest 36th Street
- Market: Miami
- Lender: BHI (Bank Hapoalim)
- Landlord: Zain Koita & Matthew Sprayregen - Knickpoint Ventures
- Broker: Peter Mekras - Aztec Group
The deal was facilitated through a construction loan provided by BHI (Bank Hapoalim). The landlord of the property is Zain Koita and Matthew Sprayregen, representing Knickpoint Ventures. Peter Mekras from Aztec Group served as the broker in this transaction.
On the Map
$18,300,000
$187/SF
Self Storage
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Players
Miami 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93