Updated Dec 4, 2024
Jonathan Lewis Of JLJ Capital Provides $13.7M Construction Loan For Self Storage In Palmetto
4005 US Route 19
$13,675,339
$115/SF
Building Size
118,138 SF
Asset Type
Self Storage
Closing
Feb 27, 2024
About this deal
AI
The property involved in the transaction is a self-storage asset located at 4005 Us Highway 19 in Palmetto, FL. The loan amount for the construction project was $13,675,339, with a loan term of 24 months. The lender for this transaction was Jonathan Lewis from JLJ Capital, working with Southwestern Property Corp as the landlord.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $13,675,339
- Address: 4005 Us Highway 19
- Market: Palmetto, FL
- Loan Type: Construction
- Loan Terms: 24 months
- Landlord: Southwestern Property Corp
- Lender: Jonathan Lewis - JLJ Capital
Jonathan Lewis, representing JLJ Capital, acted as the lender in this construction loan deal. Southwestern Property Corp, as the landlord, facilitated the transaction, ensuring the successful financing of the self-storage asset project in Palmetto, FL.
Players
Palmetto 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
1.16%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93