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Jonathan Lewis Of JLJ Capital Provides $13.7M Construction Loan For Self Storage In Palmetto

Property Image
FINANCED
$13,675,339

Florida

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Self Storage118,138 SF
Financed 02/27/2024
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Property Image
FINANCED

Jonathan Lewis Of JLJ Capital Provides $13.7M Construction Loan For Self Storage In Palmetto

4005 US Route 19

See Similar Deals
Self Storage118,138 SF
Financed 02/27/2024
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$115
Total Square Footage:118,138 SF
Transaction Type:Loan

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

JLJ Capital
JLJ Capital
LENDER

Details

FINANCED
IMAGE: Jonathan Lewis DATE: 02/27/2024 ADDRESS: 4005 Us Highway 19 MARKET: Palmetto, FL ASSET TYPE: Self Storage LANDLORD: Southwestern Property Corp LENDER: Jonathan Lewis - JLJ Capital LOAN AMOUNT: $13,675,339 LOAN TYPE: Construction LOAN TERMS: 24 months

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,675,339.00

Monthly NOI$91,168.93
Monthly Debt Service$86,437.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00