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5351 Wiles Road

Jonathan Lewis Of JLJ Capital Provides $12M Construction Loan For Self Storage In Coconut Creek
FINANCEDSelf Storage

Jonathan Lewis Of JLJ Capital Provides $12M Construction Loan For Self Storage In Coconut Creek

5351 Wiles Road

$12,000,000

$185/SF

Building Size

64,875 SF

Asset Type

Self Storage

Closing

May 23, 2024

AI

The property at 5351 Wiles Road in Coconut Creek, FL is a self-storage asset with a total square footage of 64,875. The transaction involved a construction loan amounting to $12,000,000 and was facilitated by Jonathan Lewis of JLJ Capital. The landlord associated with this property is Southwestern Property Corp.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $12,000,000
  • Address: 5351 Wiles Road
  • Market: Coconut Creek, FL
  • Lender: Jonathan Lewis - JLJ Capital
  • Loan Type: Construction Loan
  • Loan Terms: 24 months

The key individuals involved in this deal are Jonathan Lewis from JLJ Capital, who acted as the lender, and Southwestern Property Corp, the landlord. The loan terms for this transaction span over a period of 24 months.

Players

JLJ Capital
JLJ CapitalLender

Coconut Creek 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93