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
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