Updated Dec 4, 2024
New Wave Loans Funds $27M Construction Loan For Self Storage In Parkland
7820 Loxahatchee Road
$27,000,000
$181/SF
Building Size
148,722 SF
Asset Type
Self Storage
Closing
Jul 2, 2024
About this deal
AI
The self storage property located at 7820 Loxahatchee Road in Parkland spans across 148,722 square feet. The property was involved in a recent transaction where a construction loan of $27,000,000 was secured through New Wave Loans. The landlords of the property are Jordan Feldman, Mitchell Feldman, Ryan Briggs, and Matthew Beggs of The Feldman Companies.
Summary of transation details:
- Property Type: Self Storage
- Transaction Amount: $27,000,000
- Address: 7820 Loxahatchee Road
- Market: Parkland
- Lender: New Wave Loans
- Landlords: Jordan Feldman, Mitchell Feldman, Ryan Briggs, Matthew Beggs - The Feldman Companies
The individuals involved in the transaction include Jordan Feldman, Mitchell Feldman, Ryan Briggs, and Matthew Beggs, who collectively represent The Feldman Companies as the landlords. They successfully secured a construction loan to facilitate the development of the self storage property in Parkland.
Players
Pompano Beach 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93