Updated Oct 29, 2024
New Wave Loans Provides $13M Construction Loan For Self Storage Project In Miami
860 Southwest 143rd Avenue
$13,000,000
$130/SF
Building Size
99,602 SF
Asset Type
Self Storage
Closing
Jul 31, 2023
About this deal
AI
A construction loan worth $13,000,000 was secured for a self-storage property located at 860 Southwest 143rd Avenue in Miami. The asset spans approximately 99,602 square feet.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $13,000,000
- Lender: New Wave Loans
- Landlord: The Feldman Companies - Mitchell Feldman & Jordan Feldman
The construction loan was provided by New Wave Loans to support the development of the self-storage property. The Feldman Companies, represented by Mitchell Feldman and Jordan Feldman, act as the landlords in the transaction.
On the Map
$13,000,000
$130/SF
Self Storage
View full map
Players
Miami Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
Loading comparables…
Deal FAQ
Visit Mitchell Feldman to view all their deals.
Browse Miami self storage loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93