YourStorageUnits Capital Partners Secures $75 Million Construction Loan For Self Storage Portfolio In Florida
$75,000,000
Building Size
—
Asset Type
Self Storage
Closing
Jul 23, 2024
AI
The asset involved in the transaction is a self-storage portfolio featuring a total of 4,082 climate-controlled units. Located in the Florida markets of Vero Beach, Sebring, Ocoee, Cocoa, Ft. Myers, and Ft. Pierce, it consists of six Class A self-storage properties designed to include interior drive-through unloading zones and covered canopy boat and RV parking.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $75,000,000
- Loan Type: Construction Loan
- Loan Terms: 4-year
- Landlord: YourStorageUnits Capital Partners
- Brokers: Griffin Guthneck, John Williamson & Sher Hafeez - JLL
The deal was facilitated by JLL Capital Markets, responsible for securing the construction loan for YourStorageUnits Capital Partners. The representatives involved in this transaction include Griffin Guthneck, John Williamson, and Sher Hafeez, all affiliated with JLL.
Players
Market 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93