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New Wave Loans Provides $8.388M Construction Loan For Self Storage In Highland

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FINANCED
$8,388,000

Indiana

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Self Storage83,000 SF
Financed 06/25/2024
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FINANCED

New Wave Loans Provides $8.388M Construction Loan For Self Storage In Highland

8621 Osborne Road

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Self Storage83,000 SF
Financed 06/25/2024
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Summary

INDIANA
Asset Type:Self Storage
Price Per Square Foot:$101
Total Square Footage:83,000 SF
Transaction Type:Loan

The self-storage property located at 8621 Osborne Road in Highland, IN spans across 83,000 square feet and was the subject of a recent transaction involving a construction loan of $8,388,000. The property is owned by Jordan Feldman, Mitchell Feldman, operating under The Feldman Companies.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $8,388,000
  • Address: 8621 Osborne Road
  • Market: Highland, IN
  • Lender: New Wave Loans
  • Landlord: Jordan Feldman, Mitchell Feldman - The Feldman Companies
  • Loan Type: Construction Loan

Mitchell Feldman, Jordan Feldman, and Ryan Briggs were the key individuals involved in securing the construction loan for the self-storage property. The lender, New Wave Loans, facilitated the financial aspect of the deal, while The Feldman Companies, represented by Jordan and Mitchell Feldman, acted as the landlords in this transaction.

Players

LENDER

Details

FINANCED
IMAGE: Mitchell Feldman, Jordan Feldman & Ryan Briggs DATE: 06/25/2024 ADDRESS: 8621 Osborne Road MARKET: Highland, IN ASSET TYPE: Self Storage ~ SF: 83,000 LENDER: New Wave Loans LANDLORD: Jordan Feldman (@Feldman_Jordan), Mitchell Feldman (@BigMitchmiami & Ryan Briggs (@RyankBriggs) - The Feldman Companies (@TheFeldmanCompanies) LOAN AMOUNT: $8,388,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,388,000.00

Monthly NOI$55,920.00
Monthly Debt Service$53,017.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00