Meridian Capital Group Secures $10.6 Million Refinance For 7 Property Self Storage Portfolio
$10,000,000
$46/SF
Building Size
216,570 SF
Asset Type
Self Storage
Closing
Feb 20, 2025
AI
The transaction involves a self-storage asset located at the 7 Property Self Storage Portfolio, encompassing a total square footage of 216,570. The loan for this asset, amounting to $10,600,000, is a refinance deal. The property is situated across multiple markets, including Salina, KS; Hutchinson, KS; and Afton, TN.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $10,600,000
- Loan Type: Refinance
- Square Footage: 216,570
- Address: 7 Property Self Storage Portfolio
- Market: Salina, KS; Hutchinson, KS; Afton, TN
- Brokers: Benjamin Nevid & Naphtali Marrus - Meridian Capital Group
Benjamin Nevid and Naphtali Marrus represent Meridian Capital Group, which has a significant track record, having closed nearly $3 billion in recent years and currently marketing $1 billion in transactions. They possess over 50 years of combined experience in the industry, facilitating connections between clients and tailored financing solutions across the capital stack.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93