Asset Realty Construction Group Secures $11.2M Construction Loan For Self-Storage In Owings Mills, MD
10544 Reisterstown Rd Owings Mills, MD 21117, USA
$11,200,000
$102/SF
Building Size
109,680 SF
Asset Type
Self Storage
Closing
May 16, 2023
AI
A self-storage property located at 10544 Reisterstown Road in Owings Mills, MD, has been involved in a recent transaction. The property spans over 109,680 square feet and is owned by Asset Realty Construction Group, represented by Dino Tomassetti. The deal was facilitated by brokers Kathy Anderson and Caillin Boles from Progress Capital.
Summary of transaction details
- Property Type: Self-Storage
- Transaction Amount: $11,200,000
- Loan Type: Construction
- Loan Terms: Rate is fixed at 6.30% with no prepayment penalty
The loan obtained for this transaction amounts to $11,200,000 and falls under the category of construction loans. The interest rate on the loan is fixed at 6.30%, and there are no prepayment penalties associated with it.
Players
Owings Mills 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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93