Meridian Capital Group Arranges $55.5M Self Storage Refinance Loan With Citibank
FINANCED
$55,500,000
National
See Similar DealsSelf Storage1,100,000 SF
Financed 01/11/2024
FINANCED
Meridian Capital Group Arranges $55.5M Self Storage Refinance Loan With Citibank
Self Storage1,100,000 SF
Financed 01/11/2024
Summary
Asset Type:Self Storage
Price Per Square Foot:$50
Total Square Footage:1,100,000 SF
Transaction Type:Loan
A self-storage property with a size of 1,100,000 square feet was involved in a recent loan transaction. The loan, valued at $55,500,000, was provided by Citibank for the purpose of refinancing. The loan terms are set for a duration of 5 years.
Summary of transaction details
- Property Type: Self Storage
- Loan Amount: $55,500,000
- Loan Type: Refinance
- Loan Terms: 5 Years
- Lender: Citibank
- Broker: Naphtali Marrus & Benjamin Nevid - Meridian Capital Group
Naphtali Marrus and Benjamin Nevid from the Meridian Capital Group represented the parties involved in the loan transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,500,000.00
Monthly NOI$370,000.00
Monthly Debt Service$350,797.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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