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Matt Dicker Of Reframe Holdings Secures $51.3M Loan For Self Storage Portfolio In Texas
+ 2
National
See Similar DealsSelf Storage620,000 SF
Leased 05/20/2025
Matt Dicker Of Reframe Holdings Secures $51.3M Loan For Self Storage Portfolio In Texas
Self Storage620,000 SF
Leased 05/20/2025
+ 2
Summary
Asset Type:Self Storage
Total Square Footage:620,000 SF
Reframe Holdings acquired the Steelcreek self-storage portfolio, consisting of eight properties across Dallas, Austin, and Houston, covering a total of 620,000 square feet. The loan for this acquisition amounted to $51,317,000, categorized as a construction loan with a five-year term, featuring non-recourse low interest and a floating rate.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $51,317,000
- Market: Dallas, Austin & Houston
- Loan Type: Construction
- Loan Terms: 5 years, non-recourse low interest, floating rate
- Landlord: Matt Dicker - Reframe Holdings
- Brokers: Anna Siradze, Ivan Viramontes, Britt Taylor, Lauren Maehler & Tom Sherlock - Talonvest Capital
The assets from this transaction will be managed by Extra Space Storage and CubeSmart, with a plan for capital improvements to enhance their value and market presence.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$0.00
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)-$3,892,300.17
Cash-on-Cash Return0.00%
Monthly Debt Service$324,358.35
Annual Debt Service$3,892,300.17
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