Gantry Arranges $7M Loan For Epic Storage @ Ann Road In Las Vegas
10490 West Hammer Lane
$7,000,000
Building Size
—
Asset Type
Self Storage
Closing
Mar 13, 2024
AI
The property asset involved is Epic Storage @ Ann Road, a self-storage facility located at 10490 Hammer Lane in Las Vegas, NV. The facility comprises 681 self-storage units along with 46 RV parking spaces. Gantry has closed a $7 million permanent loan for this property to pay off construction financing.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $7,000,000
- Address: 10490 West Hammer Lane
- Market: Las Vegas, NV
- Units: 681
- Broker: Chris Funai - Gantry
- Loan Terms: 10-year loan
Gantry played a key role in finalizing the $7 million permanent loan for Epic Storage @ Ann Road. Chris Funai from Gantry represented the deal. The loan was specifically secured to pay off the construction financing for this self-storage facility in Las Vegas, highlighting the collaborative effort behind the financial transaction.
Players
Las Vegas 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93