facebook
Traded Co logo
Submit
Daily limit: 0/10

Basis Industrial Secures $12.1M Construction Loan For Voorhees Township Self-Storage With WSFS Bank

Property Image
FINANCED
$12,100,000
Daniel Weinstein
JM

New Jersey

See Similar Deals
Self Storage113,000 SF
Financed 08/31/2023
the dealplayerscompscontact
Property Image
FINANCED

Basis Industrial Secures $12.1M Construction Loan For Voorhees Township Self-Storage With WSFS Bank

111 Centennial Blvd Voorhees Township, NJ 08043, USA

See Similar Deals
Self Storage113,000 SF
Financed 08/31/2023
Daniel Weinstein
JM
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Self Storage
Price Per Square Foot:$107
Total Square Footage:113,000 SF
Transaction Type:Loan

Basis Industrial has obtained a $12.1 million construction loan from WSFS Bank for a self-storage facility located at 111 Centennial Boulevard in Voorhees Township, New Jersey. The facility has a total square footage of 113,000 and is part of Basis Industrial's nationwide self-storage portfolio expansion.

Summary of transation details

  • Property Type: Self Storage
  • Transaction Amount: $12,100,000
  • Address: 111 Centennial Boulevard, Voorhees Township, New Jersey
  • Market: Voorhees Township

The lender for this transaction is Rodger Levenson from WSFS Bank. Daniel Weinstein, Jay Massirman, and Stephen Garchik from Basis Industrial act as the landlords, and Justin Wheeler from Berkadia serves as the broker. Construction for the facility is scheduled to begin in September 2023, with an expected completion date in the fall of 2024. Public Storage will manage the self-storage facility.

Players

Basis Industrial
Basis Industrial
BROKERAGE
WSFS Bank
WSFS Bank
LENDER
Daniel Weinstein
Basis Industrial
Daniel Weinstein
7 deals$195.1M volume
LANDLORD
JM
Basis Industrial
Jay Massirman
7 deals$405.7M volume
LANDLORD
Basis Industrial
Basis Industrial
LANDLORD

Details

FINANCED
IMAGE: Justin Wheeler, Daniel Weinstein, Jay Massirman, Stephen Garchik & Rodger Levenson DATE: 08/31/2023 ADDRESS: 111 Centennial Boulevard MARKET: Voorhees Township ASSET TYPE: Self Storage ~ SF: 113,000 LENDER: Rodger Levenson - WSFS Bank (@WSFS_Bank) LANDLORD: Daniel Weinstein, Jay Massirman (@JayhMassir) & Stephen Garchik - Basis Industrial (@BasisIndustrial) BROKER: Justin Wheeler - Berkadia (@Berkadia) LOAN AMOUNT: $12,100,000 LOAN TYPE: Construction Loan NOTE: Basis Industrial has obtained a $12.1 million construction loan from WSFS Bank for a Voorhees Township, New Jersey self-storage facility. Construction begins in September 2023, with completion expected in fall 2024, and Public Storage will manage the facility, part of Basis Industrial's nationwide self-storage portfolio expansion.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,100,000.00

Monthly NOI$80,666.67
Monthly Debt Service$76,480.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00