Nuveen Provides $115 Million Refinance Loan To Storage Post For Self Storage Assets In New York & New Jersey
FINANCED
$115,000,000
New York
See Similar DealsSelf Storage900,949 SF
Financed 11/05/2024
FINANCED
Nuveen Provides $115 Million Refinance Loan To Storage Post For Self Storage Assets In New York & New Jersey
330 Madison Avenue
See Similar DealsSelf Storage900,949 SF
Financed 11/05/2024
Summary
NEW YORK
Asset Type:Self Storage
Price Per Square Foot:$127
Total Square Footage:900,949 SF
Transaction Type:Loan
The transaction involves a self-storage asset located in the New York and New Jersey market, consisting of a total square footage of 900,949 and a total of 9,578 units across 9 distinct assets. The transaction was a refinance with a loan amount of $115,000,000.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $115,000,000
- Lender: Nuveen
- Landlord: Storage Post
- Brokers: Steven Klein & Robert Tonnessen - JLL
- Loan Type: Refinance
This transaction highlights the involvement of prominent brokers Steven Klein and Robert Tonnessen from JLL, who represent the landlord, Storage Post, in navigating this refinance deal, thereby facilitating the financial aspects required for the asset's operational success.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$115,000,000.00
Monthly NOI$766,666.67
Monthly Debt Service$726,878.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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