Storage Post Secures $89 Million Acquisition Loan For Self Storage Portfolio In New York City
FINANCED
$89,000,000
New York
See Similar DealsSelf Storage
Financed 07/11/2025
FINANCED
Storage Post Secures $89 Million Acquisition Loan For Self Storage Portfolio In New York City
330 Madison Avenue & 330 Madison Avenue
See Similar DealsSelf Storage
Financed 07/11/2025
Summary
NEW YORK
Asset Type:Self Storage
Transaction Type:Loan
The asset involved is a self-storage facility located at 491 Bergen Street, 4388-4396 Broadway & 471-475 Amsterdam Avenue in New York City. The loan amount for the acquisition of this portfolio is $89,000,000.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $89,000,000
- Lender: Heitman Capital Management
- Landlord: Storage Post
- Brokers: Steven Klein & Robert Tonnessen - JLL
The transaction included representation by JLL, which not only represented the seller but also procured the buyer for the portfolio, highlighting their crucial role in facilitating the deal.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$89,000,000.00
Monthly NOI$593,333.33
Monthly Debt Service$562,540.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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