Bank Of America Provides $462.5M Loan For Self Storage Portfolio In Oklahoma
FINANCED
$462,500,000
+ 1
Oklahoma
See Similar DealsFinanced 09/21/2022
FINANCED
Bank Of America Provides $462.5M Loan For Self Storage Portfolio In Oklahoma
Oklahoma City, Oklahoma, United States
See Similar DealsFinanced 09/21/2022
+ 1
Summary
OKLAHOMA
Transaction Type:Loan
A debt package of $462,500,000 has been secured by SpareBox Storage and Davidson Kempner Capital Management to refinance a self storage portfolio in Oklahoma. The portfolio, located at an undisclosed address, comprises self storage assets in the Oklahoma market.
Summary of transation details
- Property Type: Self Storage
- Transaction Amount: $462,500,000
- Lender: Bank of America
- Landlord: SpareBox Storage & Davidson Kempner Capital Management
- Brokers: Dustin Stolly, Jordan Roeschlaub, Nick Scribani & Aaron Swerdlin - Newmark
The debt package, provided by Bank of America, allows SpareBox Storage and Davidson Kempner Capital Management to refinance the self storage portfolio in Oklahoma. The transaction was facilitated by brokers Dustin Stolly, Jordan Roeschlaub, Nick Scribani, and Aaron Swerdlin from Newmark.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$462,500,000.00
Monthly NOI$3,083,333.33
Monthly Debt Service$2,923,314.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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