Bank Of America Provides $462.5M Loan For Self Storage Portfolio In Oklahoma
Oklahoma City, Oklahoma, United States
$462,500,000
Building Size
—
Asset Type
—
Closing
Sep 20, 2022
About this deal
AI
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.
On the Map
$462,500,000
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93