360 Capital Funding Provides $14.4M Rehab Loan For Industrial Self-Storage Property In Philadelphia, PA
$14,400,000
$96/SF
Building Size
150,000 SF
Asset Type
Industrial
Closing
Dec 21, 2022
AI
360 Capital Funding, represented by Andrew Waldman, provided a $14,400,000 loan for the rehab of a self-storage industrial property in Philadelphia, PA. The property spans 150,000 square feet and is owned by an undisclosed entity.
Summary of Transaction Details:
- Property Type: Industrial - Self-Storage
- Transaction Amount: $14,400,000
- Lender: 360 Capital Funding - Andrew Waldman
- Broker: Michael Lee - HKS Real Estate Advisors
Andrew Waldman, representing 360 Capital Funding, facilitated the loan for the self-storage rehab project. Michael Lee of HKS Real Estate Advisors served as the broker in the transaction.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93