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New Wave Loans Provides $14.3M Construction Loan For Bristol Self Storage Site

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FINANCED
$14,300,000

Pennsylvania

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Self Storage122,000 SF
Financed 04/22/2024
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Property Image
FINANCED

New Wave Loans Provides $14.3M Construction Loan For Bristol Self Storage Site

Self Storage122,000 SF
Financed 04/22/2024
Contact now

Summary

Asset Type:Self Storage
Price Per Square Foot:$117
Total Square Footage:122,000 SF
Transaction Type:Loan

The self-storage property located at 6051 Bristol Pike in Bristol, Philadelphia, was involved in a recent transaction. The property spans 122,000 square feet and was part of a construction loan deal with a loan amount of $14,300,000. The landlords of the property are Ryan Briggs, Matthew Beggs, Jordan Feldman, and Mitchell Feldman of The Feldman Companies.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $14,300,000
  • Address: 6051 Bristol Pike
  • Market: Bristol, Philadelphia
  • Lender: New Wave Loans
  • Landlords: Ryan Briggs, Matthew Beggs, Jordan Feldman, Mitchell Feldman - The Feldman Companies

The transaction was facilitated by New Wave Loans providing a construction loan for the self-storage property. The landlords of the property, consisting of Ryan Briggs, Matthew Beggs, Jordan Feldman, and Mitchell Feldman, represent The Feldman Companies in this deal.

Players

LENDER

Details

FINANCED
IMAGE: Ryan Briggs, Matthew Beggs, Jordan Feldman & Mitchell Feldman DATE: 04/22/2024 ADDRESS: 6051 Bristol Pike MARKET: Bristol, Philadelphia ASSET TYPE: Self Storage ~ SF: 122,000 LENDER: New Wave Loans LANDLORD: Ryan Briggs (@RyankBriggs), Matthew Beggs (@MattBeggs), Jordan Feldman (@Feldman_Jordan) & Mitchell Feldman (@BigMitchmiami) - The Feldman Companies (@TheFeldmanCompanies) LOAN AMOUNT: $14,300,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,300,000.00

Monthly NOI$95,333.33
Monthly Debt Service$90,385.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00