Updated Oct 28, 2024
Infrastructure Bank And PACE Loan Group Provide $3.2M Loan For Self Storage In Providence, RI
1117 Eddy Street, Providence, Rhode Island 02905, United States
$3,200,000
$20/SF
Building Size
155,850 SF
Asset Type
—
Closing
Dec 9, 2021
About this deal
AI
The self storage property located at 1117 Eddy St in Providence, RI has been involved in a recent transaction. The property spans an area of 155,850 square feet and is categorized as a self storage asset.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $3,200,000
- Lender: Infrastructure Bank & PACE Loan Group - Rafi Golberstein
- Landlord: Cogent Capital Group - Ned Mahic
Rafi Golberstein, representing Infrastructure Bank & PACE Loan Group, provided the loan for this transaction. Ned Mahic, from Cogent Capital Group, served as the landlord in this deal.
Players
Providence CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93