Global Storage Partners, LLC Secures $4M Construction-to-Mini-Permanent Loan For Memphis Self Storage
Memphis, Tennessee, United States
$4,000,000
$48/SF
Building Size
83,040 SF
Asset Type
—
Closing
Jul 7, 2022
AI
Global Storage Partners, LLC has closed a loan for a self-storage property in Memphis, TN. The property, spanning 83,040 square feet, is located in the market of Memphis, TN. The loan amount for this transaction was $4,000,000 and it was structured as a construction-to-mini-permanent loan.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $4,000,000
- Market: Memphis, TN
- Asset Size: 83,040 square feet
The deal was facilitated by Matt Weilgus from Mag Mile Capital, who represented Global Storage Partners, LLC in this transaction.
Players
Memphis 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93