Global Storage Partners, LLC Secures $4M Construction-to-Mini-Permanent Loan For Memphis Self Storage
FINANCED
$4,000,000
Tennessee
See Similar Deals83,040 SF
Financed 07/08/2022
FINANCED
Global Storage Partners, LLC Secures $4M Construction-to-Mini-Permanent Loan For Memphis Self Storage
Memphis, Tennessee, United States
See Similar Deals83,040 SF
Financed 07/08/2022
Summary
TENNESSEE
Price Per Square Foot:$48
Total Square Footage:83,040 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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