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San Antonio, TX

Jane Fraser Of Citigroup And David Solomon Of Goldman Sachs Provide $425 Million Refinance Loan In San Antonio
FINANCEDSelf Storage

Jane Fraser Of Citigroup And David Solomon Of Goldman Sachs Provide $425 Million Refinance Loan In San Antonio

$425,000,000

$90/SF

Building Size

4,700,000 SF

Asset Type

Self Storage

Closing

Aug 19, 2025

AI

The asset involved in this transaction is a self-storage facility located in San Antonio, TX, encompassing a total square footage of 4,700,000. The lender has provided a loan amount of $425,000,000 through a refinance transaction.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $425,000,000
  • Lender: Jane Fraser - Citigroup & David Solomon - Goldman Sachs
  • Landlord: Liz Raun Schlesinger - Merit Hill Capital & Centerbridge - Jeff Aronson
  • Landlord's Representative: Jordan Roeschlaub, Nick Scribani & John Caraviello - Newmark
  • Loan Type: Refinance
  • Date: 8/20/2025

This transaction highlights the collaboration between several key individuals and firms, including the involvement of Jane Fraser and David Solomon representing the lending institutions. The landlord team, led by Liz Raun Schlesinger and Jeff Aronson, partnered with Newmark, represented by Jordan Roeschlaub, Nick Scribani, and John Caraviello, to facilitate this refinance deal.

Players

Nick Scribani

Newmark

Broker

$55.4B

vol

195 deals

Broker
Goldman Sachs
Goldman SachsLender
Citibank
CitibankLender
Liz Raun Schlesinger

Liz Raun Schlesinger

Merit Hill Capital LP

Landlord

$425M

vol

3 deals

Landlord

Market Self Storage Market Snapshot

Boundary boundary · Self Storage · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93