95% of Equity Stack (98.5% of Capital Stack) financed, Self Storage Construction – Programatic JV Equity, Hialeah, FL

Banyan Commercial Capital LLC advisory assisted our client in securing 95% of the equity required to build 5 self storage facilities throughout Florida. For the first property, the client utilized an existing bank relationship for a 70% LTC construction loan. Banyan Commercial Capital secured 95% of the equity stack in a promoted JV structure, which allowed the client to put only 1.5% of their own funds into the capital stack. This first closing was in Hialeah (Miami-Dade), with others planned in other areas of the state over the next 12 months. Banyan secured a source that was able to create a Joint Venture with the sponsor for programatic equity.  The total deal size is $103,000,000. The equity stack is $30,900,000 with $29,355,000 in secured equity. 

Dan Bockstoce – db@banyancc.com

Michael Brown – mb@banyancc.com