$62,000,000 | SoCal Self Storage

Property: SoCal Self Storage Portfolio
Location: Hollywood, Camarillo, Northridge, Pasadena & Rancho Santa Margarita, CA
Description: 5 class-A, urban in-fill, Southern California stores consisting of 349,600 rentable square feet in 3,722 units.
Loan Type: Refinance Loan
Lender: Money Center Bank

Client Benefits:

  • Non-recourse bank balance sheet loan
  • Full term (10 years) IO payments to maximize cash flow for the owners
  • Rate locked at application to minimize risk associated with volatile market conditions
  • No CapEx or Insurance impounds to enhance borrower’s control of funds
  • Future earn-out option