$36,280,000 | Chicago Capital Funds

Property: U-Stor-It 5 Property Portfolio
Location: IL & CA
Description: Five properties consisting of four Chicago metropolitan area properties, located in suburban Carol Stream and Streamwood plus two in the Chicago city limits, and a fifth asset in San Diego, CA. The IL portfolio consists of 2,548 storage units with 251,545 net rentable square feet. The San Diego facility consists of a four story, 98,000 net rentable SF building with 1,145 storage units plus 16 parking spaces on a 1.9 acre sloped site. The building has three elevators servicing three dedicated loading areas.
Loan Type: Refinance Loan
Lender: National Bank

Client Benefits (IL):

  • Cash out refinance to repatriate equity for future investments
  • Individual, uncrossed, non-recourse loans to enhance future flexibility for the borrower
  • 10-year fixed rate loans to eliminate interest rate risk for the owner’s long-term investment
    horizon

Client Benefits (CA):

  • Interest Only payments to enhance the client’s cash yield
  • Cash out securitized loan to return investor equity
  • 10-year fixed rate non-recourse loan to lock into attractive current interest rates