$22,180,000 | William Warren Group

hill street

Property: StorQuest Hill Street
Location: Los Angeles, CA
Description: Class A self storage facility comprised of 111,476 square feet with 1,588 climate-controlled storage units. The property was built and first opened in April 2009. The secure, access-controlled property is located just off the 110 freeway and is within 0.5 miles of the campus at The University of Southern California.
Loan Type: Permanent Loan (Refinance)
Lender: National Bank

Client Benefits:

  • Successful negotiation for a low debt yield resulted in maximum loan proceeds to borrower
  • 10 years of interest only payments maximized cash flow / yield to the ownership
  • Long term fixed rate eliminated interest rate shocks for the next decade
  • Non-recourse loan