$16,486,000 | TVG Partners & Clark Investment Group

Property: Secure Self Storage
Location: Norwalk, CT
Description: Class A self storage facility located at 587 Connecticut Avenue in Norwalk, Connecticut. The newly constructed, state-of-the-art facility totals 72,490 net rentable square feet across 766 climate-controlled storage units and 2 RV parking spaces. Norwalk is situated along the Gold Coast, one of the wealthiest areas of the country, and is approximately 48 miles Northeast of New York City.
Loan Type: Refinance/Bridge Loan
Capital Providers: Midwestern based Bank

Client Benefits:

  • Returned Owner’s original equity
  • 3.5-year term with 36 months IO
  • Limited recourse
  • Priced at low 200’s over LIBOR