| Property: | StorQuest Van Nuys (15640 Roscoe Blvd.) |
| Location: | Van Nuys, CA |
| Description: | The subject site is in the Van Nuys submarket of Los Angeles. Upon completion, the project will consist of a 7 story, fully climate-controlled, Class A, self-storage property with excellent signage and visibility. The facility will offer approximately 88,301 SF of rentable space, configured into approximately 1,091 rental units. |
| Loan Type: | Construction Loan |
| Capital Provider: | Southern California Community Bank |
Client Benefits:
- Eliminated interest rate risk via a 5-year fixed rate construction loan
- Enhanced ownership’s cash flow with 4 years IO
- Further minimized refi risk with a 5-year extension option
- Increased financing flexibility with no prepayment penalty