Debt, Equity

Storage Facility Secondary Debt


Amount: $3,000,000 • CLTV: 85% • Rate: 8%

Property

Single retail structure with additional buildable square footage.

Scenario

Park 49 recently completed the financing of a storage facility acquisition and conversion located in the Chicago area. Our client was seeking secondary financing for the purchase of a vacant “Big Box” retail property and subsequent conversion to a self-storage facility. We facilitated the successful financing of a commercial acquisition and conversion. We were able to source preferred equity for the client from an institutional capital source.