Jonny Soleimani Of PSRS Pacific Southwest Realty Services Secures $38.2M Bridge Loan For Self Storage In Los Angeles

The transaction involves a vacant approximately 150,000 square feet flex building in Los Angeles, which is planned to be converted into self-storage. The property is associated with a loan amount of $38,200,000 for its development.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $38,200,000
• Loan Type: Bridge
• Loan Terms: 3-Year Term with Extension Options
• Broker: Jonny Soleimani - PSRS- Pacific Southwest Realty Services
• Date of Transaction: 02/14/2025
• Market: Los Angeles
• Cash-out Refinance: $12.8M
• Construction Costs Funded: Yes
• Interest Reserve Period: 18 months

Jonny Soleimani represents the broker agency PSRS- Pacific Southwest Realty Services in this transaction, facilitating the loan that covers both cash-out refinancing and construction costs for the self-storage conversion project.