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14876 Raymer Street

Calmwater Capital Provides $18.2 Million Construction Loan For Self Storage In Van Nuys
FINANCEDSelf Storage

Calmwater Capital Provides $18.2 Million Construction Loan For Self Storage In Van Nuys

14876 Raymer Street

$18,200,000

$279/SF

Building Size

65,220 SF

Asset Type

Self Storage

Closing

Aug 30, 2024

AI

The property asset involved in this transaction is a self-storage facility located at 14876 Raymer Street in the Van Nuys market, encompassing a total square footage of 65,220. The construction loan amount for this asset is $18,200,000.

Summary of transaction details:

The deal includes key individuals and companies involved, with Larry Grantham, Zach Novatt, and Ryan Morrell representing Calmwater Capital as the lenders. Christ Tourtelotte and Bryan Miranda are the landlords from LaTerra Development, while the brokerage representation is provided by Stephen Van Leer, John Williamson, Brian Somoza, and Chad Morgan from JLL.

Players

Brian Somoza

JLL

Broker

$382.6M

vol

25 deals

Broker
Calmwater Capital
Calmwater CapitalLender

Van Nuys Self Storage Market Snapshot

Boundary boundary · Self Storage · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.87%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93