North Palisades Partners Secures $55M Refinance Loan From Goldman Sachs For Self Storage Facility

The property asset involved in this transaction is a newly completed self-storage facility located at 1920 Randolph Street in Huntington Park. The facility encompasses 214,000 square feet and comprises 3,039 units, reflecting the increasing demand for storage solutions in a dense, supply-constrained submarket.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $55,000,000
• Address: 1920 Randolph Street
• Market: Huntington Park
• Landlord: Joe Mishurda & Steve Cobbs - North Palisades Partners
• Brokers: Arman Samouk, Mark Finan, Thomas Traynor & Tom Rugg - CBRE
• Loan Type: Refinance
• Loan Terms: five-year

Goldman Sachs Alternatives provided the financing for this transaction, executing a refinance that will retire construction debt and support future growth strategies for North Palisades Partners. CBRE played a pivotal role in arranging the five-year bridge loan that facilitates these financial objectives.