Updated Oct 29, 2024
BWE Secures $10M Construction Loan For 733-Unit Self-Storage Facility In Lancaster
43713 20th St W Lancaster, CA 93534, USA
$10,000,000
Units
733
Asset Type
Self Storage
Closing
Aug 14, 2023
About this deal
AI
Frontera Real Estate Investments, led by Bryan Grissinger, has secured a $10 million construction loan for a 733-unit self-storage facility in downtown Lancaster, CA. This project aims to meet the growing demand for self-storage in the city.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $10,000,000
- Address: 43713 20th Street West, Lancaster
- Market: Lancaster
- Units: 733
The loan was provided by BWE, with Arash Kouhi serving as their representative. Frontera Real Estate Investments will utilize the loan to finance the construction of the self-storage facility. The loan has a 15-year term, with the initial three years requiring interest-only payments.
Players
Lancaster Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
Loading comparables…
Deal FAQ
Browse California self storage loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93