Gantry has secured $18 million in financing to refinance two branded self-storage facilities in Southern California. The loan allows the borrower, a private investment sponsor, to address pending loan maturities for a newly constructed facility in Miramar and a fully stabilized asset in Simi Valley. The properties are located at 52 Tierra Rejada Road in Simi Valley and 7988 Miramar Road in San Diego, offering a total of 1,634 self-storage units.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $18,000,000
• Loan Type: Refinance
• Loan Terms: 10-year life company loan features an attractive fixed rate with 30-year amortization
• Brokers: Peter Welsh & Bahman Mirhashemi - Gantry

The loan was arranged by Peter Welsh and Bahman Mirhashemi from Gantry. The refinancing will provide the borrower with an attractive fixed rate and a 30-year amortization schedule. This will help them address pending loan maturities for their newly constructed facility in Miramar and their fully stabilized asset in Simi Valley.