Merrill Lynch Bank Of America Provides $18.2M Construction Loan For Watsonville Self Storage

The property asset involved in this transaction is a self-storage facility located at 71 Neilson Street in the Watsonville market. The facility encompasses a total of 150,000 square feet and is operated by Watsonville Self Storage. The loan amount for construction purposes is $18,200,000, provided by Merrill Lynch - Bank of America.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $18,200,000
• Address: 71 Neilson Street
• Market: Watsonville
• Lender: Merrill Lynch - Bank of America
• Landlord: Watsonville Self Storage
• Brokers: Sam Stein, Matt Bucaro & Steve Stein - Tauro Capital Advisors
• Loan Type: Construction
• Square Footage: 150,000

The transaction was facilitated by brokers Sam Stein, Matt Bucaro, and Steve Stein from Tauro Capital Advisors. The collaboration of these brokers was critical in structuring the loan deal, ensuring that all parties' interests were represented effectively throughout the transaction process.