Black Bear Capital Partners ("BBCP") has successfully obtained a $13.68 million construction loan for the Lockport Self Storage project developed by Jacob Development.

The property involved in this transaction is a self-storage facility located at 16732 West 159th Street in Lockport, with a total square footage of 113,120 SF. The transaction is backed by a construction loan amounting to $13,682,002 under an SBA 504 structure.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $13,682,002
• Loan Type: Construction
• Loan Terms: A/B Note totaling $12,482,002 with a 4-year interest-only period followed by 30-year amortization, and a working capital facility of $1,200,000 with a 2-year interest-only period and 20-year amortization, both at 75% LTV.
• Lender: Bank Five Nine/SBA
• Landlord: Jacob Development
• Capital Market Advisors: Matt Stearns, Zach Lutwak-Fitzgerald, and Michael Bernstein - Black Bear Capital Partners

The deal features significant involvement from key individuals in capital market advisory. Matt Stearns, Zach Lutwak-Fitzgerald, and Michael Bernstein represent Black Bear Capital Partners in this transaction, guiding the financial structuring in alignment with the project specifications.