Gramor Development Washington Secures $8.8M Loan For Cubes Self Storage In Covington

Gramor Development Washington has secured an $8.8 million permanent loan for Cubes Self Storage, a 65,902-rentable-square-foot facility located at 27115 164th Avenue Southeast in Covington, WA. The loan was provided by Transamerica Life InsuranceCo.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $8,800,000
• Address: 27115 164th Avenue Southeast, Covington, WA
• Market: Covington, WA
• Asset Type: Self Storage
• Size: 65,902 square feet

The loan terms for this transaction consist of a seven-year, fixed-rate loan with interest-only payments for the initial two years. The loan was facilitated by brokers David DiRienzo, Kim Bishop, Ivan Viramontes, and Lauren Maehler of Talonvest Capital. The landlord for Cubes Self Storage is Barry Cain of Gramor Development Washington.