$7.5MM Refinancing Secured for Moreno Valley Self Storage Facility 

San Diego, Northmarq, Moreno Valley Self Storage, Inland Empire

SAN DIEGO, CALIFORNIA – Conor Freeman, vice president and Wyatt Campbell, vice president in Northmarq’s San Diego office, arranged the $7,500,000 refinance of Moreno Valley Self Storage, a newly constructed self-storage facility in the Inland Empire. The 10-year fixed-rate loan was structured with full-term interest only payments. Northmarq arranged the financing for the borrower through its relationship with a CMBS Lender.

“The permanent loan replaced our client’s existing construction debt and provided cash out with interest only payments for the life of the loan,” said Freeman. “The brand new, state-of-the-art facility leased up rapidly after construction, creating significant competition among our capital sources. The cash out will allow the borrower to move on to their next self-storage development and continue to grow their portfolio.”

About Northmarq

As a capital markets leader, Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $33 billion, loan servicing portfolio of more than $70 billion and the multi-year tenure of our more than 700 people.