Lubbock Self-Storage

Transaction description

Grady Seldin of PSRS arranged $1,729,000 in acquisition financing for a portfolio of three self-storage facilities located in Lubbock, Texas. This storage portfolio is comprised of 392 units sitting on 3.63 acres with an occupancy rate of 92%. Financed with bank execution, PSRS was able to provide for its borrower a 5-year term with 24 months of interest-only followed by a 30-year amortization, which allows the borrower flexibility to complete their light value add business strategy.