Ontario Storage

Transaction description

David Smyle of PSRS arranged a $5.1 million cash-out refinance for a 468-unit self-storage facility in Ontario, California. Totaling 55,062 rentable square feet, the 2003-built property features a complementary mix of drive-up and interior self-storage units. Sourced through a credit union, PSRS provided the borrower with a seven-year loan term and a 30-year amortization schedule. The financing included a flexible 3-2-1 step-down prepayment structure, enabling the sponsor to monetize accrued equity while maintaining balance sheet stability.