Premier Storage

$2,400,000 Self-storage Loan from Credit Union

City: Kamas, UT
Loan amount: $2,400,000
Lender type: Credit Union
Property type: Self-storage
Size: 244 Units

Transaction description

William DeFanti of PSRS recently arranged the cash-out refinance of a self-storage property in Kama, Utah. The property completed construction in 2018 and encompasses 244 units. The loan was done with a 10-year fixed-rate term and 30-year amortization schedule that can earnout additional loan dollars with increased leasing velocity. A differentiating factor of the loan was its ability to max dollars by basing metrics on trailing three months of income while still being in lease-up.

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