Ross Valley Self-Storage

Transaction description

William DeFanti of PSRS arranged the $7MM permanent fixed-rate refinance of a self-storage property in Kentfield, California. The subject property is an 814-unit self-storage facility with a diverse unit mix. Currently, the facility is 96% occupied and has been at full capacity for many years given how few storage units are in the market. Financed with one of our correspondent life insurance companies, PSRS was able to secure for its borrower a non-recourse loan with a 10-year term, 30-year amortization, and a flexible step-down prepayment penalty.