Ventura Self-Storage

Transaction description

Seth Ludwick and Thomas Rudinsky of PSRS arranged the $1.85 million refinance of a self-storage property in Ventura, California. The subject property is an 820-unit self-storage facility offering a diverse mix of unit sizes ranging from 25 to 290 square feet. The facility features comprehensive security, including 24/7 surveillance cameras, controlled electronic gate access, night patrol, and an on-site resident manager available seven days a week. PSRS financed the loan through one of its correspondent life insurance companies, providing its borrower with a recourse loan featuring a three-year term and 25-year amortization.