Westerville Self-Storage

$6,840,000 Self-Storage Loan from Life Company Fund

City: Westerville, Ohio
Loan amount: $6,840,000
Lender type: Life Company Fund
Property type: Self-Storage
Size: 424 Units

Transaction description

William DeFanti and Thomas Rudinsky of PSRS arranged the $6.84 million acquisition financing of a self-storage facility in Westerville, Ohio. The subject property is an eight-building, 424-unit, self-storage facility built in 2021. The property also includes 130 uncovered parking spaces for RV’s and boats. Financed with life company fund execution, PSRS provided its borrower with a non-recourse, 36-month interest-only acquisition loan term for this newly built, unstabilized facility in lease-up.

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