Self Storage - Debt

Northmarq’s Cincinnati office closes acquisition financing of $5.9 million for Affordable RV Storage in Erie, Colorado

CINCINNATI, OHIO (July 11, 2022) – Noah Juran, managing director, and Christina Grimme, vice president, arranged the $5,922,000 acquisition loan for Affordable RV Storage. The 971-space RV storage property is located at 1492 County Road 11 in Erie, Colorado within the Denver MSA.

The non-recourse loan was structured on an 8-year term with 3-years of interest-only which will provide the borrower time to complete their value creation plan within the first few years of ownership. Additional features on the loan included a flexible prepayment structure, future funding availability, and the lender held the interest rate during a rising rate environment.

Each space within the 30-acre property includes pull-through capabilities allowing for convenient parking on site. Affordable RV Storage is a family-owned business and has been serving customers in the greater Denver MSA for over two decades.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.