Self Storage - Debt

Northmarq arranges $17.75 million refinance for self-storage facility in San Diego, California

SAN DIEGO, CALIFORNIA (August 29, 2022) – Wyatt Campbell, vice president, and Conor Freeman, vice president of Northmarq’s San Diego office, arranged the $17.75 million refinance of a newly developed self-storage facility in San Diego, California. The three-story property contains more than 1,200 units. Northmarq arranged the financing for the borrower through its correspondent relationship with a life insurance company.

“This loan was rate locked while the property was in lease-up and funded when the property was near stabilization,” said Campbell. “This pre-stabilized execution gave the borrower the ability to be ahead of the market and mitigate interest-rate volatility.”

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.