Northmarq negotiates $5.85 million financing of West Valley Self Storage & Apex Self Storage in West Valley City, Utah
SAN DIEGO, CALIFORNIA (June 20, 2022) – Wyatt Campbell, vice president in Northmarq’s San Diego debt/equity office secured a $5,850,000 bridge loan for the acquisition and reposition of two self-storage facilities located in West Valley City, Utah. The non-recourse bridge financing was arranged for the Borrower through a debt fund. The loan was structured with future fundings to support the sponsor’s value add business plan.
“The lender provided a high leverage option that was structured with full-term interest-only payments and provided funds for the borrower to improve the property,” said Campbell.
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