Fixed Rate, Non-recourse Bank Loans: $19,810,000Knightsbridge arranged fixed rate debt financing for five Southern California self storage facilities, totaling 3,700 units and 575,000 net rentable square feet.
Knightsbridge overcame the following challenges:
- The majority of the properties were lease-hold interests (ground lease) with limited remaining terms.
- Identified financing with entity-only guarantee requirements.
- The majority of the storage units were in the form of “containers” vs. conventionally built improvements.