California + Los Angeles + Finance | May 25, 2023

Byline Bank Lends $14M on Self-Storage Build in Paramount

Byline Bank’s Commercial Real Estate team has provided a $13.67-million construction loan to Madison Capital Group, a Charlotte-based real estate developer with offices in Newport Beach. Madison Capital will use the funds to develop a new-construction self-storage property, located at 15932 Minnesota Ave. in Paramount.

The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison Capital’s self-storage brand, Go Store It.

“Los Angeles has a vibrant self-storage market,” said John M. Barkidjija, EVP of Byline’s Commercial Real Estate and Specialty Finance Group. “Vacancies remain low and rent growth continues to make this sector attractive.”

Joanne Campanile, Sam Duros and Ana Garcia of Byline Bank managed the loan transaction on behalf of the borrower, working directly with Eric Lentz of Madison Capital Group Holdings. Talonvest’s Eric Snyder, Kim Bishop and Ivan Viramontes brokered the deal.

Pictured: A Go Store It facility in Cumming, GA.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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