Gantry has secured a $15 million permanent loan to finance the acquisition of a self-storage facility located at 35501 SE Douglas Street in Snoqualmie, Washington.

Now under new management by Store Here, the facility features 85,127 rentable square feet across 873 units and includes climate-controlled and drive-up units, and a secured RV and boat storage yard. The property is also home to a U-Haul equipment rental yard.

Gantry’s Amit Tyagi, Principal, Andy Bratt, Principal, and Sean Kuang, Associate, with the firm’s Los Angeles and Irvine production offices, represented the borrower, a private real estate investment partnership. The five-year loan was secured from one of Gantry’s life company correspondent lenders and features upfront interest-only and non-recourse terms.

“This property was acquired with a relatively low cap rate, and the sponsor’s operational enhancement strategy will provide a lift in cash flows over the first few years,” said Tyagi.