Magellan is Underway with a Self-Storage Facility in Azusa
Magellan Value Partners purchased the 106,582 net rentable square-foot class-A facility in Azusa, CA in 2019 and completed a rigorous entitlement process to obtain permitting for storage use. The three-story plus basement facility will include climate and non-climate-controlled options in the 1,150 units.
Talonvest Capital Inc. recently represented Magellan Value Partners in structuring a $14.4 million self-storage construction loan for the development of the facility. The construction loan featured a five-year fixed interest rate, four years of interest-only payments, limited recourse and a five-year extension option.
Eric Snyder, Kim Bishop, David DiRienzo, Lauren Maehler and Jim Davies were the Talonvest team members responsible for this assignment.
This development is positioned on a major arterial road near the heavily trafficked I-210, a major east-west Los Angeles freeway, and has access via a signalized intersection and high visibility.