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Parkview Provides Construction Loan on Yonkers Self-Storage
Parkview Financial provided an $18.3-million construction loan to KCT, Inc. for the development of a Class A, 949-unit self-storage facility at 1060 Nepperhan Ave. in Yonkers, NY. KCT will demolish the existing building where it had operated its business, Health Products Corp., since 1973, and will build an eight-story building on the 0.55-acre lot.
After completion, which is anticipated for late 2023, the project will be operated by CubeSmart. Facility amenities will include surveillance cameras, individual unit locks, climate control, keypad entry and on-site management.
“Parkview Financial saw this as a favorable opportunity to finance a high-quality self-storage facility in Yonkers, a New York suburb that provides a substantial potential customer base,” said Paul Rahimian, CEO and founder of Parkview Financial. “We view self-storage property as a strong asset class as this sector has proven to experience high occupancy throughout all economic cycles.”
- ◦Development
- ◦Financing

