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California  + San Diego  + Retail  | 
Self Storage

Refinance Replaces Existing Construction Loans for Three Self-Storage Assets

Take-out financing was recently arranged for three new self-storage facilities in Southern California. The new fixed rate loans total $30.5 million in consideration.

Wyatt Campbell, vice president of Northmarq’s San Diego office, arranged the financing for the borrower, U STOR IT, through its correspondent relationship with a life insurance company.

“The purpose of the refinance was to replace the existing construction loans while taking advantage of today’s still historic interest rates,” says Campbell. “This loan request resulted in a very competitive process. One of our correspondent life insurance companies won the business by offering a very competitive rate and the ability to rate-lock at application.”


Inside The Story

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Financing