ORIX USA’s Real Estate Capital Group announced the closing of a $10 million first mortgage construction loan that will be used to build a 75,715 NRSF Class A self-storage facility in the Southeast region of the U.S.
The project will be 100% climate-controlled with ground level, weather protected, covered loading and unloading. It will be the newest facility in the submarket and will have excellent access and visibility within a growing, suburban submarket.
“This Class A facility is strategically located in an area with over 35,000 vehicles passing daily and a strong commercial presence featuring national retailers like Publix, LA Fitness, Starbucks, and McDonald’s. We are excited to partner with this experienced sponsor group and to establish a solid lending relationship for future development opportunities,” said Allison Austin, Senior Director of ORIX USA Real Estate Capital.
ORIX USA’s Real Estate Capital group is a proprietary commercial real estate lending business, delivering customized financing for a full range of property types in primary and secondary metropolitan markets in the U.S. and Canada. Loans made or arranged in California are pursuant to a California Financing Law license.
Since inception, the Real Estate Capital Group has successfully invested over $4 billion of balance sheet capital. For over 20 years the Real Estate Capital Group has been reliably providing construction and bridge financing for commercial real estate through a range of market cycles.
The Real Estate Capital Group is comprised of seasoned specialists transacting on a full range of property types. The group specializes in construction, bridge, mezzanine, and preferred equity opportunities and has fully dedicated origination, underwriting, closing, and servicing teams, ensuring that clients’ needs are met with timely execution.