ORIX USA’s Real Estate Capital Group announced the closing of a $26.25 million first mortgage construction loan that will be used to build a 112,727 NRSF Class A self-storage facility in Southern California.
The 1,138-unit project will be 100% climate-controlled with ground level drive-in/drive-through climate-controlled loading, which is a unique feature to the market and rare for most self-storage properties. There are no competing Class A self-storage properties within a two-mile radius of the site.
“We were pleased to close our fifth transaction with this outstanding Sponsor and provide financing for an institutional quality self-storage development with exceptional visibility in a market with strong barriers to entry and outstanding fundamentals.” said Allison Austin, Executive Director, 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.