Acquisition and Vertical Financing for Self-Storage Expansion
Project Description
Broadmark Realty Capital has funded a $5.74M commercial investment loan to a Minnesota-based investor for the acquisition and additional build-out of three self-service storage facilities in Berkeley Springs, West Virginia. The borrower plans to erect 310 additional units ranging in size from 70-300 sq ft to meet the demand of Morgan County and surrounding areas.
This project is centrally located in the panhandle of West Virginia, roughly 100 miles from Washington, D.C. and 115 miles from Baltimore. The location is also within 200 miles of Philadelphia, Pittsburgh, Richmond, Virginia, and 266 miles from New York City.
Property Type: Self-Storage Facilities
LTC: 65% of ARV
LTC: 80%
Contact Brian Dubin today to get started on your next investment project.
Loan Details
Berkeley Springs, West Virginia
December 2021
$5.74M
Contact Information
Jordan Siao, Eastern Region
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