Berkadia Finds Financing for Fremont Asset
August 26, 2015
A self-storage property in the Bay Area was recently financed with the help of Berkadia’s Seattle office.
By Alex Girda, Associate Editor
A self-storage property in Fremont was recently financed with the help of Berkadia’s Seattle office. Louis Weisman, a Berkadia managing director, secured $5.5 million in financing for the Auto Mall Parkway Self Storage on behalf of Hudson Industrial Equities.
Auto Mall Self Storage
Located at 43941 Osgood Road, the 17-year-old property consists of three two-story self-storage facilities offering 683 units that are 98 percent occupied.
Weisman arranged a 10-year, fixed-rate loan that features a 4.4 percent interest rate, 60 percent loan-to-value and a 30-year amortization schedule.
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