{"id":1004198288,"date":"2017-11-23T07:26:44","date_gmt":"2017-11-23T15:26:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198288"},"modified":"2022-12-07T12:44:31","modified_gmt":"2022-12-07T20:44:31","slug":"fl-self-storage-project-receives-8m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fl-self-storage-project-receives-8m-loan\/","title":{"rendered":"FL Self-Storage Project Receives $8M Loan"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004198293\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004198293\" data-attachment-id=\"1004198293\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fl-self-storage-project-receives-8m-loan\/preferred-storage-plantation-fla\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Preferred Storage, Plantation, Fla.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Preferred Storage, Plantation, Fla.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg?w=800\" class=\"wp-image-1004198293 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg\" alt=\"Preferred Storage, Plantation, Fla.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Preferred-Storage-Plantation-Fla..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004198293\" class=\"wp-caption-text\">Preferred Storage, Plantation, Fla.<\/p><\/div>\n<p>Walker &amp; Dunlop Inc. has structured a $8.1 million construction loan for Preferred Storage, a 101,533-square-foot self-storage facility in Plantation, Fla. The loan, secured through a national bank, is structured with a 10-year term and 12-month construction period, followed by a 36-month stabilization period on an interest-only basis. The remaining six years of the loan term will be amortized over 25 years.\u00a0<\/p>\n<p>The three-story facility will be built on a 4.2-acre site located at 4589 W. Sunrise Blvd., between Interstate 95 and Florida Turnpike. Preferred Storage will feature climate-controlled units, 24-hour access, on-site management, video surveillance and free truck rental.\u00a0The development is slated for completion\u00a0in the first part of 2018.<\/p>\n<h2>Growing market<\/h2>\n<p>The Florida self-storage market is continuously increasing. Recently, Mequity LLC began the development of a\u00a096,295-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/jernigan-capital-continues-self-storage-expansion\/\">self-storage project<\/a> in Miami. The new facility is slated for completion by 2019.<\/p>\n<p><em>\u201cSelf-storage properties were traditionally a mom and pop business, but it is now a growing institutional category of real estate with a number of REITs and national funds acquiring and owning this asset class. We were able to work with a large bank to provide desirable financing for our client,\u201d<\/em> mentioned David Gahagan, managing director at Walker &amp; Dunlop, in a prepared statement. David Gahagan together with Senior Analyst Ariel Zucker led the company\u2019s team in arranging the loan for the Plantation project.<\/p>\n<p><em>Image courtesy of Walker &amp; Dunlop<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walker &amp; Dunlop has arranged the loan, structured with a 10-year term and 12-month construction period. Preferred Storage is expected to be completed in 2018. <\/p>\n","protected":false},"author":871,"featured_media":1004198293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,1492,21742,32781],"tags":[38417,34573],"class_list":["post-1004198288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-miami","category-latest","category-southeast","tag-preferred-storage","tag-walker-and-dunlop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FL Self-Storage Project Receives $8M Loan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fl-self-storage-project-receives-8m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FL Self-Storage Project Receives $8M Loan\" \/>\n<meta property=\"og:description\" content=\"Walker &amp; Dunlop has arranged the loan, structured with a 10-year term and 12-month construction period. 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