Gantry secured a $12 million, non-recourse, interest-only loan to refinance the Storelocal Brentwood facility at 681 Old Hickory Blvd in Brentwood, Tennessee, an affluent suburb located just south of Nashville.
The four-story, 87,100-square-foot facility sits on 2.8 acres and offers 755 climate-controlled units. The modern Class A storage facility was completed in 2020 and has further upside to capture through additional rent growth and market absorption.
Gantry’s Andy Bratt, Principal, and Sean Kuang, Associate, with the firm’s Irvine production office represented the borrower, a fully integrated commercial real estate investment and management company specializing in self-storage assets. The three-year, fixed rate, non-recourse loan was secured from a debt fund and features full-term interest only, with prepayment open in year three providing flexibility for a future sale or refinance in better market conditions.
