L&N’s Ruben Navarro was successful in arranging a $1.6MM first mortgage secured by a 57,000 sq ft self-storage facility in Loves Park, IL. In order to avoid maturity default, the transaction was closed in ten business days from the time the lender received the request. Along with an expeditious closing, the new facility came with the comfort of having an attractive 5yr term carrying a rate of 4.90% with a 20yr amortization at 75% Loan-to-value.
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