Berkadia Finds Financing for Fremont Asset
- Aug 26, 2015
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.
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.