OMAHA, Nebraska – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $14.4 million in financing for two self-storage properties, including Empire Lockers at 2878 Nansen Drive in Medford, Oregon and All About Storage at 11109 Olive Street in La Vista, Nebraska, a suburb of Omaha, Nebraska.
The financings were secured by MMCC’s Phillip Gause, first vice president, based in Denver, Colorado.“These transactions were a great demonstration of Marcus & Millichap’s unique ability to dynamically reposition private client capital by leveraging its investment sales and capital markets platforms,” said Gause. “MMCC was able to add value by identifying the most aggressive lenders for each component of the portfolio which significantly increased the client’s returns from the legacy asset they traded out of to initiate the exchange.”
The $7.2 million 10-year fixed-rate loan for Empire Lockers has an LTV of 60 percent and an interest rate of 3.75 percent. The 282-unit property is 100 percent occupied and is comprised of seven buildings across 45,384 rentable square feet. Built in 2020, the property is equipped with state-of-the-art climate and non-climate-controlled units, temperature sensors, motion detectors, an extensive security camera system, and touchless leasing and facility access. The property is
adjacent to Rogue Valley International Medford Airport and offers ease of access to nearby I-5. The $7.19 million 10-year term loan for All About Storage has an LTV of 60 percent and an interest rate of 4.125 percent. Built in 2005, the property’s 130,510 rentable square feet is distributed into 780 storage units of which 83% are occupied. The property is located in the rapidly expanding Omaha market, having experienced a sustained population and continued income growth over the last few years.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2021, MMCC closed 2,474 transactions totaling $11.6 billion. To learn more, please visit: marcusmillichap.com/financing
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