Closed: Refinance of 288-Unit Storage Facility

Q10 KDH Vice President Larry Peters and Senior Associate Adam Unger arranged long-term debt for the refinance of a 288-unit storage facility located in a secondary market in Texas. On behalf of the borrower, Larry and Adam obtained a 10-year, fixed-rate loan at 4.96% interest with an exclusive correspondent life company lender.

“The repeat borrowers of KDH were looking to return costs to the partner,” Larry Peters said. “This non-recourse debt gave them back the cash they were looking for. The interest rate was locked at loan application, which proved to be key in saving the borrowers 25 basis points in the interest rate during an increasing interest rate environment.”