L Street Self Storage

Location: Chula Vista, CA
Type: Self Storage
Price: $ 6,300,000

SMC has provided a $6,300,000 first mortgage loan collateralized by L Street Self-Storage, a 771-unit self-storage located in Chula Vista, CA. The Property’s improvements were constructed in 1998 and are located in an extremely high density location in San Diego County, with little or no available land for new competition. The Property benefits from its proximity to and visibility from Interstate-5, the main interstate Highway in the West Coast. Proceeds of the loan were used to repay an existing lien and to provide a return of equity to the sponsor.