Subscribe to Our Weekly Newsletter
ISS is the most comprehensive source for self-storage news, feature stories, videos and more.
Deason Financial Group LLC of Longview, Texas, recently recapitalized a mixed-use self-storage and retail property in Granbury, Texas.
April 27, 2009
1 Min Read
Deason Financial Group LLC of Longview, Texas, recently recapitalized a mixed-use self-storage and retail property in Granbury, Texas. Through debt financing provided by a correspondent lender in East Texas, more than $500,000 of liquidity was created for the property owner. The loan closed in March. The new five-year, fixed interest rate lowered the financing costs by more than 100 basis points.
The property consists of approximately 300 storage units and 12 retail frontage spaces. The original units were built in 1973 and developed in four stages, which resulted in an inconsistent look. A portion of the loan was re-invested into the property for renovations.
Related Articles:
Mixed-Use Development: The Next Frontier for Self-Storage
Mixed-Use Development : Opening doors for self-storage in cities ...
The Beauty of Mixed-Use Development : Could MUD be the missing ...
You May Also Like
Self-Storage TV
Apr 17 - May 17, 2024
Apr 17 - May 17, 2024
NEW PODCAST! In this latest episode of “Sounds of Storage,” we talk with StoragePug's Tommy Nguyen about grassroots marketing, including what it entails for self-storage operators, why it’s making a “comeback,” and how to do it effectively.
LISTEN NOW