Byline Bank Lends $14M on Self-Storage Build in Paramount – Robert Khodadadian
Byline Bank’s Commercial Real Estate team has provided a $13.67-million construction loan to Madison Capital Group, a Charlotte-based real estate developer with offices in Newport Beach. Madison Capital will use the funds to develop a new-construction self-storage property, located at 15932 Minnesota Ave. in Paramount.
The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison Capital’s self-storage brand, Go Store It.
“Los Angeles has a vibrant self-storage market,” said John M. Barkidjija, EVP of Byline’s Commercial Real Estate and Specialty Finance Group. “Vacancies remain low and rent growth continues to make this sector attractive.”
Joanne Campanile, Sam Duros and Ana Garcia of Byline Bank managed the loan transaction on behalf of the borrower, working directly with Eric Lentz of Madison Capital Group Holdings. Talonvest’s Eric Snyder, Kim Bishop and Ivan Viramontes brokered the deal.
Pictured: A Go Store It facility in Cumming, GA.
The post Byline Bank Lends $14M on Self-Storage Build in Paramount appeared first on Connect CRE.
Byline Bank’s Commercial Real Estate team has provided a $13.67-million construction loan to Madison Capital Group, a Charlotte-based real estate developer with offices in Newport Beach. Madison Capital will use the funds to develop a new-construction self-storage property, located at 15932 Minnesota Ave. in Paramount. The infill project will total 845 units, including 841 temperature-controlled …
The post Byline Bank Lends $14M on Self-Storage Build in Paramount appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate