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Self Storage Loan - $1,770,000

  • Loan Amount: $1,770,000
  • Property Type: Self Storage
  • Originator: Shawn Harris
  • Interest Rate: 4.50%
  • Location: Palmdale, CA

In this transaction we were able to facilitate the refinance of the subject property into a much shorter term amortization and lower rate.  

LTV:      70%
Term:    15 Year Fixed Loan due in 15 Years
Rate:     4.50%
Prepay:  Modified Yield Maintenance

San Diego Commercial & Business Financing is proud to present the funding of our first self storage property located in the tertiary market of Palmdale, CA.  The subject property was substantially under occupied, with only 70% average occupancy.  We were able to provide our client below market rates on a true fixed rate loan amortized over 15 years. .  Property included approximately 40,000 square feet of high end medical office space plus additional parking structure.  The transaction was funded by Sr. Vice President Shawn Harris, assisted by BDO Gary Davis.

Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.

For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services.  By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.

Please see his LinkedIn profile HERE.

Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing.  He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.