Borrower Constructs Self-Storage Facility

FSPM assisted its client in the documenting and closing of a $21.7 million limited recourse construction-to-permanent loan for a multi-building, climate-controlled, flagged Class-A self-storage facility. The transaction was uniquely challenging due to the fact that construction was already in progress before the loan closed, and all the parties involved were working from home because of COVID-19 stay-at-home orders.