Northmarq’s Cincinnati office closes acquisition financing of $5.9 million for Affordable RV Storage in Erie, Colorado
CINCINNATI, OHIO (July 11, 2022) – Noah Juran, managing director, and Christina Grimme, vice president, arranged the $5,922,000 acquisition loan for Affordable RV Storage. The 971-space RV storage property is located at 1492 County Road 11 in Erie, Colorado within the Denver MSA.
The non-recourse loan was structured on an 8-year term with 3-years of interest-only which will provide the borrower time to complete their value creation plan within the first few years of ownership. Additional features on the loan included a flexible prepayment structure, future funding availability, and the lender held the interest rate during a rising rate environment.
Each space within the 30-acre property includes pull-through capabilities allowing for convenient parking on site. Affordable RV Storage is a family-owned business and has been serving customers in the greater Denver MSA for over two decades.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
