Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $19.4 million in financing for the acquisition of a 54,000 square-foot self-storage property located at 11999 Highway 267 in Truckee, California.
Joel Westle, managing director in MMCC’s San Francisco office, arranged the financing on behalf of Airport Self Storage.
“This is a strategic long-term acquisition for our client, breaking into a strong rental market,” said Westle. “We are pleased to have secured a 10-year loan that provides full-term interest-only payments, allowing our client to focus on delivering value and implementing their business plan without immediate capital constraints.”
The property, strategically located near the Truckee Tahoe Airport, will serve as a key asset in meeting the storage needs of the community, with offerings such vehicle storage, and enhanced security features.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion. To learn more, please visit: marcusmillichap.com/financing.
