Extra Space Warner Robins
StackSource successfully sourced $6,154,658 in construction financing for an Extra Space Storage facility located in Warner Robins, GA, home of Robins Air Force Base, which employees over 24,000 defense personnel. The project consists of approximately 75,000 net rentable square feet and 750 units of climate-controlled storage space. This is the second Extra Space development for this Georgia based CRE holding company. Capital Advisors, Andrew Bouton and Beth Mercante, worked with a regional bank to secure a 75% LTC construction loan with a 3.69% fixed rate for 5 years based on a 25-year amortization schedule. The first 42 months of the 5-year term are interest only, which allows time for development and lease up.