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177-Unit Storage Facility Gets $1M Loan

HOUSTON-A local private investor lands a five-year loan with a 5.76% fixed-rate interest for the fully leased West Little York Mini Storage. The LaSalle Bank-funded deal, with a 68% LTV, amortizes over a 25-year period.

By Jennifer Brenner Andrade | Updated on May 24, 2004

HOUSTON-The owner of the 177-unit West Little York Mini Storage facility in northwest Houston has cleared the way for a $1-million refinancing through LaSalle Bank of Chicago.

The 8150 W. Little York Rd. property was developed in stages between 1995 and 1998. Owned by a private investor from Houston, the fully leased asset consists of mini storage units and open spaces for boat and RV storage with about 70,000 sf of surface parking.

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