Modesto Self-Storage

NEWPORT BEACH, CA-Owners of two properties in California and one in Idaho have refinanced them with more than $14 million in loans arranged by the Newport Beach-based Alison Co. in three separate transactions. The loans included $3.2 million for a 649-unit Premier Self Storage Facility at the intersection of Sylvan Avenue and Oakdale Boulevard in Modesto, CA; $7 million for a 62,963-square-foot grocery-anchored retail building at the intersection of Waterman Road and Elk Grove Boulevard in Elk Grove, CA and $3.85 million for two apartment complexes totaling 130 units at East Warm Springs Avenue and South Broadway Avenue in Boise, ID.

The self-storage facility loan in Modesto paid off a maturing conduit loan and covered closing costs for the borrower, a private investor based in Northern California, according to Shaun Moothart of the Alison Co., who arranged the financing with one of Alison’s life company correspondents. Moothart tells GlobeSt.com that the fixed interest rate was locked at application.