{"id":2944,"date":"2023-01-08T15:17:19","date_gmt":"2023-01-08T15:17:19","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=2944"},"modified":"2023-01-08T15:17:19","modified_gmt":"2023-01-08T15:17:19","slug":"cronheim-mortgage-arranges-12-9-million-construction-loan-for-el-paso-self-storage-project","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/cronheim-mortgage-arranges-12-9-million-construction-loan-for-el-paso-self-storage-project\/","title":{"rendered":"Cronheim Mortgage Arranges $12.9 Million Construction Loan for El Paso Self Storage Project"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><\/p>\n<p lang=\"zxx\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><span style=\"color: #2d2d2d;\">New Jersey-based Cronheim Mortgage has arranged a $12.9 million construction loan for a self-storage project in El Paso.<\/span><\/span><\/span><\/p>\n<p lang=\"zxx\"><img loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/rebusinessonline.com\/wp-content\/uploads\/2023\/01\/Just-A-Closet-El-Paso.jpg\" alt=\"Just-A-Closet-El-Paso\" width=\"516\" height=\"387\" \/><\/p>\n<p lang=\"zxx\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><span style=\"color: #2d2d2d;\">The facility will span 151,000 net rentable square feet across approximately 1,200 units with both climate- and non-climate-controlled space. The borrower and developer, Verturo Interests, will operate the facility under its Just A Closet brand. David Poncia of Cronheim Mortgage originated the financing, which was structured with a fixed interest rate and a 75 percent loan-to-cost ratio, through a local bank. Completion is slate for the fourth quarter.<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/rebusinessonline.com\/cronheim-mortgage-arranges-12-9m-construction-loan-for-el-paso-self-storage-project\/\"><span style=\"color: #2d2d2d;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span lang=\"zxx\"><span style=\"font-size: medium;\">S<\/span><\/span><\/span><\/span><span style=\"color: #2d2d2d;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span lang=\"zxx\">ource<\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Jersey-based Cronheim Mortgage has arranged a $12.9 million construction loan for a self-storage project in El Paso. The facility will span 151,000 net rentable square feet across approximately 1,200 units with both climate- and non-climate-controlled space. The borrower and developer, Verturo Interests, will operate the facility under its Just A Closet brand. David Poncia of Cronheim Mortgage originated the financing, which was structured with a fixed interest rate and a 75 percent loan-to-cost ratio, through a local bank. Completion is slate for the fourth quarter. Source<\/p>\n","protected":false},"author":13,"featured_media":2945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/2944"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=2944"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/2944\/revisions"}],"predecessor-version":[{"id":2946,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/2944\/revisions\/2946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/2945"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=2944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=2944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=2944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}