{"id":3880,"date":"2023-05-30T13:43:29","date_gmt":"2023-05-30T13:43:29","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=3880"},"modified":"2023-05-30T13:43:29","modified_gmt":"2023-05-30T13:43:29","slug":"byline-bank-lends-14-million-on-self-storage-build-in-paramount","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/byline-bank-lends-14-million-on-self-storage-build-in-paramount\/","title":{"rendered":"Byline Bank Lends $14 Million on Self Storage Build in Paramount"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<figure style=\"width: 650px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" src=\"https:\/\/www.connectcre.com\/wp-content\/uploads\/2023\/05\/CA-Go-Store-It-self-storage-Cumming-GA.jpg\" alt=\"\" width=\"650\" height=\"404\" \/><figcaption class=\"wp-caption-text\">A Go Store It facility in Cumming, GA<\/figcaption><\/figure><\/p>\n<blockquote><p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison Capital\u2019s self storage brand, Go Store It.&#8221;<\/span><\/span><\/span><\/p><\/blockquote>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Byline Bank\u2019s Commercial Real Estate team has provided a $13.67 million construction loan to Madison Capital Group, a Charlotte-based real estate developer with offices in Newport Beach. Madison Capital will use the funds to develop a new-construction self storage property, located at 15932 Minnesota Ave. in Paramount. <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison Capital\u2019s self storage brand, Go Store It. <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\">\u201c<span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Los Angeles has a vibrant self storage market,\u201d said John M. Barkidjija, EVP of Byline\u2019s Commercial Real Estate and Specialty Finance Group. \u201cVacancies remain low and rent growth continues to make this sector attractive.\u201d <\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Joanne Campanile, Sam Duros and Ana Garcia of Byline Bank managed the loan transaction on behalf of the borrower, working directly with Eric Lentz of Madison Capital Group Holdings. Talonvest\u2019s Eric Snyder, Kim Bishop and Ivan Viramontes brokered the deal.<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/www.connectcre.com\/stories\/byline-bank-lends-14m-on-self-storage-build-in-paramount\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Source<\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison Capital\u2019s self storage brand, Go Store It.&#8221; Byline Bank\u2019s Commercial Real Estate team has provided a $13.67 million construction loan to Madison Capital Group, a Charlotte-based real estate developer with offices in Newport Beach. Madison Capital will use the funds to develop a new-construction self storage property, located at 15932 Minnesota Ave. in Paramount. The infill project will total 845 units, including 841 temperature-controlled units. The property will be managed by Madison&hellip;<\/p>\n","protected":false},"author":13,"featured_media":3882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3880"}],"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=3880"}],"version-history":[{"count":2,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3880\/revisions"}],"predecessor-version":[{"id":3884,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3880\/revisions\/3884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/3882"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=3880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=3880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=3880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}