Magellan secures $14.4 million construction loan for Azusa project

Talonvest Capital represented Magellan Value Partners in structuring a $14.40 million self storage construction loan for the development of a 106,582 sq. ft., Class A, state-of-the-art facility in Azusa.

MVP purchased the site in 2019 and completed an entitlement process to obtain permitting for storage use. The three-story plus basement facility will include climate and non-climate-controlled options in the 1,150 units.

The developers assert that the project is positioned for great success based on its prominent location on a major arterial road near the heavily trafficked I-210, a major east-west Los Angeles freeway, excellent access via a signalized intersection, and high visibility.