Location: Otay Mesa, San Diego, California
Lender type: Bank
Property type: Warehouse
Transaction type: Construction
Loan amount: $19,945,000

John Richert and Jay Richert arranged a single close construction/permanent loan of $19,945,000 for a to-be-built 118,000 SF warehouse in Otey Mesa, San Diego, California just north of the Mexican border. The 8.5-year term loan was funded by a National Bank with a fixed rate of 6.06%,25-year amortization, and 18 months of interest only. The property was 50% pre-leased to Denver based Johnson Storage and Moving.

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