$23,000,000 | Construction Loan | Apartments

Fantini & Gorga arranged a $17,250,000 refinancing package for a self-storage facility in Darien, CT. The loan was placed with a major New England-based banking institution on behalf of an experienced storage development and management partnership based in CT.

Darien is located on Connecticut’s “Gold Coast” about 37 miles northeast of NYC. Primarily a residential community, Darien requires high standards for any new commercial development.  The Borrowers purchased a 3.6 acre site abutting Route I-95 in 2016, and after extensive negotiations with the town, received approvals to construct the subject.

It is the only facility of its kind in Darien, and it offers almost 900 units and 83,595 square feet of rentable area on three levels. Renters can choose from direct and interior storage, as well as outside vehicle storage.