LOS ANGELES — Byline Bank’s commercial real estate team has provided a $13.6 million construction loan to Madison Capital Group for a new self-storage property in the Los Angeles submarket of Paramount.
The infill project will total 845 units, including 841 temperature-controlled units and four non-temperature-controlled units. Madison Capital Partners’ self-storage brand Go Store It will manage the property. Madison will demolish an existing and obsolete industrial property on the site to make way for the self-storage facility.
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. The Talonvest Capital Team of Eric Snyder, Kim Bishop and Ivan Viramontes brokered the deal.