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VAN NUYS, CALIF. — LaTerra Development has received an $18.2 million construction loan for the development of Raymer Self Storage, a fully entitled self-storage facility at 14876 Raymer St. in Van Nuys. JLL Capital Markets secured the two-year construction loan through Calmwater Capital LLC.
Slated for completion in 2025, the 65,220-square-foot Raymer Self Storage will replace an existing warehouse and industrial building on the 1.2-acre site. The new facility will house 1,017 units consisting of 705 mini-storage units and 312 locker units. Property amenities will include 24-hour surveillance, controlled access, climate-controlled units and rooftop solar panels. Public Storage will operate and manage the facility.