White Oak Real Estate Capital (WOREC), an affiliate of White Oak Global Advisors, has announced it has provided a $27.2 million senior secured loan to 1784 Holdings, a national self-storage developer and owner specializing in developing, constructing and operating institutional quality self-storage facilities. The financing will be used to support the development of an 87,488 net rentable square feet (NRSF) climate-controlled self-storage facility in Garden Grove, Calif.
Garden Grove is a dense Orange County community with an affluent population. Self-storage offerings are limited in the community due to high barriers to entry. The property, situated in a centralized location in Garden Grove, will offer state-of-the-art, 100 percent climate-controlled storage units to serve the unmet demand within the project’s primary trade area.
“Orange County’s density and demographics, with its large percentage of renters, makes for a compelling location to develop a premium
