Safe N Lock Self Storage borrows $35M from Saperean Capital for new construction in Kensington

Safe N Lock Self Storage LLC through the entity SNL XXII, LLC (and others) as borrower signed a loan agreement with lender Kayne Anderson Real Estate Advisors’s Saperean Capital through the entity Saperean Capital III Originator, LLC valued at $35.4 million for 6 parcels, including the tax class office building with commercial with one to six stories (O5) at 1426 39th Street, 1428 39th Street, 1440 39th Street, 1446 39th Street, 1456 39th Street, and others in Kensington. The deal closed on December 17, 2019 and was recorded on December 31, 2019.

Kimco Realty borrowed $34 million from Saperean last fall.

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