White Oak Real Estate Capital (“WOREC”), an affiliate of White Oak Global Advisors (“White Oak”), provided a $27.2 million senior secured loan to 1784 Holdings LLC, 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, California.

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% 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 self-storage facility,” said Eric Tanjeloff, Managing Principal at WOREC. “We’re excited to partner once again with 1784 Holdings to deliver on the demand for storage within Garden Grove and the surrounding community.”

This financing is WOREC’s fourth self-storage development deal in Southern California with 1784 Holdings. 1784 Holdings partners with top operators, including Extra Space Storage.

“We greatly value and respect the certainty of closing and the thoughtful, solutions-oriented approach consistently provided by Eric Tanjeloff and the White Oak team,” said Shane Albers, CEO of 1784 Holdings.