Self Storage Portfolio
The transaction includes a $51,050,000 ($61.95/SF) non-recourse, first mortgage loan secured by a 15 property, self-storage portfolio, located throughout the US in six (6) states. The Portfolio includes 823,930NRSF of storage space across 6,162 units with an average unit size of 118 NRSF per unit. In addition to the storage space, the Portfolio includes 407 RV parking spaces and assets Duluth and Portland have in place billboard/sign leases. The proposed loan will be used to facilitate the acquisition of the property. The loan is structured with a 10-year interest only period.