Self-Storage Portfolio Gets $87M Refi
Funding totaling $87 million was recently secured on behalf of SROA Capital for the refinancing of a 36-property portfolio of self-storage facilities spanning three states: Florida, Kentucky and Ohio.
HOUSTON—Funding totaling $87 million was recently secured on behalf of SROA Capital for the refinancing of a 36-property portfolio of self-storage facilities. JLL’s Griffin Guthneck represented SROA Capital to arrange the five-year interest-only 3.21% fixed-rate senior lien from a syndication of multiple banks.
The portfolio, which is approximately 90% occupied, is geographically diverse and spans three states, with four properties in Florida, 13 in Kentucky and 19 in Ohio. The portfolio is owned in one of SROA Capital’s current real estate funds.