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LADERA RANCH, CA-Strategic Storage Trust Inc. has been buying self-storage facilities on an all-cash basis in assembling a portfolio of properties around the country, but the locally based non-traded REIT has now placed nearly $33 million of low-interest, long-term debt on an 11-property self storage portfolio located in various locations throughout the US. The CBRE Capital Markets Denver and Houston offices arranged the $32.59 million in permanent financing on behalf of SSTI, with vice chairman Eric Tupler and senior production analyst Josh Simon in Denver, along with Bernard Branca in the Houston office, arranging the first mortgage financing.

The refinance included a nine-year term, 30-year amortization, and a fixed interest rate of 5.43% on $29.85 million and 5.31% on the remaining $2.73 million. The 11 self-storage facilities are located in Arizona, Florida, Georgia, Kentucky, Nevada, New Jersey, Pennsylvania, and Virginia for a total of 7,794 units and 797,507 square feet. The properties had a stabilized average occupancy of 80% at the time of funding.

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