NEWARKNJ−Prudential Mortgage Capital has financed the LockUp/EvergreenStorage portfolio of 18self-storage properties located around the country with $131.7million in first-mortgage loans.
The lender is the commercial mortgage business ofPrudential Financial, which is based here. Thetransaction was orchestrated by executives in the San Franciscooffice.
The self-storage properties are located in Chicago, Minneapolis,Florida, Hawaii and Massachusetts, as well as in New Jersey. Theyinclude 13,422 units with a total of 1.15 million rentable squarefeet. Most of the facilities are Class A modern buildings situatedin populous, affluent urban locations.
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