$13,400,000 | Post Management

Property: GoodFriend Self Storage
Location: North Bergen, NJ
Description: Newly constructed, state-of-the-art storage facility located at 4301 Tonnelle Avenue in North Bergen, NJ comprised of 1,478 climate controlled self storage units and 89,800 rentable square feet.
Loan Type: Refinance Loan
Lender: Global Investment Bank’s CMBS lending division

Client Benefits:

  • Initial underwriting was forward looking to maximize leverage
  • 10 year, fixed rate loan to reflect ownership’s long term orientation to enhance yield
  • IO payments for the first 24 months