|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|
- 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