$15,100,000 | Post Management

Property: GoodFriend Self Storage
Location: Briarcliff Manor, NY
Description: 72,000 square foot gross self storage property located at 588 North State Street in Briarcliff Manor, NY. Built in 2001, this best in class self storage asset encompasses four buildings spanning 2.7 acres and is comprised of 51,000 rentable square feet in 555 units, 84% of which are climate controlled.
Loan Type: JV Equity
Lender: Global Asset Management Firm

Client Benefits:

  • New JV equity partner established a core-plus acquisition strategy for client
  • Pari passu equity structure
  • Modest required sponsor co-investment enabling more purchasing power for client
  • Longer term oriented investment to maximize cash yields