REBusinessOnline

KeyBank Provides $18.8M CMBS Loan for Refinancing of Self-Storage Portfolio in Michigan

MICHIGAN — KeyBank Real Estate Capital has provided an $18.8 million CMBS loan for the refinancing of an eight-property self-storage portfolio in Michigan. Known as Berger U-Store Portfolio, the assets total 3,176 units and 431,755 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial arranged the 10-year loan, which will be used to refinance existing debt on seven of the properties and acquire the remaining property.

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