KeyBank Provides $221.5M Refinancing for SmartStop Self-Storage Portfolio Across 12 States

Pictured is a SmartStop facility in Chula Vista, Calif.

CLEVELAND — KeyBank Real Estate Capital has provided three loans for the refinancing of a SmartStop self-storage portfolio. Located in 12 states, the 39 facilities total 24,181 units. Randy Martin of Cleveland-based KeyBank originated a $90 million loan for 29 facilities in California, Colorado, Florida, Illinois, Indiana, Maryland, Nevada, North Carolina, Ohio and Texas. Concurrently, the sponsor received a $27.5 million mezzanine loan. Martin also originated a $104 million loan for 10 properties located in California, Florida, Massachusetts, Nevada and South Carolina.

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