1ST SERVICE SOLUTIONS ASSISTS IN PA. SELF-STORAGE BUY

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ALLENTOWN AND BETHLEHEM, PA. — 1st Service Solutions has arranged the assumption of a $6.7 million CMBS loan to assist in the purchase of a self-storage portfolio in Pennsylvania. The buyer, a regional self-storage provider, will assume a $3 million and $3.7 million conduit loan for the acquisition of properties in Allentown and Bethlehem, respectively. Sperry Van Ness' Nicholas Malagisi, along with Costas Hrousis and Shawn Donahue of Veraxia Commercial Real Estate Solutions (formerly of Sperry Van Ness), brokered the acquisition.

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