REBusinessOnline

BEACON REALTY CAPITAL CLOSES $13.5 MILLION REFINANCING TRANSACTION

JOLIET, MOLINE AND PEORIA, ILL. — Beacon Realty Capital has closed a $13.5 million refinancing transaction for nine Murphy’s U-Store-It self-storage properties located in Joliet, Moline and Peoria. Beacon completed the financing through an undisclosed bank. The transaction features a $12.5 million fixed-rate loan, with a 25-year amortization schedule. Additionally, financing includes a $1 million variable rate component, which will be funded subsequent to the closing. Peoria-based U-Store-It will now be able to use the portfolio’s real estate equity for property expansions and facility improvements.

Content Partners
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