REBusinessOnline

JLL Arranges $31.5M Loan for Refinancing of Self-Storage Facility in Belleville, New Jersey

BELLEVILLE, N.J. — JLL has arranged a $31.5 million loan for the refinancing of Storage Rentals of America, a self-storage facility located in Belleville, located due north of Newark. The facility, which was approximately 85 percent occupied at the time of sale, comprises 2,064 units totaling approximately 400,000 gross square feet. The property also houses 83,464 square feet of light industrial space. Griffin Guthneck and Wes Wallace of JLL arranged the nonrecourse loan, which includes a seven-year term and a fixed interest rate, through an undisclosed life insurance company. The borrower is Florida-based SROA Capital.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties