Sunday, October 24, 2010
HFF arranges $36.5 million refinancing for four self storage properties in Queens and Bronx, New York
NEW YORK, NY – The New York and Pittsburgh offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged a $36.5 million refinancing for four self storage properties totaling 4,981 units in Queens and the Bronx, New York.
HFF director Steven Klein (middle right photo), managing director Claudia Steeb and executive managing director and managing member John Pelusi, Jr (lower left photo). worked exclusively on behalf of the borrower, Storage Deluxe, to secure the 10-year, fixed-rate loan through a national bank.
The portfolio consists of 257,884 net rentable square feet of self storage space that is approximately 90% occupied.
Two properties in the portfolio are located in Long Island City, Queens (39-25 21st Street and 38-01 47th Avenue) and two properties are located in Crotona Park East, Bronx (1810 Southern Boulevard and 1816 Boston Road).
“Each property is located within highly dense urban infill residential areas with limited supply of self storage properties,” said Klein.
Storage Deluxe is a real estate company specializing in the acquisition, development and management of self-storage properties.
The company owns, has interests in, and manages twenty-nine facilities containing over three million square feet of storage space. http://www.storagedeluxe.com/
Steven J. Klein, HFF Director, (212) 245-2425, firstname.lastname@example.org
Kristen M. Murphy HFF Associate Director, Marketing, 713) 852-3500 email@example.com