HFF Secures $5.1M in Refinancing for Newark Self-Storage Facility
|Copyright 2014 by Virgo Publishing.|
|Posted on: 03/22/2010|
The New Jersey office of HFF (Holliday Fenoglio Fowler L.P.) secured a $5.1 million refinancing for a 63,813-square-foot self-storage facility in Newark, N.J.
Jon Mikula, senior managing director, and Michael Klein, associate director, worked exclusively on behalf of the borrower, The Hampshire Cos., to secure the three-year, fixed-rate loan through TD Bank.
Completed in 2007, the property has 816 climate-controlled units and a 500-square-foot office and sales center. Hampshire Self Storage operates the facility, which is currently 84 percent occupied. The property is on nearly one acre close to Interstate 78.
The Hampshire Cos. is a full-service, private real estate firm based in Morristown, N.J.
With 17 offices nationwide, HFF offers a capital-markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing.