Storage Deluxe secured $36.5 million in refinancing for four of its self-storage properties in Queens and Bronx, N.Y. The refinancing is a 10-year, fixed-rate loan through a national bank.
The portfolio consists of 257,884 net rentable square feet of self-storage space thats approximately 90 percent occupied. Two properties in the portfolio are in Long Island City, Queens, and the other two are in Crotona Park East, Bronx.
The New York and Pittsburgh offices of HFF (Holliday Fenoglio Fowler, L.P.) arranged the refinancing. HFF director Steven Klein, managing director Claudia Steeb and executive managing director and managing member John Pelusi, Jr. worked exclusively on behalf of Storage Deluxe, a real estate company specializing in the acquisition, development and management of self-storage properties. The company owns, has interests in, and manages 29 facilities containing over three million square feet of storage space.
HFF operates out of 17 offices nationwide and is a provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.