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| Stephen Skok |
CHICAGO, IL – HFF announced today that it has secured $70
million (or $55 per rentable-square-foot) in financing for a 19-property self
storage portfolio totaling 1.26 million rentable square feet in various
locations in Illinois, Ohio, Florida, Nevada, Rhode Island and New York.
HFF
worked on behalf of Harrison Street Real Estate Capital to arrange the
two-year, non-recourse, floating-rate loan through a national bank.
The
11,238-unit portfolio includes assets in Illinois, Ohio, Florida, Nevada, Rhode
Island and New York. The assets are 83
percent leased and are managed by two of the industry’s most respected
operators, Morningstar and CubeSmart.
The
HFF team representing the borrower was led by managing directors Stephen
Skok and Timothy Joyce.
 |
| Timothy Joyce |
Harrison Street Real Estate Capital was founded in 2005 and
has approximately $5.5 billion in assets under management.
The firm currently
owns approximately $4.6 billion in real estate assets including more than
28,000 student housing beds, more than 7,500 senior housing/assisted living
units, more than 1.8 million square feet of medical office space, more than
72,000 self-storage units, and more than 4,100 dry and wet boat storage slips.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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