Union Labor Life Insurance Company Provides $69M Acquisition Loan For Self Storage Portfolio In Staten Island And New Jersey

An acquisition loan has been secured for the self-storage property located at 330 Tompkins Avenue, 290 Route 36 East, and 268 Cliffwood Avenue in Staten Island, NY, Cliffwood, and Long Branch, NJ. The property consists of 4,276 units with a total square footage of 317,689. The loan amount for this transaction is $69,000,000.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $69,000,000
• Address: 330 Tompkins Avenue, 290 Route 36 East, and 268 Cliffwood Avenue
• Market: Staten Island, NY, Cliffwood, and Long Branch, NJ
• Units: 4,276
• Square Footage: 317,689

The lender for this acquisition loan is Union Labor Life Insurance Company (ULLICO), represented by Herb Kolben and Kevin Smith. The landlord, StorageBlue, is represented by Alan Mruvka. The brokers involved in this transaction are Richard Horowitz and Justin Horowitz from Cooper Horowitz.