JLL Arranges $53M Loan For Self Storage Portfolio In Long Island And Westchester

A self-storage portfolio comprising three properties located at 1760 Front Street, 280 Broadway, 1000 Axinn Avenue, and 50 Carnation Avenue has been involved in a closed transaction in Long Island and Westchester markets. The portfolio consists of a total of 3,836 units.

Summary of transaction details:

• Property Type: Self Storage Portfolio
• Transaction Amount: $53,000,000
• Market: Long Island, Westchester
• Lender: PGIM Real Estate
• Landlord: Harrison Street
• Brokers: Griffin Guthneck, Stephen Van Leer, Steve Mellon, and Brian Somoza of JLL
• Terms: Interest-only, three-year with two-one year extension options

The deal was facilitated by Griffin Guthneck, Stephen Van Leer, Steve Mellon, and Brian Somoza of JLL. The lender for this transaction was PGIM Real Estate, and the landlord involved was Harrison Street. The terms of the deal include an interest-only loan with a three-year term and two one-year extension options.