Citi Provides $615 Million Refinance Loan For StorageMart Self Storage In Brooklyn Manhattan And Queens

The transaction involved multiple self-storage properties located at 72 Caton Place, 507 Osborn Street, 155 King Street, 62-05 30th Avenue, 651 Utica Avenue, 2924 8th Avenue, 34-01 College Point Boulevard, 150 17th Street, 1690 East New York Avenue, 87-16 121st Street, 302 Dyckman Street, 262 Mott Street, 1 Remsen Avenue, and 31-08 Northern Boulevard across the Brooklyn, Manhattan, and Queens markets, amounting to a total square footage of 1,300,000. The refinancing loan secured for these properties totalled $615,000,000.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $615,000,000
• Lender: Citi
• Landlord: StorageMart
• Lender's Representative: Adam Licari, Rob Turner, Auston Ingram & Matthew Safford - Eastdil Secured
• Loan Type: Refinance

This deal was facilitated through the collaboration of key representatives from Eastdil Secured, namely Adam Licari, Rob Turner, Auston Ingram, and Matthew Safford, who played critical roles in the refinancing arrangement on behalf of Citi. The involvement of these professionals underscores the complexity and scale of financing associated with such self-storage assets in a competitive market.