Virginia and New Jersey Self Storage Portfolio

Saturn Business Park
September 20, 2019
Southern California Self Storage Portfolio
September 20, 2019

Fixed Rate, Non-recourse CMBS Loans: $14,525,000

Knightsbridge arranged fixed rate debt financing for four separate self storage properties located in Virginia and New Jersey. The facilities have a total of 1900 units and 225,400 square feet.

Knightsbridge overcame the following challenges
  • Historical occupancy had been low and market fundamentals had just begun to improve in the respective markets.
  • Current income needed to be underwritten more aggressively than the general lending market would provide.
  • Negotiated below market transaction costs saving the borrower substantial “up-front” dollars.