Robb Capital Arranges $8.3 Million Financing for Mr. Stor-It Self Storage Portfolio
Date: On October 18th, 2013, Robb Capital proudly announced the successful arrangement of financing in the amount of $8,300,000 for the Mr. Stor-It Self Storage Portfolio, a strategic collection of three self-storage properties located in Cocoa, Merritt Island, and Palm Bay, Florida.
– Property Name: Mr. Stor-It Self Storage Portfolio
– Description: This is a trio of self-storage facilities, collectively forming a robust portfolio that caters to the storage needs of the community.
– Addresses: 500 Cone Road, Merritt Island, FL 32952 | 3332 Bayside Lakes Blvd, Palm Bay, FL 32909 | 500 N Cocoa Blvd, Cocoa, FL 32922
– Interest Rate: The financing package features a competitive fixed interest rate, holding steady at 5.40%, ensuring stability and predictability in the financial structure.
– Amortization: With a comfortable 30-year amortization schedule, this financing arrangement enhances the overall structure, providing flexibility and manageable repayment terms.
– Loan Amount: The financing secures a significant $8.3 million, supporting the acquisition and growth of the Mr. Stor-It Self Storage Portfolio.
– Term: This financing offers a 10-year term, with a non-recourse structure featuring standard carve-outs, aligning well with the borrower’s specific financial objectives.
– Type of Program: Structured as a Permanent loan, this financing provides long-term stability and a solid foundation for the portfolio’s continued growth and success.
Robb Capital is honored to have played a pivotal role in securing this $8.3 million financing for the Mr. Stor-It Self Storage Portfolio. This financing empowers the growth and development of these strategic self-storage properties in Cocoa, Merritt Island, and Palm Bay, Florida, contributing to their ongoing role in serving the storage needs of the community.