NEW YORK, NY--(Marketwired - Jun 30, 2016) - Certain wholly owned subsidiaries of Global Self Storage, Inc. (NASDAQ: SELF), a real estate investment trust (REIT) that owns and operates self storage facilities, entered into a loan agreement with Insurance Strategy Funding IV, LLC and Global Self Storage entered into a corresponding non-recourse guaranty.
Global Self Storage's wholly owned subsidiaries are borrowing a principal amount of $20 million at an interest rate of 4.192% per annum, due to mature on July 1, 2036, and secured by certain real estate assets owned by the subsidiaries.
J.P. Morgan Investment Management, Inc. acted as special purpose vehicle agent of the lender.
About Global Self Storage
Global Self Storage, Inc. is a self-administered and self-managed REIT focused on the ownership, operation, acquisition, development and redevelopment of self storage facilities in the United States. The Company's self storage facilities are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. It currently owns and operates, through its wholly owned subsidiaries, seven self storage properties located in New York, Pennsylvania, Illinois, Indiana, and South Carolina. For more information, go to http://ir.globalselfstorage.us/ or visit our self storage customer site at www.globalselfstorage.us.