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KeyBank Provides $20.2M CMBS Loan for Self Storage Portfolio in New York

Posted: 8/22/2018 Link: REBusinessOnline.com
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KeyBank has provided a $20.2 million CMBS loan for the Westchester Self Storage Portfolio, a two-facility portfolio in Westchester County. The two properties, known as Yorktown Self Storage and Bedford Self Storage, consist of 1,235 units and total 114,216 square feet. Each property includes gated entrances, security cameras and climate-controlled units. Jacob Proctor of KeyBank arranged the non-recourse, fixed-rate financing with a 10-year interest-only period for an undisclosed borrower. The loan was used to refinance existing debt.

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