Northmarq’s Houston office finalizes refinancing of Extra Space Storage in Hammonton, New Jersey
HOUSTON, TEXAS (May 12, 2021) – Larry Peters, senior vice president of Northmarq’s Houston office, secured the refinancing of Extra Space Storage. The 450-unit self-storage property is located in Hammonton, New Jersey. The transaction was structured with a fully-amortizing 15-year term. Northmarq arranged financing for the borrower through its relationship with a commercial bank.
“Several of our lenders were looking to make more self-storage loans and quoted this long term fixed rate loan aggressively," said Peters.
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