Northmarq’s Houston office finalizes refinancing of Extra Space Storage in Hammonton, New Jersey

Extra Space Storage
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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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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