Northmarq’s Salt Lake City office completes $97 million refinance of Storage of America portfolio in the Midwest
SALT LAKE CITY, UTAH (October 27, 2021) – Larry Pinnock, senior vice president/senior director of Northmarq’s Salt Lake City debt/equity office, arranged the $97,000,000 refinance of six Storage of America properties throughout Indiana, Michigan, and Ohio. The transaction was structured on a 10-year term with 2-years interest-only. Northmarq arranged the permanent-fixed loan for Storage of America through a life company.
Storage of America facilities feature available dollies/carts, auto pay, climate controlled units, covered loading/unloading, drive through building access, outdoor parking, and resident manager.
Storage of America - Oak Harbor is located at 1825 Oak Harbor Road, in Freemont, Ohio. The single-story self-storage facility was built in 1993 and was recently renovated in 2020. The 98,295 sq. ft property is situated on an 18-acre lot.
Storage of America – Crawfordsville is located at 311 E South Boulevard in Crawfordsville, Indiana. Built in 2019, the class B single-story self-storage facility totals 45,950 sq. ft. on a 3-acre lot.
Storage of America – Gratiot Center is located at 5135 Gratiot Road in Saginaw, Michigan. The 66,788 sq. ft. property was built in 1967 and fully renovated in 2020.
Storage of America – Busha Highway is located at 1515 Busha Highway in Marysville, Michigan. The 2-story self-storage facility was built in 1960 and fully renovated in 2019. The property totals 16,246 sq. ft and is situated on a 7-acre lot.
Storage of America – Anderson Broadway K-Mart is located at 2828 North Broadway in Anderson, Indiana. Totaling 74,844 sq. ft., the single-story storage property was built in 1980 and renovated in 2019.
Storage of America – Dort Highway is located at 4000 South Dort Highway in Flint, Michigan. The 69,296 sq. ft. is situated on a 13-acre lot. The class A single-story storage facility was built in 1963 and renovated in 2019.
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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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
