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Posted: June 5, 2009
Gorsky negotiates $5m for refinance of an 832-unit storage facility in N.J.
Meridian Capital Group recently arranged $5 million for the refinance of The Storage Bin. The property contains a total of 832 storage units and is located on 2464 Rte. 9 South. Josh Gorsky of Meridian's N.J. office negotiated on behalf of the borrower to secure a five-year fixed-term at a rate of 6.25%.
This property was the borrower's first self-storage purchase 15 years ago. This facility underwent a phase II expansion five years ago. Phase II incorporated a climate controlled portion, and nearly doubled the amount of original units.
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