New Jersey-based Cronheim Mortgage has arranged a $7.8 million loan for the refinancing of a self storage and retail asset located in the Fort Worth area. The property, formerly a grocery-anchored retail center, consists of a CubeSmart-branded self storage facility with roughly 1,000 units and a 10,000-square-foot retail space occupied by Goodwill.
David Turley, Janet Proscia and David Poncia of Cronheim arranged the nonrecourse, fixed-rate loan on behalf of the borrower, an affiliate of California-based DealPoint Merrill. An undisclosed national bank provided the loan. The address of the property was not disclosed.
