Prime Group Holdings is expected to receive a $505 million commercial mortgage loan for a 32-property self-storage portfolio and two mixed-use properties, located across 14 states and one U.S. territory, according to Fitch Ratings. The ownership will also receive a $70 million mezzanine loan in the same transaction. Citi Real Estate Funding Inc. and Goldman Sachs Bank USA will issue the five-year, fixed-rate note. The deal is scheduled to close next week, on Oct. 17. The loan will retire an existing $482.4 million debt, as well as pay closing costs…
Prime Group to Receive $505 Million Refinance for Self Storage Portfolio Across 14 States and one U.S. Territory
