Investec Real Estate Cos. has secured a $53.5 million, five-year interest-only loan from New York Life Insurance Company to refinance a three-property self-storage portfolio in Highland, Goleta, and Murrieta, California. The portfolio totals 1,818 units and 243,496 net rentable square feet, with all three assets managed by Extra Space Storage. Talonvest Capital arranged the financing.
The deal is one of several large self-storage refinancings Talonvest has closed recently, with the firm reporting more than $424 million in financing transactions completed in the past 90 days.
Source: MHN (Multi-HousingNews)
