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Equibase Receives $59M Loan for JV Purchase

CHICAGO-Equibase Capital Group LLC receives a $59-million loan for six self-storage properties purchased in a joint venture with Extra Space Storage.

By Gina Kenny | Updated on April 23, 2007

(Read more on the debt and equity markets.)

CHICAGO-Equibase Capital Group LLC, based here, has received $59 million in senior and mezzanine financing for six self-storage properties purchased recently in a joint venture with Extra Space Storage, based in Salt Lake City. The financing was provided by Bank of America and its wholly owned subsidiary, TriSail Capital Corp. The six class A properties total more than 500,000 sf and are located in Florida, Illinois, Massachusetts, New York and Rhode Island.

The financing is being used to retire construction loans for the individual properties, says John Didrickson, principal with Equibase. He would not disclose the terms of the financing.

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