Principal David Fryer arranged the five-year loan that is secured by eight self-storage locations in Dallas, totaling 506,423 square feet. According to the firm, the borrower acquired the properties from 2003 to 2006, but it declined to give any further details about the properties.
The loan, which was provided by a regional bank, has a 30-year amortization period with a five-year extension option. According to a statement from G.S. Wilcox for GlobeSt.com, "the financing was arranged in March, one of the hardest periods in the past several years for a lender to commit to a deal and deliver on the same terms, which this lender did."
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