Affinius Capital LLC has closed a $120 million loan to refinance Prime NYC Self-Storage Portfolio, which encompasses 7,230 units across three Class A properties in Brooklyn, the Bronx and Queens, N.Y. Affinius made the loan to Prime Group Holdings alongside a junior mezzanine loan from 3650 Capital.
“This self-storage portfolio refinancing expands our presence in a growing asset class and further diversifies our loan portfolio,” said Affinius Capital Senior Vice President Tyler Figley. “Moreover, we were drawn to the opportunity to establish a new partnership with Prime, an experienced team with an impressive track record in this space.”
The portfolio’s units, which are 100% climate-controlled, come in a variety of sizes to accommodate a wide range of tenant needs. Each property features on-site management, controlled-gate access, drive-up accessibility, a leasing office, 24/7 digital surveillance, courtesy cart, and elevator access.
The financing was arranged by Drew Anderman of CBRE.
