JLL’s Capital Markets experts announced today the firm has secured $87 million for refinancing of a 36-property portfolio of self-storage facilities on behalf of SROA Capital.
JLL’s Griffin Guthneck represented SROA Capital and arranged the five-year interest only 3.21 percent fixed-rate senior lien from a syndication of multiple banks.
The portfolio, which is approximately 90 percent occupied, is geographically diverse and spans three states, with four properties in Florida, 13 in Kentucky, and 19 in Ohio.
The portfolio is owned in one of SROA Capital’s current real estate funds. Its CEO, Benjamin Shibe Macfarland III entered the self-storage business in 2006 and formed SROA capital in partnership with Sidney Kohl in 2013. SROA Capital has expanded its portfolio to include 133 properties totaling approximately 6,600,000 square feet across Delaware, Florida, Georgia, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and New Jersey. Learn more at www.SROAcapital.com. SROA Capital looks to launch SROA Capital Fund VIII, LP by the 1st Quarter of 2020.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
