Business News • MarketWire • Extra Space Storage Inc. Finalizes $82.2 Million in CMBS Financing |
Extra Space Storage Inc. Finalizes $82.2 Million in CMBS Financing |
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Extra Space Storage Inc. Finalizes $82.2 Million in CMBS Financing
SALT LAKE CITY, UT--(Marketwire - January 18, 2011) - Extra Space Storage Inc. (NYSE: EXR) ("the Company") announced today that it has closed a CMBS loan for $82,185,000 with Bank of America/Merrill Lynch. The loan has a 10-year term with a fixed rate of 5.849% for the life of the loan and is secured by 16 self-storage properties. Proceeds of the loan will be used for general corporate purposes and to repay debt. Kent W. Christensen, the Company's Chief Financial Officer, noted: "Extra Space Storage is the first self-storage REIT to re-enter the CMBS market since the financial crisis. This loan further strengthens our balance sheet and gives us increased financial flexibility."
View More : http://www.marketwire.com/mw/release.do?id=1382015&sourceType=3
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