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November 11, 2012

Monroe & Giordano Arrange Self Storage Portfolio Loans of $18,500,000

Monroe & Giordano, located in Tampa, Florida, the nation's oldest, independently owned and operated mortgage banking firm specializing in Manufactured Housing Community and Self Storage financing, recently arranged financing on a central Florida portfolio of Self Storage Facilities. The borrower received long term fixed rate financing in the total amount of $18,500,000.

Sleepy Hill Self Storage, located at 2350 Sleepy Hill Road in Lakeland, FL, received a loan of $4,282,100. The facility contains 124,280 SF and a total of 936 units of which 630 are climate controlled. Phase 1 was completed in 2000 and phase II was completed in 2004.

Ridgeview Self Storage and Plaza located at 45731 US Highway 27N (just north of I-4) in Davenport, FL, received a loan of $4,780,900. There are 50,090 SF of storage containing 441 units with 400 units that are climate controlled. The retail section contains 31,500 SF and is anchored by Beef O Brady's. Phase I was built in 2004 and Phase II in 2005.

Lake Dexter Self Storage, located at 3220 Cypress Gardens Rd in Winter Haven, FL, received a loan of $3,284,600. The facility contains 81,575 SF and a total of 665 units of which 202 are climate controlled. Phase 1 was completed in 1997 and phase II was completed in 1999.

Gibsonia Self Storage, located at 6350 US Hwy 98N in Lakeland, FL, received a loan of $2,965,200. The facility contains 72,935 SF and a total of 609 units of which 228 are climate controlled. The property was built in phases between 1995 and 2001.

Bayview Self Storage, located at 2609 Bayview St. in Sebring, FL, received a loan of $3,187,200. The facility contains 92,240 SF and a total of 705 units of which 355 are climate controlled. Phase 1 was completed in 2000 with an expansion in 2003.