{"id":1004308586,"date":"2019-03-14T09:51:40","date_gmt":"2019-03-14T17:51:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004308586"},"modified":"2025-02-28T00:35:24","modified_gmt":"2025-02-28T08:35:24","slug":"hff-arranges-5-8m-financing-for-fl-storage","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-5-8m-financing-for-fl-storage\/","title":{"rendered":"HFF Arranges $5.8M Financing for FL Storage"},"content":{"rendered":"<div id=\"attachment_1004308589\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004308589\" data-attachment-id=\"1004308589\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-5-8m-financing-for-fl-storage\/cubesmart-self-storage-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"CubeSmart Self Storage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;CubeSmart Self Storage&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg?w=800\" class=\"wp-image-1004308589 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/CubeSmart-Self-Storage.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004308589\" class=\"wp-caption-text\">CubeSmart Self Storage<\/p><\/div>\n<p>HFF has arranged $5.8 million in financing for the acquisition and expansion of Princeton Self Storage, a 43,006-square-foot facility in Melbourne, Fla. The firm worked on behalf of the borrower, SecYour Storage Property Group, to secure the first mortgage financing. CubeSmart was appointed to manage the property.<\/p>\n<p>The facility occupies 4.2 acres at 1060 Polo Drive, just off Melbourne&#8217;s residential and retail corridor near Interstate 95 and Freeway 507. Additionally, the asset is around 70 miles from downtown Orlando. The asset is also close to residential areas; approximately 74,000 people live within a 3-mile radius.<\/p>\n<p>Built in 2005, the four-building property encompasses 289 units, ranging from 25 to 200 square feet. The storage facility is gated and features drive-up access, security cameras and climate-controlled spaces. The buyer plans to expand the facility with 349 climate-controlled units, which will bring the total number of storage spaces to 738.<\/p>\n<p><em>\u201cWe are very excited about the acquisition and repositioning of this property as we continue to execute on our business plan of acquiring value-add <a href=\"https:\/\/www.commercialsearch.com\/news\/is-self-storage-recession-resistant\/\">self storage facilities throughout the United States<\/a>,\u201d<\/em> said Chris Corr, managing principal &amp; CEO of SecYour Storage Property Group, in prepared remarks. <em>\u201cThis facility represents our third acquisition in Florida along with a very solid pipeline of opportunities to follow.\u201d<\/em><\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SecYour Storage Property Group received the loan for the acquisition and repositioning of a 289-unit asset located in Melbourne, Fla.<\/p>\n","protected":false},"author":871,"featured_media":1004308589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,1493],"tags":[35721,32792,44696],"class_list":["post-1004308586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-orlando","tag-cubesmart","tag-hff","tag-secyour-storage-property-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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