Northmarq secures $160 million in permanent-fixed-rate financing for 11 self storage facilities

WASHINGTON, D.C. (October 4, 2022) – Jason M. Smith, managing director, Gary McGlynn, managing director and Kevin Gentzel, vice president of Northmarq's Washington, D.C. debt/equity team arranged $160 million in permanent fixed-rate financing for a portfolio of 11 self-storage facilities containing approximately 9,100 units on behalf of Security Public Storage. Northmarq arranged the financing for the borrower through its correspondent relationship with a life insurance company.

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