Strategic Storage Trust IV expanded its term loan with TCF National Bank by $9.2 million for an aggregate loan commitment of approximately $41 million.
“The expansion of our existing loan allows us to continue pairing attractive financing with our growing portfolio of high-quality self storage assets,” H. Michael Schwartz, CEO of Strategic Storage Trust IV, said. “This transaction also allows us to expand our relationship with TCF National Bank, who continues to serve as a valued source of financing and has played a key role supporting the growth of [our] portfolio.”
Pursuant to the loan amendment, the Punta Gorda, FL-based 800-unit self storage facility that Strategic Storage acquired in June was added as collateral to the loan agreement.
Strategic Storage Trust IV is a public non-traded REIT that focuses on the acquisition of stabilized and growth self storage properties.
