JLL Arranges Financing for Self-Storage in Underserved NJ Submarket

JLL Arranges Financing for Self-Storage in Underserved NJ Submarket

JLL Capital Markets arranged construction financing for Extra Space Hillsborough, a 709-unit, 105,663-square-foot self-storage development to be built at 35 Bedle St. in Hillsborough, Somerset County, NJ. A JLL team of Michael Klein, Nazario Paragano and Michael Donohoe worked on behalf of the borrower, Shadowbrook Capital, to secure the five-year construction and bridge loan through Provident Bank. Terms were not disclosed. “Shadowbrook Capital…

JLL: Provident Bank closes construction, bridge loan to Hillsborough self-storage developer – Real Estate NJ

The planned Extra Space Hillsborough facility will span 105,663 square feet, bringing 709 climate-controlled units to a site at 35 Bedle St. in Hillsborough. — Rendering courtesy: JLL By Joshua Burd A developer has secured construction and bridge financing for a planned 709-unit self-storage facility in Somerset County, brokers with JLL announced Monday. According to a news release, Provident Bank provided the five-year loan to Shadowbrook Capit…