Prudential Mortgage Capital backs self-storage with $131m loan

Prudential Mortgage Capital Company has provided $131.7m in first mortgages to refinance a Lock Up/Evergreen Storage portfolio of 18 US properties. The financing is comprised of a $20m, seven-year, floating rate tranche, and a $111.7m, 10-year, fixed rate tranche. Prudential said that the post-recession shift in housing demand from owning to renting continues to drive its faith […]