News: Rhode Island
Posted: October 10, 2007
CBRE|Melody arranges $1.7m financing for 379-unit self storage facility
CBRE | Melody arranged the $1.7 million acquisition financing for Cumberland Self Storage, a 379-unit facility located at 95 Industrial Rd.
Michael Prakken and Deborah Dalton of CBRE | Melody's Boston office secured the financing for Cumberland Self Storage, LLC, a venture of The Stubblebine Company and Summit Real Estate Strategies, LLC. The financing was arranged through TD Banknorth. The loan is a five-year, floating and fixed rate with three years interest only followed by a 25-year amortization.
"TD Banknorth provided financing that was very competitive and provided the sponsors with a structure that met their requirements," said Dalton.
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Quick Hits
Columns and Thought Leadership
Nine things left by the Navy that are key to success at Quonset today - by Steven King
The modern Quonset Business Park is Rhode Island’s leading engine of job creation and economic growth. The park hosts 239 companies and over 14,000 jobs. That success rests on the foundation of two neighboring, now-closed military bases built by the U.S. Navy
Rhode Island is on the move - and there’s no better example than Quonset - by gov. Dan McKee
This year has already brought significant economic progress in for the state of Rhode Island, and nowhere is this more noticeable than at the Quonset Business Park.
The City of Warwick is the perfect choice - by Frank Picozzi
The late summer sky was bright and the mood festive at the family-friendly “Best in Town” event at Rhode Island’s first Floor & Décor store. Those looking to make some home improvements strolled through the warehouse, admiring the well-stocked aisles, fair
Quonset is an essential piece of Rhode Island’s proposed Green Bond - by Steven J. King
While Quonset is known as the region’s leading engine for economic development and job growth, equally as important is its role in protecting and preserving the environment. Home to more than 800 acres of open space, an 18-hole public golf course, four public beaches
