Aztec Group Secures $8M Refi for Chantilly Self-Storage Facility
Miami, FL-based Aztec Group has secured $8 million in debt for the refinancing of ExtraSpace Chantilly Self Storage in Chantilly, VA. The property has 636 units across 71,000 square feet.
Charles Penan, Howard Taft, Jeff Levin and Joel Zusman of Aztec group arranged the Goldman Sachs-provided 10-year, interest-only loan, which will be used to refinance existing debt while providing a partial return of equity to the sponsor.
“Irrespective of the capital markets volatility, stabilized self-storage assets in desirable locations remain sought after real estate assets and receive the most favorable financing terms available in the marketplace,” said Penan.
Aztec Group closed $1.4 billion in transaction in 2021.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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