Stamford, CT According to Colliers International, its Capital Markets team arranged the acquisition and construction financing for a self storage facility on behalf of Prospectus LLC. Located at 432 Fairfield Ave., the facility will contain 906 climate-controlled storage units and storage lockers. The Colliers team of Thomas Welch, Kevin Phelan and John Poole secured the $9.1 million construction to permanent loan with Brookline Bank. Prospectus has engaged CubeSmart, the third-party self-storage management company that currently manages 23 million s/f of storage space over 356 properties across the U.S, to manage the facility. Construction is scheduled to complete in the fourth quarter of this year. 

“We’ve been quite active in the self-storage development space this cycle and have been impressed with the performance of our clients’ assets,” said Welch. “Brookline Bank recognized the quality of the Boston-based sponsor, the project plans and the national facility operator in pursuing and providing great execution for this out-of-state construction loan.”

Colliers International Group Inc.  is an industry-leading global real estate services company with more than 15,400 skilled professionals operating in 69 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.