Eyzenberg & Company arranged financing for the acquisition of a four-property IOS portfolio spanning Memphis, Tennessee and Greensboro, North Carolina, with additional equity support provided by pledging an existing Jacksonville, Florida asset. The crossed facility included a sizable funding component for an improvement plan across three properties to upgrade functionality and security for corporate storage users. The transaction was executed on an accelerated six-week timeline.
Challenges
The portfolio consisted of non-contiguous sites in multiple states, each with different improvement requirements and leasing strategies. The structure needed to recognize a cross-pledged Florida property as equity support while aligning debt proceeds with a staged capital improvement plan and upcoming lease-up. The compressed closing schedule required a lender comfortable with IOS assets, hybrid collateral, and multi-jurisdiction execution.
