Piermont bank's $6m financing kicks off storageblue's fifth location

Posted on August 12th, 2020

New York’s Piermont Bank Financed The $6M State Of The Art Storage Facility Renovation with the Project’s Long Term Success At The Heart of the Deal

New York, NY, and Garfield, N.J. – StorageBlue, New Jersey’s most consumer-centric and self-proclaimed lowest-priced self-storage brand continues their New Jersey expansion efforts with the grand opening of their Garfield location at 170 River Drive, Garfield, NJ 07026. The project. The $6M project was financed by New York’s Piermont Bank and the location is now officially celebrating its grand opening.

The deal, designed to ensure the long term success of the project, was spearheaded by Piermont Bank. Says Rob Rynarzewski, Head of Commercial Real Estate, Piermont Bank, “Piermont was able to work with Alan at StorageBlue to creatively structure an interest-only loan that would give him the time needed to lease-up his newest facility in Garfield. This is another example of how the Piermont team is able to think outside of the box for our clients. We also believe it is about building a long-term relationship that will support each other’s growth.”

Read More:PIERMONT BANK’S $6M FINANCING KICKS OFF STORAGEBLUE’S FIFTH LOCATION