American Spectrum Successful in Refinancing Fort Worth Northwest Self-Storage Loan
American Spectrum Realty, Inc. (NYSE: AQQ) announced today that American Spectrum Realty Management, LLC was successful in refinancing the loan for Fort Worth Northwest Self-Storage.
Fort Worth Northwest is a 69,275 square foot, 563 unit facility, located on Ephraim Avenue and operates under ASRM's 1st American Storage brand. When ASRM began managing the property in January of 2010, occupancy was severely low and the loan was fast approaching maturity. ASRM was able to negotiate a one year extension with the lender in an attempt to refinance the loan.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.