debt
confidence high
sentiment neutral
materiality 0.60
SST VI extends $107.6M Huntington credit facility to 2027, fixes interest rate swap at 2.89%
Strategic Storage Trust VI, Inc.
- Maturity extended two years to Nov 30, 2027; principal balance unchanged at $107.6M.
- Interest rate swap fixed at 2.89% SOFR via Nov 2027, all-in rate 5.50%.
- Recourse guaranty increased from 25% to 50%; new borrower added (8570 S Durango Dr LLC).
- Huntington bought Flagstar's 40% share, now sole lender; no prepayment premium.
- Modification fee $322,722; interest rate changed to Term SOFR + 2.61%.