Silver Star Properties gets $120 million senior loan via Benefit Street

By Marisa Wong

Los Angeles, March 28 – Silver Star Properties REIT closed a $120 million floating-rate senior loan with Benefit Street Partners LLC, according to a press release.

Silver Star will use the loan to help liquidate its legacy real estate portfolio. Silver Star expects to sell all current assets within its portfolio and subsequently acquire self-storage properties and transition to a self-storage REIT.

Benefit Street’s loan has a two-year term with no extension options.

Raymond James Real Estate Investment Banking acted as exclusive financial advisor to Silver Star.

Silver Star is a Houston-based self-managed real estate investment trust that focuses on self-storage properties.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.