RI storage facility lands financing

The Boston office of CBRE|Melody said today that it has arranged $1.7 million in acquisition financing for the owners of a 379-unit self-storage facility in Cumberland, R.I.

The financing, provided by TD Banknorth Inc., a Maine-based subsidiary of the Toronto-Dominion Bank, was obtained on behalf of Cumberland Self Storage LLC, a venture of the Stubblebine Company of Lexington and Summit Real Estate Strategies LLC.

CBRE|Melody is the debt and equity placement division of CB Richard Ellis Group Inc., a commercial real estate services firm headquartered in Los Angeles.
(By Chris Reidy, Globe staff)