Day: November 5, 2024

Newmark Secures $315 Million Loan for Self-Storage Assets Across 24 Markets in 11 US States

Newmark Group (NASDAQ:NMRK), Inc. has facilitated a $315 million refinancing deal for a national portfolio of self-storage facilities, representing a significant transaction within the alternative real estate sector. The loan was arranged by Newmark’s top executives for TPG Angelo Gordon, in partnership with Andover Properties, and was provided by a consortium of lenders including Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS), and 3650 REIT. The refinanced portfolio comprises 43 properties with over 21,300 units, totaling 3.1 million rentable square feet and operating under the Storage King USA brand. These facilities are…

This Closed Tillinghast Gem Will be Replaced by a Self-Storage Facility and a CarMax in New Jersey

CarMax and self-storage facility CubeSmart on Route 36, along with 145 age-restricted single-family homes off Monmouth Road, will replace the links at the Old Orchard Country Club. At an upcoming meeting, the borough Planning Board is set to finalize its approval of a proposal by Surrey Equities LLC to redevelop the 18-hole golf course, a 136-acre plot that was designed by famed architect A.W. Tillinghast and opened in 1929. The project culminates years of efforts to build on the property. More than 15 years ago, a proposal to build 700…

Talonvest Capital Negotiates $18 Million Full Capital Stack for a Self-Storage Development in Nashville, TN

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with its client Wedgewood Avenue are pleased to announce the successful closing of a joint venture equity investment along with construction financing for a best-in-class, institutional quality self-storage development located at 304 Oldham Street in Nashville, TN. Upon completion, the class A development will include 90,032 NRSF within a 3-story facility benefiting from exceptional visibility from major roadways, which average 250,000 vehicles per day, including Interstate-24, Ellington Parkway, and Spring Street. Beau Fowler, Managing Principal at Wedgewood…

Self-Storage Facility Opens with Professional Management in Easley, SC

Local owners of Boxville Storage proudly announce the opening of the self-storage facility at 4510 Calhoun Memorial Highway Easley, SC 29640. This facility, being managed by Absolute Storage Management (Absolute), features 662 units totaling 68,960 rentable square feet. It offers safe and secure non-climate unit options to the local communities of Dacusville, Cedar Rock and Easley. BVS Easley SC, LLC has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services, and the facility is officially under Absolute’s management as of October 28, 2024. Residents and businesses in…

U-Haul Opened its Newest Self-Storage Facility in Hershey, PA

U-Haul® is pleased to announce the opening of Pennsylvania’s newest self-storage center in Hershey after acquiring the property in early 2022. U-Haul Moving & Storage of Hershey at 1000 Old W. Chocolate Ave. opened on Oct. 28. Located off Highway 422, it is about a 20-minute drive from Harrisburg. It is the Company’s first owned-and-operated store in Hershey. The property was previously home to a small business that served as a U-Haul dealer location. The 1.79-acre lot is now home to a state-of-the-art, four-story facility with 1,000 climate-controlled storage units…

JLL Capital Markets Led the Sales Effort for the Self-Storage Portfolio in Philadelphia and West Florida

JLL Capital Markets announced today that it has completed the sale of a six-property self-storage portfolio totalling 468,266 rentable square feet in the Philadelphia MSA and the Tampa, Sarasota and Fort Myers areas of West Florida. JLL’s National Self-Storage team represented the seller, a partnership between Metro Self Storage and Heitman, and procured the buyer, Andover Properties. The properties were operated and managed under the Metro Self Storage brand at the time of sale and will be rebranded to Andover’s Storage King USA brand. The portfolio consists of three properties…