1784 Capital Holdings LLC has landed $24.9 million in construction financing for the development of Annapolis Self Storage, a 751-unit facility in Annapolis, Md. Talonvest Capital arranged the loan, funded by ACRES Capital Corp. Managing Director James Bracco of the company’s Miami office originated the financing. The current deal completes a previous $3 million loan funded by Revere Capital Debt Funds and another $3.3 million loan provided by West Bay Capital. The development will span seven acres and will comprise a six-story Class A building and 71,360 net rentable square…
Category: Development News
StorQuest Expands Phoenix Self Storage Footprint
The William Warren Group has completed a new 52,332 square-foot self storage facility, under its StorQuest brand, in Phoenix. Farmers and Merchants Bank of Long Beach provided $3.9 million in construction financing in 2020. Completed in January of this year, the property encompasses eight single-story buildings, spread across 3.2 acres, offering climate-controlled units, ranging from 25 to 300 square feet. Most of the units also offer drive-up access. Other facilities include 24/7 storage access and a virtual rental center. Located at 3750 S. 51st Ave., the newly-developed asset is one…
Aries Capital Closes $19.875 Million Loan for Wine Self Storage Facility in Sonoma
Aries Capital is pleased to announce that the firm’s Director of Capital Markets, Brandon Perdeck, has arranged a $19.875 million, interest-only loan for a 54,000-square-foot, climate-controlled wine and self storage facility, Vineburg Wine and Self Storage, in Sonoma, California. “The borrower was seeking to refinance an existing construction loan, as well as to finance a second phase of the project,” said Perdeck. “Given the property’s broad wine storage offerings and current waitlists for storage unit availability locally, we were able to source a qualified lender through our network and arrange…
Stratford Considering Moratorium on Self Storage Buildings
When a new self storage facility opened near the Dock Shopping Center in 2020, the town government praising the development, stating it would bring revenue to the town. With two new self storage buildings in the planning stages, Economic and Community Development Director Mary Dean said it is becoming too much. Dean recently presented a moratorium proposal to the Economic Development Commission that would put a stop to additional self storage building developments in town. She said the town had become saturated with them and a pause would allow the town to…
Investor Plans Apartments with Self Storage at 200K NRSF Complex
Trojan Storage is planning to include 27 residential units in a 200,000-square-foot development anchored by a self storage facility at 13260 West Maclay Street in the San Fernando Valley district of Sylmar, according to a report from Urbanize, citing city planning documents. Plans call for the storage units to be surrounded by a mix of one-bedroom and two-bedroom apartments, all set to be market-rate. The complex will also include 78 parking spaces. Self storage would take up around 150,000 square feet of space at the new complex, which is set…
Maumee Passes Moratorium on New Storage Facilities
During a special meeting Thursday, Maumee City Council passed a temporary moratorium on mini-warehouse facilities in the city, halting the approval of any permits, plans and applications for new construction. Jerry Sawicki, co-owner of a property that was planned to be sold and developed for the expansion of a self storage business, said the passage of the moratorium was underhanded and nontransparent. “It’s unconscionable to spring this,” he said. “It’s wrong to deny us what is otherwise a permitted use under their own zoning code.” The property that Mr. Sawicki co-owns…
New Apple Self Storage Facility Now Open in Leamington
Apple Self Storage opens a new self storage facility in Leamington, Ontario. Apple Self Storage-Leamington is a newly built facility conveniently located in the Leamington Medical Village at 197 Talbot St. W., Unit 500, Leamington, ON. The brand new construction was purposefully built to provide residents in the area with a state-of-the-art self storage experience. This new Apple Self Storage location offers 40,000 square feet of indoor, ground-floor self storage space with unit sizes ranging from 5’x5′ to 10’ x 25’ and an indoor loading bay to keep you warm and your…
Bernardston Planning Board to Consider Proposed Construction of Ten Self Storage Buildings
The Planning Board will consider a Las Vegas-based company’s proposal to construct 10 self storage buildings on two Northfield Road lots during a public hearing on Thursday. The hearing will begin at 6 p.m. in Town Hall. Pending approval of a special permit from the Planning Board, Patriot Holdings LLC plans to build 10 metal self storage buildings at 107 and 111 Northfield Road (Route 10). According to Planning Board Chair Christina Slocum-Wysk, the lots are between the Dollar General store and The Heirloom Collective marijuana grow facility in the…
Talonvest Secures $11.1 Million Construction Loan for NY Development
Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, structured an $11,100,000 construction loan on behalf of GoodFriend Self-Storage and their institutional joint venture equity partner, whom Talonvest had previously sourced, to finance the development of a Class A, state-of-the-art self storage facility on a 2.21-acre site in Bedford Hills, NY. Upon completion, the architecturally attractive storage facility with 68,314 net rentable square feet in 691 units will appeal to today’s high-end consumer. The construction loan was funded by a national bank and features a…
SmartStop Self Storage REIT, Inc. Opens Newly Constructed Facility in the Greater Toronto Area
SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company, today announced the opening of a newly constructed self storage facility in Scarborough, Ontario, Canada in partnership with SmartCentres (TSX: SRU.UN). This is SmartStop’s 19th owned or managed location in the Greater Toronto Area (GTA), and 159th property in North America. The ground-up, five-story development is located at 799 Milner Avenue in the Scarborough community. This prime location provides visibility from Highway 401, North America’s busiest highway, as well as Morningside Avenue. This facility serves the communities of Morningside, Malvern, Dean…