Category: Finance News

Talonvest Secures $14.4M in Financings for Two Self-Storage Properties in Thousand Oaks and Torrance, CA

Talonvest Capital, Inc. is proud to announce two recent closings for SoCal Self Storage. The first was a $7,200,000 non-recourse permanent loan for a self-storage facility located at 2550 Willow Lane in Thousand Oaks, California. The property spans 54,937 NRSF and features a total of 525 units. The property benefits from its prime location along the 101 Freeway, which sees over 170,000 vehicles per day. Concurrently, Talonvest negotiated a second loan on behalf of SoCal Self Storage for a facility encompassing 42,979 NRSF spanning 499 units and located in the…

Madison Capital Markets Group Closes $21 Million Texas Self-Storage Investment Fund

Madison Capital Markets Group, a real estate investment and development firm that operates the Go Store It Self Storage brand, has closed its $21 million Delaware Statutory Trust focused on self-storage assets in Texas. The fund is anchored by a portfolio of three facilities in Whitney, according to a press release. The properties at 401 N. Brazos St., 101 E. Adams Ave. and 700 FM 2604 total 246,775 rentable square feet in 1,484 storage units. They’re one hour south of the Dallas-Fort Worth Metropolitan Area, near Lake Whitney, the release…

Newmark Arranges Recapitalization of 14-Property Dallas-Fort Worth Self-Storage Portfolio for Hines and CubeSmart

Newmark announces the firm has brokered a recapitalization and new joint venture between Hines and CubeSmart for a 14-property self-storage portfolio located across the Dallas-Fort Worth Metroplex. Newmark Vice Chairman and leader of the firm’s National Self Storage Capital Markets practice, Aaron Swerdlin, along with Executive Managing Director Andrew Warin and team, advised Hines on the recapitalization. “As one of the largest national self-storage portfolio transactions of 2024, this transaction was a testament to the strength of the Dallas-Fort Worth market and further validation of the durability and appeal for…

Cohen Investment Group Lands Refinance for Virginia Self Storage in Virginia Beach, VA

Cohen Investment Group has secured a $51.5 million refinancing loan for Castleton Commerce Center, a 470,618-net-rentable-square-foot flex storage complex in Virginia Beach, Virginia. Eastern Union’s Mid-Atlantic Group Senior Managing Director David Merkin arranged the fixed-rate refinancing loan through Bank of America, on behalf of the borrower. Merkin was the one to secure bridge financing for CIG when the company acquired the facility in 2021. CIG purchased the property from Prime Group Holdings for $58.8 million, with the help of a $58.2 million loan originated through the Chicago office of Prime…

Andover Lending Provides $21 Million Construction Loan for Texas Self Storage Project

Andover Lending, a platform that seeks to originate non-recourse financing for self-storage sponsors nationally, today announced that it has provided a $21 million construction loan to a joint venture between LaTerra Development and Platinum Storage. The loan will fund the redevelopment of a former retail location in Irving, Texas, into a Class-A self-storage facility. Located at 2488 Market Place Blvd. – a prime location immediately adjacent to a Home Depot and a to-be-developed H-E-B supermarket – the 195,000-square-foot, multi-story facility will feature climate-controlled units along with drive-up and enclosed RV…

Eight Self-Storage Properties Trade to New Owner in Memphis MSA, TN

JLL Capital Markets led the sales efforts on behalf of Gelt Venture Partners for the portfolio, which totals more than 3,500 storage units JLL Capital Markets announced today that it has completed the sale of an eight-property self-storage portfolio, totaling more than 3,500 storage units and 485,000 rentable square feet, and is located in the greater Memphis, Tennessee area. JLL’s Self Storage Capital Markets team represented the seller, Gelt Ventures, in the sale of the portfolio to Mini Mall Storage Properties. The portfolio consists of over 485,000 square feet of institutional-quality…

Cushman & Wakefield Advises Bank of America in Sale of Iconic SF Office Tower, to U-Haul International, in Midtown Phoenix, AZ

Historic transaction marks one of largest owner/occupier office sales in U.S. and largest in Southwest since early pandemic. Arizona’s third largest office building sells for $23.7 million following foreclosure Cushman & Wakefield announced the firm has advised an entity controlled by Bank of America in the sale of 20 East Thomas Road, an iconic 25-story office tower totaling 548,938 square feet in Phoenix’s Midtown submarket. The third largest office building in the state of Arizona and third largest in the Phoenix market sold for $23.7 million to U-Haul International, a…

JLL Capital Markets Closed on a Refinancing Package for Self-Storage Portfolio in New York and New Jersey

JLL Capital Markets closed on a $115-million refinancing package for a portfolio of nine Tri-State self-storage facilities owned and operated by Storage Post. Nuveen Real Estate provided the first mortgage financing. Ownership has grown the original 633,364-square-foot portfolio, located in prime regions of New York and New Jersey, to 723,664 rentable square feet across 9,578 units. The New York assets are located in the Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights. The New Jersey assets are located in Haledon, Elizabeth, Linden and Perth Amboy. The JLL Capital…

1784 Capital Secures Bridge Loan for SoCal Self Storage in San Gabriel, CA

1784 Capital Holdings has secured a $41.3 million bridge loan for a Class A self-storage project in San Gabriel, Calif. Talonvest Capital Inc. arranged the note provided by a REIT. The bridge loan has a three-year term with two extension options, as well as interest-only payments throughout its duration. Because the self-storage development broke ground in 2022 and is still under construction, the funds from the loan will be used to repay the current construction debt and cover all costs associated with the loan. The development previously became subject to…

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…