Category: Finance News

Talonvest Secures $17.8 Million in Financing for a Four-Property Self-Storage Portfolio Across Southern California and Arizona

Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of a $17,800,000 refinance loan on behalf of Tierra Corporation for a four-property self-storage portfolio located across high-demand markets in Southern California and Arizona. The portfolio includes properties in Riverside, Redlands, and Indio, California, as well as Yuma, Arizona. In total, the facilities span 377,939 net rentable square feet and comprise 2,252 non-climate-controlled drive-up units, 25 climate-controlled units, 4 manager units, and 198 RV parking spaces. The non-recourse, CMBS execution loan was…

Gantry Arranges Financing for Self-Storage Properties in Bay Area and Santa Barbara, CA

Gantry has secured a total of $31.76 million of permanent loans to refinance three separately owned California self-storage facilities since the start of 2025, including two Bay Area properties. The most recent loan provided $9.76 million in May to refinance an 829-unit facility managed by ExtraSpace located at 224 N A St in Lompoc, a Central Coast community in Santa Barbara County. The second loan provided $10 million in April to refinance the 654-unit StoreLocal Oakley facility located at 4700 Main St. in Oakley, an eastern Bay Area suburb in…

Talonvest Negotiates $66.1 Million of Construction Loans for Self Storage Facilities in Hollywood, CA and Bordentown, NJ

Talonvest Capital, Inc., a boutique mortgage brokerage firm, is pleased to announce $66,100,000 of construction loan closings for its long-time client, 1784 Holdings, LLC. The first transaction was a $46,700,000 construction loan for the development of a state-of-the-art self storage facility located on a prime thoroughfare in North Hollywood, CA. The property will have almost 98,000 net rentable square feet across 1,144 climate-controlled units. The second financing was a $19,400,000 construction loan for a premier self-storage development in Bordentown, NJ. Situated on 5.4 acres, the project will offer over 77,000…

North Palisade Partners Lands $55 Million for Self-Storage Facility in Los Angeles, CA

North Palisade Partners has obtained $55 million for the refinancing of its 3,039-unit self storage facility at 1920 Randolph St. in Los Angeles. By issuing the five-year bridge loan, Goldman Sachs Alternatives originated one of the largest financing packages for a single-asset self-storage property in Southern California. CBRE arranged the transaction. Proceeds retire existing debt. In 2022, Buchanan Street Partners provided two separate construction loans for North Palisade’s facility totaling $55.2 million, according to Yardi Matrix information. Completed in the first quarter of this year, the three-story, 214,000-net-rentable square-foot facility…

Rosewood Lands $125 Million Refinance for Storage Portfolio Across Five States in the US

Dallas-based Rosewood Property Co. has secured a $125 million refinancing loan for a 19-property self-storage portfolio under its ownership. PGIM Real Estate, Prudential Financial’s real estate investment and financing division, arranged the loan, while Newmark represented the borrower in the transaction. The portfolio encompasses 9,970 units across 1.2 million rentable square feet. The facilities are located in five different states, with 13 of them in Pennsylvania, three in Maryland and one each in New Jersey, Indiana and Kentucky. The portfolio has been under Rosewood’s ownership for more than a decade,…

Nuveen Real Estate Announces $150 Million Allocation from CalSTRS to Invest in Self-Storage Sector in the US

Nuveen, the investment manager of TIAA and one of the largest real estate managers in the world with $141 billion in real estate assets under management, has announced the closing of a separately managed account for the California State Teachers’ Retirement System (CalSTRS) to invest in self-storage assets across the United States. This strategic collaboration includes an initial equity commitment of $150 million from CalSTRS, alongside a 10% equity commitment of $16.6 million from the TIAA General Account for a total allocation of $166.6 million. The strategy will focus on…

Byline Bank Funds $9.25 Million Office-to-Self-Storage Adaptive Reuse Project in Lombard, IL

Byline Bank’s Commercial Real Estate Group (BCREG) has closed on a $9.25 million loan with LSC Development to fund the conversion of a 2000 vintage office building, prominently located at the intersection of I-355 and North Avenue, into a fully climate-controlled, state-of-the-art self-storage facility. The 103,109-square-foot building, located on a 10.5-acre site at 665 W. North Avenue in Lombard, Ill., will be transformed into a 67,853-square-foot Class A, climate-controlled self-storage facility and provides 64 secured surface parking spaces for both RVs and regular vehicles across 14,800 square feet. Two loading…

Eastern Union Secures $9,424,405 to Refinance Renovation Project That Will Deliver 43,000-Square-Foot Self-Storage Facility and 55,000 Square Feet of Retail Space in Springfield, VT

Eastern Union, one of the country’s largest commercial mortgage brokerages, has arranged $9,424,405 in construction-to-permanent refinancing for the first stage of a multi-phase renovation project at 100 River Street in Springfield, VT. This portion of the initiative will create a 43,000-square-foot self-storage facility and 55,000 square feet of retail space. Springfield is located along the Black River about 95 miles northeast of Albany, NY and about 130 miles northwest of Boston. The renovation is being undertaken by Integrity Community Partners, LLC based in San Diego, CA with offices in New…

Baranof Holdings Purchased an Industrial Land Site for $28 Million to Pave Way for a New Self-Storage Facility in Hollywood, CA

The largest land sale in Hollywood for the first quarter goes to Baranof Holdings, which acquired a 1.29-acre industrial land site for $28 million. Dallas-based Baranof Holdings, a developer and asset manager of self-storage facilities, has purchased a 1.29-acre industrial land site in Hollywood for $28 million in order to pave the way for a new Los Angeles self-storage facility. The transaction marks the largest land sale in Hollywood during the first quarter of the year. Baranof Holdings acquired the site at 956 Seward St., which previously operated as a…

SmartStop Self Storage REIT, A Premier Owner And Operator Of Self Storage Facilities in the United States and Canada, Announces Pricing of Underwritten Public Offering

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced today the pricing of its public offering of 27,000,000 shares of common stock at a price to the public of $30.00 per share. SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Shares of SmartStop’s common stock are…