Category: Finance News

Marc Tropp, a senior managing director with Eastern Union, has arranged $10.1 million in financing toward the ground-up construction of a five-story, 690-unit, self-storage facility in Davenport, FL. Davenport is situated approximately 65 miles east of Tampa. Eastern Union, based in New York, is one of America’s largest providers of commercial mortgage brokerage and capital markets advisory services. Together with senior managing director David Merkin, Mr. Tropp oversees the firm’s Mid-Atlantic Region office in Bethesda, MD. The climate-controlled property will have gross square footage of 103,020 square feet and 76,431…

Northmarq’s Newport Beach Debt + Equity team of Managing Director David Blum and Investment Analyst Alvin Cao has arranged $8 million in construction financing for Lanier Islands Storage Caves, a proposed self-storage facility with industrial condominium storage units. Located at 6034 Lanier Islands Parkway in Buford, GA., the property is situated on a 7.67-acre site and will feature boat and RV storage less than a mile from Lake Lanier. Northmarq arranged financing on behalf of the borrower, Storage Caves-Lake Lanier Buford, through a correspondent relationship with a local regional bank.…

  Hialeah Storage Associates, an affiliate of H&M Development and Blue Vista Capital Management, has obtained an $18 million construction loan from Old National Bank for a self-storage facility. The project will be built on a two-acre site at 2401 W. Okeechobee Road. The S. Florida Business Journal reports that the developer purchased the land for $5.58 million in 2023. Subsequently, it received an okay from the area planning agency for a 113,000-square-foot facility that can go three stories high and have 1,025 climate-controlled storage units. Kenneth Carlson will be…

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, and Nuvo Development are pleased to announce a successfully tailored full capital stack which includes pari-passu joint venture equity investment as well as construction financing for a class A, self storage development in Magnolia, New Jersey. The site is centrally located in the core of a strong residential suburb of northwest NJ, a few miles southeast of Philadelphia, with a population of 102,000 in a 3-mile radius. Gary Cardamone, Chief Executive Officer at Nuvo, commented, “We couldn’t be…

Terrydale Capital, a trusted name in the real estate financing industry, is pleased to announce that Cody Baker, Vice President of Self-Storage, has arranged a loan of $3,695,000 for the refinance of a self-storage development project in Kings Mountain, North Carolina. The buyer has requested to remain anonymous. Through one of Terrydale Capital’s correspondent banking relationships, Baker was able to secure a 13% interest rate, full term interest only for 2 years. Terrydale Capital is dedicated to providing personalized financial solutions that meet the unique needs of their clients. With…

Talonvest Capital and Metro Self Storage finalize a $22.5 million financing deal for expansion across the southeastern US, marking significant growth. Talonvest Capital, Inc., teamed up with Metro Self Storage to finalize a substantial $22.5 million financing agreement for a portfolio encompassing four properties across the southeastern United States. This strategic move bolsters Metro Self Storage’s presence in key suburban areas near Nashville, Tampa, Orlando, and Atlanta. With a total of 2,382 units and 282,396 net rentable square feet, this deal marks a significant expansion for the storage company. The…

Silver Star Properties REIT, Inc. (“Silver Star” or the “Company”) is a self-managed real estate investment trust that is currently repositioning in an orderly manner into the self-storage asset class. Hartman SPE, LLC (the “SPE”), an indirect subsidiary, which owns legacy office, retail, and industrial properties today announced “the United States Bankruptcy Court for the District of Delaware confirmed in all respects the SPE’s Combined Disclosure Statement and Chapter 11 Plan.” Under the Chapter 11 Plan, the SPE will continue to conduct an orderly sale of its assets to pay…