Category: Finance News

SafeLease Announces Launch of SL Storage Partners to Provide Capital Solutions for Self-Storage Facility Owners Across North America

SafeLease, the leading provider of self-storage tenant protection and risk management products, today announced the launch of SL Storage Partners, a sister company built to serve self-storage facility owners seeking financing solutions or exit opportunities. SL Storage Partners will focus on direct lending and acquisitions of self-storage facilities across North America. SL Storage Partners and its affiliates are backed by $250 million of equity capital. The Company is positioned to move quickly and offer execution strength across a broad range of capital transactions, including bridge, mezzanine, and preferred equity financings,…

Knickpoint Secures $18 Million Financing for Miami Self-Storage Project in Miami, FL

Knickpoint Ventures is developing 36th Street Storage, a self-storage project consisting of 1,160 storage units or 98,488 rentable square feet located in Miami. Knickpoint acquired the 1-acre site for $4.6 million in 2022 and concluded the planning and entitlement efforts in 2023. The land was a used car lot before Knickpoint purchased it. Knickpoint engaged the Aztec Group to source construction financing for the project. The Aztec Group arranged $18.3 million in construction financing for the deal. The financing opportunity of 36th Street Storage was awarded to Bank Hapoalim. 36th…

10 Federal Surpasses $96 Million in Capital Raise, Expands 4th Self-Storage Offering in Greeneville, TN and Seguin, TX

10 Federal, a prominent operator in the self-storage sector, proudly announces a significant achievement with a successful capital raise surpassing $16 million in the fourth quarter of the year for their 4th Self Storage offering. This latest accomplishment marks a large milestone, bringing the total capital raised by 10 Federal’s fourth offering to a noteworthy $96 million. Andrew Capranos, President of 10 Federal, expressed gratitude, stating, “We are immensely pleased with the trust from our valued investor base, reaching a cumulative capital raise of $96 million since the offering’s inception…

Etude Storage Partners Aims to Deploy at Least $500 Million for Self Storage Investment Across the North American Market

Etude Capital, one of the largest owners of self-storage facilities in the United States, and San Felipe Financing LLC, a private real estate entity controlled by Richard D. Kinder, today announced the launch of Etude Storage Partners, a joint venture that will invest across the North American self-storage market. The joint venture has a $250 million equity commitment from San Felipe Financing LLC and aims to deploy at least $500 million. Etude Storage Partners is positioned to acquire and provide debt financing to self-storage facilities. The joint venture capitalizes on…

Gantry Arranges Refinance For Two Self-Storage Properties in Bay Area, CA

Gantry secured a total of $17.6 million in permanent loans to refinance a pair of Bay Area self-storage facilities. The life company financings funded the sponsor at $9.5 million for SAF Keep San Ramon and $8.1 million for SAF Keep Hayward, which totals 244,605 square feet of rentable space. Principal Tom Dao and associate Erinn Cooke with Gantry’s dedicated Self Storage Financing Team secured the financing on behalf of the borrower, a private real estate entity. The 10-year loans were sourced from one of Gantry’s correspondent life company lenders and…

Talonvest Capital Negotiates $10.2 Million Life Company Bridge Loan

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with their client Metro Self Storage, are thrilled to announce the successful closing of a $10.2 million bridge financing for an award-winning, Class-A self-storage facility in Monmouth Junction, New Jersey. The facility spans 74,794 net rentable square feet and is a mix of climate-controlled and drive-up units. The site demographics are strong, with an average household income of $170,000 and a 5-mile trade area that is undersupplied, with only 4.3 net rentable square feet per capita of…

Basis Industrial Lands Financing for a Self Storage Project in Melbourne, FL

Basis Industrial has received an $11 million construction loan for the development of a 955-unit self-storage facility in Melbourne, Florida. In a transaction arranged by Berkadia, American Momentum Bank provided the financing for the 126,741-square-foot property, which will be managed by Extra Space Storage. Basis Industrial purchased the site in November 2022, along with a small bay portfolio, for a combined $30 million. Marcus & Millichap First Vice President Kenneth Hobson represented the seller, and Basis Industrial was represented in-house by President Anthony Scavo. The company broke ground on the…

Gantry Secures $8 Million for South Loop Self Storage in Chicago, IL

Gantry has secured an $8 million permanent loan to refinance existing debt on a South Loop self-storage facility converted from a former parking structure. Located at 605 S. Wabash Avenue, the 95,000-square-foot facility encompasses 1,184 units across five stories. The property is now under new on-site management, operating as an Extra Space Storage, and making rapid progress towards stabilization in a programmatic fashion. Gantry’s Andy Bratt, principal, and Sean Kuang, associate, secured the loan on behalf of the borrower, a private real estate investor. The five-year, fixed-rate permanent loan was…

Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two Self-Storage Facilities in Atlanta and Fayetteville, GA

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Talonvest Capital, which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.…

Miami Self-Storage Investor Scores $10.3M Construction Loan for a Self Storage Facility near Doral, FL

The fact of the matter is, Americans keep buying more stuff. And when stuff starts piling up, they need a place to put it. More than one in five Americans rent a self storage unit. And that number is growing by the day. So has rent. Self-storage rent has increased 6.1% year-over-year to $176 for a standard 10-foot-by-10-foot unit, according to RentCafe. South Florida had the seventh-most self-storage construction activity during the last decade with 9.1 million square feet of new storage. DXD Capital obtained a $10.33 million construction loan…