Category: Finance News

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…

10 Federal Storage Raises $80 Million in Nine Months via Fourth Self-Storage Offering in Georgetown, TX, with a Strong Performance Across Portfolio

  10 Federal, a prominent and innovative leader in the self-storage sector, proudly announces a highly successful capital infusion of $21 million in equity during the third quarter for their Fourth Self Storage offering. This achievement has propelled 10 Federal’s total capital raised for its fourth offering to an impressive $80 million, approaching the company’s ambitious $100 million year-end target. “We are excited to share that we have successfully secured an additional $20 million in equity funding during the third quarter, bringing our total capital raise to $80 million within…

Basis Industrial Closes on $8.3 Million Construction Loan for Self-Storage Facility in Detroit, MI

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, closed on an $8.308 million construction loan on Sept. 22, 2023 for a self-storage facility located at 1610 Algonquin Street, Detroit, MI 48215. Basis Industrial acquired the land on which the storage facility is being built in October 2021. This is Basis’ third construction loan closing this year. Basis continues to source financing due to its long track record of success and deep financial acumen. Berkadia sourced the construction financing from Old…