JLL Capital Markets has arranged a five-year refinancing for a climate-controlled self-storage facility at 193 Western Avenue in South Portland, Maine, on behalf of borrower The Ardent Companies. The loan was secured through a regional bank. The property, completed in 2022 and managed by Extra Space Storage, has sustained occupancy above 90% for 12 consecutive months.
The transaction illustrates continued lender appetite for stabilized self-storage assets in established New England markets with favorable demographic profiles.
Source: JLL
