BlackRock Managed Funds and Accounts has provided Basis Industrial with a $101.5 million refinancing loan for a seven-property self storage portfolio. The assets are located across six different states, namely Massachusetts, New York, New Jersey, Pennsylvania, Michigan and Florida. Arrow Real Estate Advisors arranged the deal on behalf of the ownership.
The seven facilities are the first properties within Basis Industrial’s portfolio to be developed and opened since the company began its self storage development program in 2021.
Arrow Real Estate Advisors Managing Partner Morris Betesh and Senior Vice President Morris Dabbas, together with Basis Industrial COO Anthony Scavo worked on behalf of Basis Industrial in securing the financing. BlackRock Executive Director Daniella Marca represented BlackRock Managed Funds and Accounts in the deal.
A closer look at the traded properties
The seven, fully climate-controlled self storage properties in the portfolio are as follows:
- The 113,640-square-foot Public Storage facility in Voorhees, N.J., at 111 Centennial Blvd. Opened last week, on Dec. 19, 2025, the property comprises 855 units across one two-story building on a 7-acre site.
- The 157,599-square-foot Public Storage facility in Berkeley Heights, N.J., at 135 Industrial Road. The property opened Feb. 12, 2025 with 1,348 units.
- The 126,383-square-foot Extra Space Storage facility in York, Pa., at 2899 Whiteford Road. Opened on May 1, 2022, the property features 1,000 units a two-story building on a 7-acre site and is currently 89 percent occupied.
- The 71,550-square-foot Extra Space Storage facility in Carmel, N.Y., at 155 Hughson Road. Opened on May 16, 2023, the property is currently 86 percent occupied and encloses 501 units in a two-story building standing on 11 acres of land.
- The 111,422-square-foot Public Storage facility in Plymouth, Mass., at 5 Resnik Road. Opened Oct. 25, 2023, the 806-unit property is currently 87 percent occupied.
- The 126,741-square-foot Extra Space facility at 2560 Aurora Road in Melbourne, Fla. The property began serving customers on Aug. 1, 2025, featuring its 992 units across 4 acres.
- And the 78,187-square-foot Public Storage facility in Detroit, Mich., at 1610 Algonquin St. Recently opened, on Nov. 20, 2025, the property encloses 645 units across a 6-acre site and is currently only 5 percent occupied.
Basis Industrial keeps busy
Basis Industrial’s self storage portfolio comprises more than 2 million square feet across 150,000 units, enclosed within either open and operational, under construction or planned properties. Currently, the firm has 11 facilities in various stages of development, out of which four are slated to open in 2026.
One of such properties is a 121,500-square-foot self storage development in Long Island’s Rockville Centre, N.Y., for which Basis Industrial secured a $27 million construction loan last month. NexBank and NexPoint issued the senior and mezzanine notes, respectively.
