Category: Finance News

BlackRock Provides $102M Refi for Self Storage Portfolio Across Six Different US States

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…

Storage Post Lands $47 Million for Self-Storage Facility in Manhattan, New York

Storage Post has secured a $47 million first mortgage loan for its 1,959-unit self storage facility at 444 E. 10th St., in Manhattan’s East Village neighborhood. Nuveen Real Estate issued the note in a transaction arranged by JLL Capital Markets. Storage Post and Almanac Realty Investors acquired the property in 2022 from a private individual, for $61 million. At the time, the owners landed a $40.3 million acquisition loan held by Heitman, with an initial maturity set for April 2025. Storage Post manages two other locations under the same brand…

JLL Arranges First Mortgage for Self-Storage in “Undersupplied” East Village

JLL Capital Markets arranged a $47-million first mortgage loan for Storage Post East Village, a newly repositioned, Class A, climate-controlled, self-storage facility located at 444 E. 10th St. in the East Village. Senior managing director Steven Klein and senior director Robert Tonnessen represented the borrower, a wholly owned subsidiary of self-storage owner operator and developer Storage Post, LLC. The loan was provided by Nuveen Real Estate. Situated in one of Manhattan’s most supply-constrained residential submarkets, Storage Post East Village was acquired by Storage Post and its equity partner Almanac Realty…

Talonvest Secures $205.2 Million Financing for Etude Storage Portfolios in Eight Midwest and Sunbelt States

On behalf of Etude Capital and its affiliates, Talonvest Capital, Inc., a boutique commercial real estate mortgage brokerage firm, is pleased to announce the successful closing of two portfolio loans totaling $205.2 million. The portfolios encompass 2.3 million square feet across 31 assets in eight Midwest and Sunbelt states. The Talonvest team responsible for these refinancings included David DiRienzo, Kim Bishop, Mason Brusseau, Ivan Viramontes, and Lauren Maehler. Steven Stein, President of Etude Capital, commented, “These financings are a testament to Talonvest’s experience and market insight, enabling us to secure…

Affinius Capital Originates $17.25 Million Loan to Refinance Storelocal Self-Storage Portfolio in Nashville, Tennessee

Affinius Capital LLC today announced the closing of a $17.25 million loan to refinance a Storelocal two-property, 1,341-unit self-storage portfolio located in the greater Nashville, TN region. The loan was made to Pruit Investments and will be used to refinance the properties and hold the assets long-term. Affinius Capital Senior Vice President Tyler Figley commented, “Nashville’s population and employment growth continue to drive strong self-storage fundamentals. The portfolio represents our commitment to financing high-quality self-storage in growth markets with experienced, repeat sponsorship.” The portfolio features a variety of unit types…

NexPoint Fully Subscribes $45 Million Self-Storage DST

NexPoint, a multibillion-dollar alternative investment firm, today announced that it has fully subscribed its NexPoint Storage VI DST, a Delaware Statutory Trust (“DST”) offering. The offering has reached its total goal of $45 million in equity raised since its launch in January. NexPoint Storage VI includes two GenerationV (“GenV”), Class-A storage facilities located in Temple Hills, Maryland, and Nashville, Tennessee. Both properties are managed by Extra Space Storage, a leading third-party manager of self-storage properties in the United States. The properties benefit from being accessible to stable-growth metropolitan statistical areas.…

Talonvest Structures $19.2 Million in Life Company Loans

Talonvest Capital, Inc. is proud to announce the successful closing of $19.2 million in financing on behalf of Hanora Investment Group (www.hanoragroup.com), a real estate investment firm specializing in the acquisition, development, and management of self-storage properties, and its institutional joint venture equity partner. The loan is secured by self-storage facilities located in Claremont, CA and American Canyon, CA. Together, the properties have 117,726 net rentable square feet (NRSF) in 785 non-climate-controlled units, 348 non-climate-controlled drive-up units, and 16 locker units. The American Canyon location also offers 125 RV parking…

Newmark Secures $425 Million Refinancing for National Self-Storage Portfolio

Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged a $425 million loan on behalf of Centerbridge Partners and Merit Hill Capital for the refinancing of a national portfolio of 78 self-storage properties (“the Portfolio”). Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Director John Caraviello secured the financing from Citigroup and Goldman Sachs. The Portfolio totals nearly…

Talonvest Capital Closes $13 Million Self-Storage Financing for Millersville, MD

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, has successfully arranged a $13,000,000 permanent loan for the refinance of a self-storage facility in Millersville, MD. The non-recourse loan was secured on behalf of Storage Village, an experienced owner/operator with facilities located throughout the Baltimore-Washington corridor. Known for its commitment to integrity, excellence, and community service, Storage Village has been a trusted storage owner for thousands of customers for over 25 years. The property features 556 climate-controlled units, 188 non-climate-controlled units, and 5 parking spaces for vehicle…

White Oak Real Estate Capital Provides Senior Secured Loan to 1784 Holdings for Self-Storage Development in Garden Grove, California

White Oak Real Estate Capital, an affiliate of White Oak Global Advisors, today announced it has provided a $27.2 million senior secured loan to 1784 Holdings LLC, a national self-storage developer and owner specializing in developing, constructing and operating institutional quality self-storage facilities. The financing will be used to support the development of an 87,488 net rentable square feet (NRSF) climate-controlled self-storage facility in Garden Grove, California. Garden Grove is a dense Orange County community with an affluent population. Self-storage offerings are limited in the community due to high barriers…