Category: Finance News

JLL Arranges Financing for Self-Storage Facility in Hillsborough, New Jersey

JLL Capital Markets arranged construction financing for Extra Space Hillsborough, a 709-unit, 105,663-square-foot self-storage development to be built at 35 Bedle St. in Hillsborough, Somerset County, NJ. A JLL team of Michael Klein, Nazario Paragano and Michael Donohoe worked on behalf of the borrower, Shadowbrook Capital, to secure the five-year construction and bridge loan through Provident Bank. Terms were not disclosed. “Shadowbrook Capital presented a compelling opportunity by identifying a clear need for high-quality self-storage in this underserved market,” said Paragano. “The combination of a premier sponsor, a strategic location with…

Talonvest Arranges Refi for Five-Property Self-Storage Portfolio Across Rancho Santa Margarita, Pasadena, Northridge, Hollywood and Sacramento – California

Talonvest Capital, Inc. arranged $64 million in refinancing for a five-property self-storage portfolio on behalf of SoCal Self Storage, a Southern California owner-operator with nearly four decades of experience. Eric Snyder, Kim Bishop, Mason Brusseau and Lauren Maehler were among the Talonvest team members responsible for the transaction The financings were structured as 10-year, non-recourse permanent loans through a securitized lender, featuring full-term interest-only payments at fixed rates, no cash management, and highly competitive spreads. Talonvest further enhanced the execution by negotiating key borrower-friendly terms, ranging from the waiver of…

Talonvest Arranges $35 Million Financing For Five-Property Self-Storage Portfolio in Across Five US States

Talonvest Capital has arranged a $35 million, five-property financing on behalf of Andover Properties and its JV partner, TPG Angelo Gordon. The transaction includes 2,552 units and 180 parking spaces across New York, Florida, Texas, North Carolina, and Georgia. Totaling 385,635 net rentable s/f (NRSF), the assets are located in high-growth markets supported by strong demographics and long-term fundamentals. The financing consists of a three-year, non-recourse bridge loan provided by a private, institutional commercial real estate debt fund. The loan was structured with full-term interest-only payments at a fixed interest…

Gantry Arranges $12M Refinancing for Two Self-Storage Facilities in Suburban Detroit, Michigan

Gantry has arranged $12 million across two loans to refinance maturing debt for a pair of National Storage-branded facilities in suburban Detroit on behalf of Pogoda Cos. The stabilized properties offer 1,082 units totaling more than 141,000 net rentable square feet with additional vehicle storage and both climate-controlled and drive-up units. Andy Weiss, Andy Bratt and Nick Severson of Gantry represented the borrower, a private real estate investor. A life insurance company provided the seven-year, fixed-rate loan, which features interest-only payments for the full term and flexible prepayment. Gantry will…

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.…