{"id":3767,"date":"2023-05-16T11:42:16","date_gmt":"2023-05-16T11:42:16","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=3767"},"modified":"2023-05-16T11:42:16","modified_gmt":"2023-05-16T11:42:16","slug":"heitman-supplies-65m-bridge-loan-on-sun-belt-self-storage-portfolio","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/heitman-supplies-65m-bridge-loan-on-sun-belt-self-storage-portfolio\/","title":{"rendered":"Heitman Supplies $65M Bridge Loan on Sun Belt Self Storage Portfolio"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/commercialobserver.com\/wp-content\/uploads\/sites\/3\/2023\/05\/Margate-FL.jpg?quality=80&amp;w=755\" width=\"630\" height=\"420\" \/><\/p>\n<blockquote><p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">The portfolio totals more than 597,000 square feet across 3,963 units in Florida, North Carolina and Texas.&#8221;<\/span><\/span><\/span><\/p><\/blockquote>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">A joint venture between Andover Properties and Angelo Gordon has landed $65 million of bridge financing for a seven-asset self storage portfolio across the Sun Belt region, Commercial Observer has learned.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">The lender was not provided by the JV, but sources told CO it was real estate investment firm Heitman that provided the nonrecourse loan. Proceeds from the debt package cover first-time financing and partial refinancing. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">The portfolio totals more than 597,000 square feet across 3,963 units in Florida, North Carolina and Texas. It includes a property operated by Storage King USA in Margate, FL, in South Florida\u2019s Broward County. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Brian Cohen, president and CEO of Andover Properties, described Talanvest as \u201ca trusted\u201d and \u201cintegral partner\u201d in its business with a strong track record of \u201csecuring favorable terms for our deals.\u201d <\/span><\/span><\/span><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Officials at Heitman did not immediately return a request for comment.<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/2023\/05\/heitman-65m-bridge-loan-sun-belt-self-storage-portfolio\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Source<\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The portfolio totals more than 597,000 square feet across 3,963 units in Florida, North Carolina and Texas.&#8221; A joint venture between Andover Properties and Angelo Gordon has landed $65 million of bridge financing for a seven-asset self storage portfolio across the Sun Belt region, Commercial Observer has learned. The lender was not provided by the JV, but sources told CO it was real estate investment firm Heitman that provided the nonrecourse loan. Proceeds from the debt package cover first-time financing and partial refinancing. The portfolio totals more than 597,000 square&hellip;<\/p>\n","protected":false},"author":13,"featured_media":3582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3767"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=3767"}],"version-history":[{"count":3,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3767\/revisions"}],"predecessor-version":[{"id":3771,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/3767\/revisions\/3771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/3582"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=3767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=3767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=3767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}