{"id":6566,"date":"2024-07-01T17:34:40","date_gmt":"2024-07-01T17:34:40","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=6566"},"modified":"2024-07-16T16:09:38","modified_gmt":"2024-07-16T16:09:38","slug":"varde-provides-185-million-refinance-for-20-property-self-storage-portfolio-across-six-states-in-the-us","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/varde-provides-185-million-refinance-for-20-property-self-storage-portfolio-across-six-states-in-the-us\/","title":{"rendered":"V\u00e4rde Provides $185 Million Refinance for 20-Property Self-Storage Portfolio Across Six States in the US"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/www.connectcre.com\/wp-content\/uploads\/2024\/06\/Chicago_Varde_Metro.jpg.webp\" width=\"555\" height=\"345\" \/><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><u><b><a href=\"https:\/\/varde.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">V\u00e4rde Partners<\/a><\/b><\/u>, a global alternative investment firm, has provided a $185 million loan to refinance a multi-state self-storage portfolio to a joint venture between Chicago-based Metro Storage and Fremont Realty Capital.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">The portfolio comprises 20 state-of-the-art, Class A self-storage facilities in markets across six states: Illinois, New Jersey, Pennsylvania, Minnesota, New York, and Wisconsin.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">With 14,215 units in total, the assets include over 1.55 million net rentable square feet. The floating-rate bridge loan, structured by <a href=\"https:\/\/talonvest.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Talonvest Capital<\/strong><\/span><\/a>, has a three-year initial term with two one-year extension options.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\">\u201c<span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">V\u00e4rde welcomed the opportunity to partner with deeply experienced, institutional companies in the self-storage industry as a trusted provider of capital,\u201d said Jon Miller, Managing Director at V\u00e4rde. \u201cThis significant transaction underscores the strength and continued growth of our platform and the range of compelling opportunities to lend in sectors with strong fundamentals.\u201d<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><u><b><a href=\"https:\/\/www.connectcre.com\/stories\/varde-provides-185m-refi-for-20-property-self-storage-portfolio\/\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/b><\/u><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>V\u00e4rde Partners, a global alternative investment firm, has provided a $185 million loan to refinance a multi-state self-storage portfolio to a joint venture between Chicago-based Metro Storage and Fremont Realty Capital. The portfolio comprises 20 state-of-the-art, Class A self-storage facilities in markets across six states: Illinois, New Jersey, Pennsylvania, Minnesota, New York, and Wisconsin. With 14,215 units in total, the assets include over 1.55 million net rentable square feet. The floating-rate bridge loan, structured by Talonvest Capital, has a three-year initial term with two one-year extension options. \u201cV\u00e4rde welcomed the&hellip;<\/p>\n","protected":false},"author":13,"featured_media":6567,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/6566"}],"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=6566"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/6566\/revisions"}],"predecessor-version":[{"id":6568,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/6566\/revisions\/6568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/6567"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=6566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=6566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=6566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}