Värde Partners, a leading global alternative investment firm, has recently financed a $185 million loan to refinance a multi-state self-storage portfolio. The joint venture between Chicago-based Metro Storage and Fremont Realty Capital will benefit from this funding. This impressive portfolio consists of 20 state-of-the-art Class A self-storage facilities located in six different states: Illinois, New Jersey, Pennsylvania, Minnesota, New York and Wisconsin.
The assets included in the portfolio boast over 14,000 units with more than 1.5 million net rentable square feet. Talonvest Capital structured the floating-rate bridge loan which features an initial term of three years with two one-year extension options.
According to Jon Miller , Managing Director at Värde Partners , this partnership is proof of their ability to provide capital as trusted partners within the highly competitive self-storage industry . He also highlighted the strength and growth potential of their platform along with numerous opportunities for lending in sectors that have strong fundamentals .
This news was originally published on Connect CRE’s website.
