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FINANCING: New York Life provides $53.5M refinancing for Investec Real Estate Companies’ three-property California self-storage portfolio. The five-year, full-term interest-only loan covers 1,818 units totaling 253,496 RSF across Highland, Goleta and Murrieta. Talonvest Capital arranged the financing, with Andrew Marshall, Kim Bishop, Mason Brusseau and Lauren Maehler advising on the transaction. Kenny Slaught, President of Investec Real Estate, represented the sponsor.

DISPOSITION: EquiCap Commercial sells Peoria Storage Center Portfolio in Bellevue, IL. The two-property portfolio at 7030 W. Plank Rd. in Peoria and 6014 Enterprise Rd. in Bellevue totals 472 units and 73,680 NRSF. The stabilized portfolio generated multiple offers and sold above list price. Alex represented the seller in the transaction.

DISPOSITION: Franklin Street brokers sale of 182-unit Extra Space Storage facility in Vero Beach, FL. The 17,390 SF, non-climate-controlled, drive-up property at 4870 20th St. was purchased by private investor Kirk Johanson from seller Zack Widmann. David Perlleshi of Franklin Street represented the seller, with the opportunity referred by Luke Elliott and Mike Mele of Cushman & Wakefield.

FINANCING: Talonvest arranges $57.75M financing for seven-property self-storage portfolio in Florida. The Class A portfolio totals 4,598 units and 486,769 NRSF across high-growth Florida markets. The non-recourse debt fund loan features a two-year initial term, three one-year extension options, full-term interest-only payments, no exit fee, and an 18-month cash management holiday. Jon Erickson of HPI Real Estate Services & Investments represented the sponsor, with Eric Snyder, Kim Bishop, Carson Kurland, and Lauren Maehler arranging the financing for Talonvest.

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27,425 SF Building | 6.06% Cap Rate | 160 Non Climate Controlled Units, 58 Climate Controlled Units, & 12 Open Parking Spaces | Access to US-11, US-82/McFarland Boulevard & AL-69

84,175 NRSF Building | 399 Climate-Control & 234 Non-Climate Units | 81.99% Occupancy | 5.10% Cap Rate

177,802 SF Building | 1,517 Units | 95% Occupancy

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