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DISPOSITION: EquiCap Commercial sells 714-unit North Milwaukee Self Storage in Milwaukee, Wisconsin.  The 66,583 SF, institutional-quality facility at 5350 N. Sherman Boulevard sits on 2.53 acres and offers meaningful operational upside in the Milwaukee market. Jesse Luke, Scott Rihm, Marla Čolić, and Alex Erbs represented the transaction.

DEVELOPMENT: Barefoot Land Co. and Maue Storage begin site work for 75,400 SF self-storage facility in Miamisburg, OH. The planned facility at 2580 Maue Road will feature 527 climate-controlled units and 41 drive-up, ambient-air units. Miamisburg planners approved the project with conditions last October. Property owner Connie Ryan and Miamisburg Development Director Andrew Rodney were also involved in the project.

DEVELOPMENT: Storage Authority opens Carolina Road facility in Suffolk, VA., with two of eight buildings completed on an 8-acre site. The facility offers standard, premium, and elite units, climate-controlled and drive-up storage, and 29 RV parking spaces. Franchise owners Mark Christi and Tia S. are operating the facility, with the remaining buildings expected to be completed in approximately three months. Storage Authority CEO Marc Goodin supported the development and pre-opening efforts.

FINANCING: Reliant Real Estate Management secures the $86M refinancing for 5,975 units totaling 701,206 NRSF across Georgia, Florida, and North Carolina. Gantry arranged the refinancing, and New York Life Insurance Co. provided the variable-rate, full-term interest-only bridge loan, with a replenished interest reserve and extension options. Gantry Principals Andy Bratt and Amit Tyagi, along with Associate Sean Kuang, represented the borrower.

43,967 SF Building | 6.61% Cap Rate | 56.6% Occupancy

121,200 SF Building | 66% Occupancy | 10.0% (Proforma)

67,550 SF Building | 23% Occupancy | Access to Northwest Arkansas Ntl Airport | 11.30% Pro-Forma Cap Rate

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