The Roll Up: Weekly Self-Storage Development News 7.13.22

Bruce Goldberg
July 13, 2022

JLL Capital Markets arranged $33.2 million in financing through SoundPoint Capital for Storage Post Self Storage’s new four-story, 2,370-unit self-storage facility at 620 Richmond Terrace in Staten Island, NY. SoundPoint is an alternative asset management firm based in New York with $28.9 billion of assets under management. The facility will be located on the north shore of Staten Island. Source: Real Estate Weekly


Aries Capital helped secure $46 million for construction, bridge and permanent debt financing for six self-storage facilities with more than a combined 414,000 square feet in California, Colorado, Florida and Texas. Directors Brandon Perdeck and Matt Carney, along with Assistant Vice President Steve Adams, worked the deals on behalf of its clients:

  • Vineburg Wine & Self Storage obtained a $19.9 million construction and bridge loan for a facility in Sonoma, CA at 1010 Napa Road. It has 396 climate-controlled units across 46,397 square feet, plus wine pallet storage spaces and RV/boat parking. The owner plans to add 489 units with 65,000 square feet.
  • Diamond Development Partners garnered a $17.5 million construction loan for Centre Point Self Storage, set for 1,361 climate-controlled units across 144,213 square feet at 21145 Diamond Place in Santa Clarita, CA.

  • Aries also negotiated an $8.7 million CMBS deal for Southern Star Self Storage for the purchase of four storage facilities in Texas, Florida and Colorado.  Source: Multi-Housing News

The former Drexeline Shopping Center in Drexel Hill, PA, has been renamed the Drexeline Town Center. MCB Real Estate from Baltimore, MD launched an approximately $100 million redevelopment, with the goal of reworking the property at 5100 State Road from a dated retail and office complex into a 348,185-square-foot mixed-use development with retail, apartments and self-storage spread over 18.5 acres. It took six years….

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