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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Nuveen Provides $115M First Mortgage on Storage Post NY/NJ Portfolio

JLL Capital Markets closed on a $115-million refinancing package for a portfolio of nine Tri-State self-storage facilities owned and operated by Storage Post. Nuveen Real Estate provided the first mortgage financing.

Ownership has grown the original 633,364-square-foot portfolio, located in prime regions of New York and New Jersey, to 723,664 rentable square feet across 9,578 units. The New York assets are located in the Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights. The New Jersey assets are located in Haledon, Elizabeth, Linden and Perth Amboy.

The JLL Capital Markets team that arranged the transaction was led by senior managing director Steven Klein and director Robert Tonnessen. “Storage Post’s long history and track record operating self-storage assets in the New York Metro area uniquely positions them to leverage market dynamics, optimize performance and drive growth in this competitive sector,” said Klein.

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JLL's Klein

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing