A $140 million construction facility was recently arranged to fund InSite Property Group’s development pipeline of class-A self-storage assets across the nation. The facility has the ability to expand up to $215 million.

The financing is part of the company’s ongoing acquisition, development and repositioning strategy that includes a pipeline of 40 projects totaling nearly 5 million square feet of core class-A product in infill U.S. markets. InSite operates facilities under the Secure Space Self Storage brand.

JLL capital markets worked on behalf of the borrower, InSite, to place the floating-rate loan with ACORE Capital, a commercial real estate finance company and debt fund manager.

“We appreciate the creativity of both the JLL and ACORE teams in helping us structure a truly unique facility, which will provide us the flexibility to execute on our development pipeline,” said Chip Brown, InSite CFO.

The JLL capital markets debt placement team representing the borrower was led by Bill Fishel, Matt Stewart and Chad Morgan in concert with JLL’s national self-storage team of Brian Somoza, Steve Mellon and Griffin Guthneck.