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JLL Lines Up Acquisition Debt for Storage Post on Staten Island
JLL Capital Markets has arranged $33.2 million in financing for Storage Post’s new 2,388-unit self-storage facility located at 620 Richmond Terr. on Staten Island.
JLL worked on behalf of the borrower, Storage Post Self Storage, to secure the loan through SoundPoint Capital, an alternative asset management firm based in New York with $28.9 billion of assets under management. Storage Post acquired the newly built, four-story facility as part of its rapid growth in 2022.
The JLL Capital Markets Debt Advisory team was led by senior managing director Steve Klein, director Robert Tonnessen, VP Jackie Ferrer and associate Ricky Song.
“The property’s location within an underpenetrated, densely populated market, combined with Storage Post’s self-storage expertise, present an opportunity for rapid lease-up and asset stability,” said Klein.
Tonnessen added, “Lender appetite for well-located, best-in-class self-storage assets remains strong in what has been a volatile market.”
- ◦Financing
