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JLL Capital Markets arranged acquisition financing on behalf of Storage Post for its new self-storage facility on Staten Island

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.” 

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JLL's KleinJLL's Tonnessen

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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