Värde Provides $185M Refi for 20-Property Self-Storage Portfolio

Värde Partners, a global alternative investment firm, has provided a $185 million loan to refinance a multi-state self-storage portfolio to a joint venture between Chicago-based Metro Storage and Fremont Realty Capital. The portfolio comprises 20 state-of-the-art, Class A self-storage facilities in markets across six states: Illinois, New Jersey, Pennsylvania, Minnesota, New York, and Wisconsin.

With 14,215 units in total, the assets include over 1.55 million net rentable square feet. The floating-rate bridge loan, structured by Talonvest Capital, has a three-year initial term with two one-year extension options.

“Värde welcomed the opportunity to partner with deeply experienced, institutional companies in the self-storage industry as a trusted provider of capital,” said Jon Miller, Managing Director at Värde. “This significant transaction underscores the strength and continued growth of our platform and the range of compelling opportunities to lend in sectors with strong fundamentals.”