CYPRESS, TEXAS — Deason Financial Group has arranged a $16.1 million permanent loan for the acquisition of Blackhorse Storage & Postal, a 552-unit self-storage facility located in the northwestern Houston metro of Cypress. The 14.2-acre facility spans 261,206 net rentable square feet across a variety of unit types. The loan was structured with a five-year term, fixed interest rate and a 25-year amortization schedule. Dave Knobler of Marcus & Millichap brokered the sale. The names of the direct lender and borrower were not disclosed.
ROCKVILLE CENTRE, N.Y. — Florida-based development and investment firm Basis Industrial has received a $27 million construction loan for a self-storage project that will be located in the Long Island community of Rockville Centre. Public Storage will operate the facility, which will comprise 121,500 gross square feet of space across 957 units. NexBank is the senior lender on the project, and NexPoint is the mezzanine lender. Construction is underway and is expected to be complete in early 2027.
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Capital Returns as 2025 Signals a Market Reset
By Patrick McGlohn, senior managing director, Berkadia After two years of caution and recalibration, capital is flowing back into commercial real estate. The bid-ask gap between buyers and sellers is narrowing, underwriting assumptions are stabilizing and both equity and debt investors are once again finding common ground. At Berkadia, we’re seeing equity move from the sidelines to the playing field, selectively, but decisively. Equity’s Comeback: Selective, but Strong Private equity and institutional investors are increasingly re-entering the market, with activity strongest in the “Smile States,” stretching from Northern Virginia to the western states and extending into major cities like Chicago. Much of the capital is chasing value-add and opportunistic plays rather than core, stabilized assets. Over the past couple of years, many equity investors would only touch preferred equity because of valuation uncertainty, but now we’re seeing common equity return in a meaningful way. The change reflects both greater pricing clarity and a collective sense that the bottom of the market cycle has passed. Navigating the Wall of Maturities The looming wall of debt maturities remains a defining storyline for 2025 and beyond. Nearly $950 billion in commercial mortgages matured in 2025 — roughly 20 percent of all outstanding commercial …
COLORADO SPRINGS, COLO. — Spartan Investment Group has acquired a 76,720-net-square-foot self-storage facility in Colorado Springs for an undisclosed price. FreeUp Storage, Spartan’s in-house facility management solution, will mange the 139-unit property, which was under local ownership. Spartan plans to modernize the property, which was built before 2000, by implementing StoreEase, the company’s virtual management system.
AUBURN HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $13.6 million construction loan for a self-storage project in Auburn Hills. Adam Ferguson of BFG arranged the loan with a banking institution. The borrowing entity was Opdyke/S Blvd Self-Storage LLC & 975 Opdyke II LLC.
LEHI, UTAH — A joint venture between Gardner Group, a Salt Lake City-based full-service commercial real estate development and management company, and Management Elevated, a Utah-based self-storage third-party manager and consulting firm, has completed the sale of Saratoga Storage, a 676-unit self-storage facility in Lehi. Constructed in 2023, Saratoga Storage consists of three single-story buildings with 100 drive-up units. The property offers a gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, a 24/7 video surveillance throughout the facility, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller in the transaction.
MAGNA, UTAH — The LeClaire-Schlosser Group of Marcus & Millchap has directed the sale of Pink Door Storage & RV, a 63,630-square-foot storage facility in Magna. A local development partnership sold the asset to Zoke Group for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller. Constructed in 2002, Pink Door Storage & RV features 445 self-storage units spread across seven single-story buildings with 220 drive-up units. Property amenities include a gate entry with a digital keypad, an onsite management office in front of the entrance gate, 24/7 surveillance, asphalt driveways, units with roll-up doors and covered RV and boat parking.
FRASER, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc., have completed an 85,330-square-foot self-storage redevelopment project in Fraser, a northern suburb of Detroit. The property at 31475 Utica Road was formerly a light industrial facility built in 1975. The asset now consists of a two-story, climate-controlled building, along with exterior non-climate-controlled buildings, offering a total of approximately 750 storage units, a 24-hour security system and a drive-in area providing access to the main interior storage area.
FREMONT, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the sale of an Extra Space Storage property totaling 49,922 square feet in Fremont. A private real estate investor sold the self-storage facility to an institutional self-storage developer, operator and manager for $18.8 million. Located at 38491 Fremont Blvd., Extra Space Storage offers 568 units, most with drive-up access, controlled access gated entry and 24-hour closed circuit surveillance. The Levin Johnston team represented the seller and procured the buyer in the deal.
CAPE CORAL, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $14 million loan for the refinancing of a 1,016-unit self-storage facility located at 1111 S.W. Pine Island Road in Cape Coral, a southwest Florida city near Naples. Operated by CubeSmart, the 137,900-square-foot property features a wide range of climate-controlled units and moving supplies for tenants. Doug Brooks of MMCC arranged the loan through an unnamed local bank on behalf of the borrower, Island Estate Group, a real estate investment company that operates in Florida, New York, Georgia and South Carolina. The five-year loan was underwritten with a 25-year amortization schedule, 60 percent loan-to-value ratio and 18 months of interest-only payments.
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