Ardent Companies And StepStone Real Estate Secure $140 Million Refinance Loan For Self Storage Portfolio

The asset involved in this transaction is a self-storage portfolio located in the United States, comprising eight properties totaling 742,855 square feet and 7,650 units. The loan amount for this portfolio is $140,000,000, which reflects its importance in the market.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $140,000,000
• Loan Type: Refinance
• Loan Terms: floating-rate
• Lender: Tony Fineman - Acore Capital
• Landlord: Matt Shulman - Ardent Companies; StepStone Real Estate
• Brokers: Brian Somoza, Steven Klein, John Bauman, Campbell Swango & Shishir Reddy - JLL

The financing for this transaction was arranged by JLL Capital Markets, with key players including Brian Somoza, Steven Klein, John Bauman, Campbell Swango, and Shishir Reddy. A joint venture between Ardent Companies and StepStone Real Estate secured the refinancing loan through ACORE Capital, highlighting the collaboration within the real estate investment landscape.