Updated Jul 22, 2026
Ardent Companies And StepStone Real Estate Secure $140 Million Refinance Loan For Self Storage Portfolio
$140,000,000
$188/SF
Building Size
742,855 SF
Asset Type
Self Storage
Closing
Jul 21, 2026
About this deal
AI
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.
Players
Market Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93