Basis Industrial Secures $101.5M Refinance From BlackRock For Self Storage Portfolio Across Multiple States
$101,500,000
$129/SF
Building Size
785,522 SF
Asset Type
Self Storage
Closing
Dec 22, 2025
AI
A refinancing transaction involves a seven-property self-storage portfolio comprising 785,522 square feet and 6,147 units located at 111 Centennial Boulevard, 135 Industrial Road, 2899 Whiteford Road, 155 Hughson Road, 5 Resnik Road, 2560 Aurora Road, and 1610 Algonquin Street, impacting markets in Voorhees and Berkeley Heights, New Jersey; York, Pennsylvania; Carmel, New York; Plymouth, Massachusetts; Melbourne, Florida; and Detroit, Michigan.
Summary of transation details:
- Property Type: Self Storage
- Transaction Amount: $101,500,000
- Lender: BlackRock Managed Funds and Accounts
- Landlord: Anthony Scavo, Jay Massirman, Stephen Garchik & Daniel Weinstein - Basis Industrial
- Loan Type: Refinance
The refinancing allows Basis Industrial to convert construction debt into long-term financing as the newly opened, fully climate-controlled facilities begin to generate operational revenue through leasing activities.
Players
Market Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93