Anthony Scavo Of Basis Industrial Secures $101.5M Loan From BlackRock For Self-Storage Portfolio

The transaction involved a portfolio of seven self-storage facilities located at 111 Centennial Boulevard & 135 Industrial Rd; 2899 Whiteford Road; 155 Hughson Road; 5 Resnik Road; 2560 Aurora Road; and 1610 Algonquin Street, covering multiple markets including Voorhees & Berkeley Heights, NJ; York, PA; Carmel, NY; Plymouth, MA; Melbourne, FL; and Detroit, MI. The total loan amount was $101,500,000, with a square footage of 785,522 and a price per square foot of $129.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $101,500,000
• Square Footage: 785,522
• Lender: BlackRock Managed Funds and Accounts – Daniella Marca
• Borrower: Anthony Scavo – Basis Industrial
• Borrower’s Representative: Anthony Scavo
• Buyer’s Representative: Anthony Scavo - Basis Industrial
• Brokers: Morris Betesh & Morris Dabbah - Arrow Real Estate Advisors

The refinancing deal was orchestrated by Basis Industrial, allowing for the continuation of operations for the seven self-storage facilities encompassing 6,147 units across varying locations, reinforcing their presence in the respective markets.