Hines And Trez Capital Secure $108M New York Life Loan For Self Storage Portfolio

The Self Storage Portfolio transaction in Dallas-Fort Worth secured financing for a 13-property self-storage portfolio across various cities including Allen, Arlington, Carrollton, The Colony, Dallas, Duncanville, Lancaster, Plano, Sachse, and Wylie. The loan amount for this transaction was $108,000,000 with five-year, fixed-rate, interest-only payments, and prepayment flexibility, involving New York Life as the lender.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $108,000,000
• Address: Multiple locations in Allen, Arlington, Carrollton, The Colony, Dallas, Duncanville, Lancaster, Plano, Sachse & Wylie
• Market: Allen, Arlington, Carrollton, The Colony, Dallas, Duncanville, Lancaster, Plano, Sachse & Wylie
• Landlord: Robb DeJean - Hines; John Hutchinson - Trez Capital
• Brokers: John Bauman & Jordan Buck - JLL

The joint venture between Hines and Trez Capital played a significant role in securing the financing for the self-storage portfolio. Hines, a Houston-based real estate investor and developer, collaborated with Trez Capital, a Vancouver-based financing provider, to work with JLL Capital Markets and New York Life Real Estate Investors for this transaction. This move aligns with Hines' strategic self-storage platform to offer Class A storage solutions in high barrier markets.