$75M construction financing secured for FL self-storage portfolio
JLL Capital Markets led the financing efforts for the six-property portfolio that will primarily serve Central Florida’s Orlando and Tampa markets
HOUSTON, July 23, 2024– JLL Capital Markets announced today that it has arranged a $75 million construction loan for the development of six, purpose-built, Class A self-storage properties totalling 4,082 units in markets primarily serving the Orlando and Tampa, Florida MSAs.
JLL worked with the developer/borrower, YourStorageUnits Capital Partners, to secure the four-year construction loan.
The six Florida properties are located in Vero Beach, Sebring, Ocoee, Cocoa, Ft. Myers and Ft. Pierce. All of the assets are strategically positioned along major thoroughfares and in densely populated regions, and benefit from close proximity to multiple retailers and surrounding neighborhoods in each respective location.
The YourStorageUnits facilities will offer an array of modern features, including climate-controlled units, interior drive through unloading zones, covered canopy boat/RV parking, drive-up storage and some retail/office space.
JLL’s Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Sher Hafeez, Managing Director Griffin Guthneck and Director John Williamson.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Your Storage Units
YourStorageUnits Capital Partners is a vertically integrated fund manager/developer/operator that invests in, develops and operates Class A self-storage assets, primarily across the southeast. In the last 24 months, the YSU team has successfully delivered fifteen self-storage assets.