InSite Property Group scores $140 million construction facility for national self-storage development pipeline

 

Chip Brown

LOS ANGELES, CA – JLL Capital Markets announced it has arranged a $140 million construction facility with the ability to expand up to $215 million for InSite Property Group to fund its development pipeline of Class A self-storage assets across the nation.

            Rendering of Self-Storage facility to be developed
                   nationally by InSight Property Group

 Bill Fishel

 JLL worked on behalf of the borrower, InSite Property Group (“InSite”), to place the floating-rate loan with ACORE Capital (“ACORE”), a leading commercial real estate finance company and debt fund manager.

 InSite operates facilities under the Secure Space Self Storage brand. 

The financing is part of the company’s ongoing acquisition, development and repositioning strategy that includes a pipeline of 40 projects totaling nearly 5 million square feet of core, Class A product in infill markets across the U.S.

Matt Stewart 

 “We appreciate the creativity of both the JLL and ACORE teams in helping us structure a truly unique facility, which will provide us the flexibility to execute on our development pipeline,” said InSite CFO Chip Brown. “ACORE’s execution was first class and we are looking forward to partnering with them.”

 The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Bill Fishel, Senior Director Matt Stewart and Analyst Chad Morgan in concert with JLL’s national Self-Storage team of Managing Directors Brian Somoza and Steve Mellon and Senior Director Griffin Guthneck.

Chad Morgan

“The self-storage asset class has seen significant demand from institutional capital investors as it has been one of the strongest performing asset classes through the COVID-19 pandemic,” said Fishel, who is also co-head of JLL’s Los Angeles’ Capital Markets office.

 “The bespoke nature of this construction facility will provide InSite with a valuable tool to help achieve their strategic growth objectives across the U.S.,” Stewart added.

Steve Mellon 

“It was a phenomenal execution and ACORE’s hand-on approach will be a true value-add as they work through InSite’s impressive development pipeline.” 

 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 advisory, debt placement, equity placement or a recapitalization.

Griffin Guthneck

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 

 CONTACTS:

Kimberly Steele

Senior Associate

 Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 us.jll.com/capitalmarkets

 InSite 

 acorecapital.com.

 jll.com.

 

Trion Properties Expands into Southeast Market; Establishes Second Office in Miami Beach, FL; and Hires New Director of Acquisitions

Marley R. Dominguez

MIAMI BEACH, FL – Trion Properties, a private equity real estate firm based in West Hollywood, California that specializes in multifamily investments, announces its expansion into the Southeastern U.S. market with the establishment of a second office in Miami Beach, Florida at 1111 Lincoln Rd., Miami Beach, 33139.

 The firm, which has historically focused its investments on the West Coast, has hired real estate veteran Marley Dominguez as director of acquisitions to run the Miami Beach office.

 Dominguez will be responsible for sourcing deals throughout the Southeast, specifically in South Florida, Central Florida, Atlanta, and the Carolinas, according to Max Sharkansky, Managing Partner at Trion Properties.

Max Sharkansky

 “Establishing this new office in Miami Beach allows Trion to expand our reach into a region that aligns well with our investment strategy and goals for our investors,” says Sharkansky.

 “The Southeast is enjoying outsized multifamily demand due to stellar job growth and a mild climate, making it an ideal area of the country for our second office and expansion plans.”

 Dominguez, who has nearly 20 years of progressive core-plus and value-add multifamily real estate investment experience focused on acquisitions and asset management throughout the U.S., is an ideal hire for the role of director of acquisitions in this region, Sharkansky adds.

 “Marley has led the acquisition or development of over $4 billion in real estate transactions focusing on both ground-up and existing products in the Southeast, sunbelt, and West Coast markets,” notes Sharkansky.

 “His deep and extensive knowledge and networks with principals, brokers, property manager, and lenders position him favorably as our leader in this promising region.”

  CONTACTS:

Micaela Fehrenbach / Elisabeth Manville

Brower Group

(949) 438-6262

emanville@brower-group.com