V DXD CAPITAL COMPLETES DEVELOPMENT OF NEW 71,335 SF SELF STORAGE FACILITY IN ATLANTA SUBURB OF LITHIA SPRINGS, GA

Brand new, Class A, climate-controlled storage facility
 in the Atlanta suburb of Lithia Springs, Ga
will have 703 individual storage units totaling
 71,335 net rentable square feet located
 at 895 Thornton Road.

 

 ATLANTA, GA. Jan. 29, 2024—DXD Capital, a self storage private equity investor, announced the opening of a brand new, Class A, climate-controlled storage facility in the Atlanta suburb of Lithia Springs, Georgia. The facility will have 703 individual storage units totaling 71,335 net rentable square feet located at 895 Thornton Road.

The new three-story facility, operated by Public Storage, is set apart by its location adjacent to  Home Depot. Offering great visibility and convenient access to freeways, the facility has two on-grade levels, allowing for first-floor climate-controlled unit availability throughout the majority of the facility. Valston served as the general contractor and Century Bank was the construction lender.

The property was acquired in June 2022 through DXD’s first fund, DXD Self Storage Fund I, which launched in November 2020 and closed in November 2021 at $63 million of committed capital. The company launched its second fund in June 2022 and has since invested in seven self storage projects across the United States.

Drew Dolan

"Having a storage facility next to a Home Depot is gold," said Drew Dolan, Principal and Fund Manager. "Our customers and their customers overlap so well. When homeowners and renters move or remodel they go to Home Depot, and they will drive by our Public Storage on the way.

 "Our development team did a great job designing this facility with two floors at grade level. Instead of leasing one ground floor where the rents are higher than elevated floors, we get to lease two. -

DXD Capital

DXD Capital is a data-driven real estate private equity company focused solely on the self storage sector. DXD utilizes unprecedented access to data and proprietary tools to source best-in-class investments for its investors. For more information, please visit www.dxd.capital.

 CONTACT:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

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JLL Capital Markets arranges $12 million refinancing of the 192-unit / 504-bed 2909 Oliver, a Wichita State University student housing community in Wichita, KS

Patricia Heminger

CHICAGO, IL, Jan. 29, 2024 – JLL announced today that it has arranged the $11.8 million refinancing of 2909 Oliver, a 192-unit / 504-bed student housing community located at Wichita State University in Wichita, Kansas.

Katia Novi

JLL represented the borrower, Calidus to secure the five-year, fixed-rate loan through through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.

Jonathan Cameron-Hayes

Managed by The Preiss Company, the 2008-built property features two-bedroom and three-bedroom units with bed-bath parity, walk-in closets, spacious kitchens, faux wood flooring and in-unit washers and dryers. 

 Dan Kearns

Community amenities include a pool, a 24-hour fitness center, a game room lounge, a study library, a volleyball court, a basketball court and picnic areas.

 

Situated at 2909 N Oliver St., the community is located less than a mile from Wichita State University’s campus and its approximately 17,018 students. Additionally, the property is six miles to downtown Wichita.

 

“This is a property that has consistently performed well with strong on-site management and a focused ownership group," commented Calidus’ CEO Jonathan Cameron-Hayes, “We are committed to investing additional capital expenditures to give our residents a good experience at 2909 and all our other properties.”

 

The JLL Capital Markets Debt Advisory team was led by Senior Director Dan Kearns, Closer Patricia Heminger and Analysts Dave Hunter and Katia Novi.

Dave Hunter

“As a result of the strong sponsorship and incredible property performance since 2909 Oliver was acquired by Calidus 10 years ago, Freddie Mac was able to provide very compelling five-year, fixed-rate financing,” said Kearns.

 

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. 

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

 JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. 

2909 Oliver, a 192-unit / 504-bed student
housing community located at
Wichita State University in Wichita, KS

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

 

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

 

Contact:

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com