{"id":1004325515,"date":"2019-05-22T01:40:37","date_gmt":"2019-05-22T09:40:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004325515"},"modified":"2025-02-28T00:33:05","modified_gmt":"2025-02-28T08:33:05","slug":"metro-storage-lands-78m-refi-for-8-property-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/","title":{"rendered":"Metro Storage Lands $78M Refi for 8-Property Portfolio"},"content":{"rendered":"<div id=\"attachment_1004325518\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004325518\" data-attachment-id=\"1004325518\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/screen-shot-2019-05-20-at-4-10-02-pm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\" data-orig-size=\"867,651\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"metro storage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;A Metro Storage facility. Image courtesy of Talonvest&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png?w=867\" loading=\"lazy\" class=\"wp-image-1004325518 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png 867w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png?resize=768,577 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004325518\" class=\"wp-caption-text\">A Metro Storage facility.<em> Image courtesy of Talonvest Capital<\/em><\/p><\/div>\n<p>Metro Self Storage has secured a $78 million refinancing loan for an eight-property portfolio in Illinois, New Jersey and Pennsylvania. Working on behalf of the borrower, Talonvest Capital&nbsp;negotiated the non-recourse, four-year loan.<\/p>\n<p>The properties, totaling approximately 630,000 square feet, are located in suburban areas of Chicago, New Jersey and Pennsylvania. Five of the locations opened between June 2017 and November 2018, while the other three facilities have recently received Certificates of Occupancy. All of the storage facilities are climate-controlled and are situated in densely populated, high visibility areas. &nbsp;<\/p>\n<p>The loan, provided by an insurance company, includes full-term IO payments as well as reserves for interest and operations at the properties. The loan was structured with a 12-month extension term and release provisions after the 12th payment date of the loan term. A Talonvest team of Kim Leslie Bishop, Jim Davies, Tom Sherlock and Eric Snyder represented Metro Self Storage in the transaction.<\/p>\n<p>Last summer, Metro Storage <a href=\"https:\/\/www.commercialsearch.com\/news\/multi-state-self-storage-portfolio-lands-47m-bridge-loan\/\">secured a $47.4 million bridge loan<\/a> for a seven-property storage portfolio in four states\u2014Minnesota, Wisconsin, New Jersey and Illinois. Meanwhile, just this week, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/metro-storage-opens-ga-facility\/\">opened a 71,335-square-foot facility<\/a> in a former Target store in Austell, Ga.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bridge loan is for Class A facilities situated in suburban areas of Illinois, New Jersey and Pennsylvania. Talonvest Capital negotiated the financing.<\/p>\n","protected":false},"author":745,"featured_media":1004325518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,13,21742,10],"tags":[40886,33581],"class_list":["post-1004325515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-midwest","category-latest","category-northeast","tag-metro-storage-llc","tag-talonvest-capital-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Metro Storage Lands $78M Refi for 8-Property Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metro Storage Lands $78M Refi for 8-Property Portfolio\" \/>\n<meta property=\"og:description\" content=\"The bridge loan is for Class A facilities situated in suburban areas of Illinois, New Jersey and Pennsylvania. Talonvest Capital negotiated the financing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-22T09:40:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-28T08:33:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\" \/>\n\t<meta property=\"og:image:width\" content=\"867\" \/>\n\t<meta property=\"og:image:height\" content=\"651\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/\",\"name\":\"Metro Storage Lands $78M Refi for 8-Property Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\",\"datePublished\":\"2019-05-22T09:40:37+00:00\",\"dateModified\":\"2025-02-28T08:33:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/screen-shot-2019-05-20-at-4-10-02-pm-e1558467031261.png\",\"width\":867,\"height\":651,\"caption\":\"A Metro Storage facility. Image courtesy of Talonvest\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/metro-storage-lands-78m-refi-for-8-property-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Metro Storage Lands $78M Refi for 8-Property Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\",\"name\":\"Holly Dutton\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"caption\":\"Holly Dutton\"},\"description\":\"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. 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