Angelo Gordon and Andover Properties have secured $360 million in financing for a 50-asset, 3.9 million-square-foot nationwide self-storage portfolio. The portfolio is well-leased and situated in robust major markets and submarkets throughout the nation.
Newmark Group organized for the financing. The group that closed the debt was led by Vice-Chairmen and Co-Heads of Newmark Debt and Structured Finance Jordan Roeschlaub and Dustin Stolly, together with Senior Managing Director Nick Scribani and Vice Chairman Aaron Swerdlin and Senior Managing Director Taucha Hogue of Newmark’s Self-Storage group. Goldman Sachs supplied the mortgage, and the debtors have been represented by SPC LLP.
Angelo Gordon has invested in business actual property since 1993 and has acquired over $40 billion of properties globally. The agency takes a value-added strategy by the acquisition of sub-performing actual property properties throughout a spread of geographic markets and product varieties.
Andover Properties’ present portfolio totals over 12.1 million sq. toes throughout 152 amenities in 18 states and operates below the Storage King USA model.
