A joint venture between Hines and Trez Capital secured $108 million in financing with New York Life Real Estate Investors for an a 13-property, self-storage portfolio located throughout the Dallas-Fort Worth Metroplex.
On behalf of the borrower JLL Capital Markets arranged the five-year, fixed-rate loan through New York Life Real Estate Investors, which was able to provide an early rate lock, interest-only payments, and prepayment flexibility early in the loan term.
“This transaction marks a key milestone for our self-storage platform, reflecting our strategy to deliver class-A, accessible storage solutions in high-barrier markets,” said Robb DeJean, managing director at Hines. “We are excited to expand Hines’ longstanding relationship with New York Life Real Estate Investors and want to thank all parties involved, including JLL, who led these efforts.”
