Affinius Capital announced the closing of a $45 million loan to finance Summerland Storage Partners’ acquisition of a class A, three-property self-storage portfolio located in Lynbrook, N.Y.; Port Jefferson Station, N.Y.; and Framingham, Mass. The proceeds of the loan were used to acquire the properties and Summerland Storage Partners intends to hold the assets long term.
“This transaction reinforces Affinius’ commitment to financing high-quality assets and expands our footprint in two of the country’s most supply-constrained metropolitan markets, where density, transit access and diversified demand support the long-term strength of the self-storage sector,” said Tyler Figley, senior vice president at Affinius Capital. “The institutional sponsorship of Summerland Storage Partners, along with the portfolio’s modern amenities, align with our investment philosophy and long-term vision.”
The portfolio includes three self-storage facilities totaling 274,396
