InSite Property Group has received a $140 million construction facility with the ability to expand up to $215 million to fund its development pipeline of class A self-storage assets across the nation.
The financing is part of the company’s ongoing acquisition, development and repositioning strategy that includes a pipeline of 40 projects totaling nearly 5 million square feet of core, class A self-storage product in infill markets across the United States.
The self-storage asset class has seen significant demand from institutional capital investors as it has been one of the strongest-performing asset classes through the COVID-19 pandemic. At the start of the year, street rates in almost all markets saw significant improvements, according to the Yardi Matrix National Self Storage Monthly report.
