SmartStop Self Storage REIT, an internally managed real estate investment trust and an owner and operator of self-storage facilities in the United States and Canada, and AXCS Capital, a Los Angeles-based commercial real estate investment management firm, announced the formation of a real estate credit joint venture targeting bridge debt and preferred equity investments across the self-storage sector in the United States.
The venture will deploy capital across the full spectrum of structured capital solutions, including senior loans, mezzanine financing, preferred equity and hybrid instruments. Target investment scenarios include ground-up development financing, value-add acquisitions and conversions and recapitalizations of existing assets requiring rescue or bridge capital. The venture will have an initial target of $100 million in invested capital and the ability to recycle capital throughout the venture’s term.
The formation of the venture reflects both partnersâ€
