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Starwood team lends $672M for outdoor U.S. storage lots
Outdoor storage properties are an increasingly important link in the global supply chain as e-commerce grows
Shipping containers in Newark, N.J. (Kena Betancur/Bloomberg)
Key Takeaways:
- Starwood Property Trust and Realterm provided a $672 million loan to refinance debt on a 78-property industrial outdoor storage portfolio across 33 U.S. markets.
- The portfolio spans 830 acres and is owned by affiliates of Stonemont Financial Group and Cerberus Capital Management, highlighting investor interest in logistics-linked storage.
- The refinancing replaces an existing $486 million loan as Realterm expands lending amid reduced bank activity and borrowers seek sector-focused capital providers.
Starwood Property Trust Inc. and Realterm, a global investment manager focused on transportation, provided a $672 million loan for a group of U.S. industrial outdoor storage lots.
The 78-property portfolio, encompassing 830 acres of land across 33 markets, is owned by affiliates of Stonemont Financial Group and Cerberus Capital Management, according to a statement Aug. 18. The debt will refinance an existing $486 million loan.
Investors including Blackstone Inc. have been drawn to outdoor storage properties, which are an increasingly important link in the global supply chain as e-commerce grows and customers expect quicker deliveries.
Realterm has been expanding its lending platform as traditional banks pull back.
“Borrowers are continuing to seek lenders with a deep understanding of the industrial real estate and logistics sectors,” Paul Sisson, the firm’s head of credit, said in the statement.
