MESSENGER NEWS
BankRI Provides Financing In spring 2022, the Commercial Real Estate Division of Bank Rhode Island (BankRI)
finalized a deal with Malibu Investments, LLC, to
provide a second round of financing for the expansion of 401 Storage in Warwick, R.I. The bank is providing $3.5 million in capital to facilitate construction. Malibu Investments, LLC, will use the financing to expand the footprint of the complex, adding more than 100,000 square feet of storage space through an additional 292 units.
Amanda Holt
Thorofare Capital Closes Loan Thorofare Capital has closed a $20 million loan for Raintree & Pima Self Storage Partners, an affiliate of Phoenix-based 1784 Capital Hold-
ings. The funds will be used to complete construction of an 81,435-square-foot, 944-unit Raintree Life Storage location in Scottsdale, Ariz. The $20 million floating-rate financing carries an initial term of 1.5 years and includes two six-month extension options. Additionally, the loan features interest-only payments for its entire duration and is nonrecourse, subject to customary completion and carry guarantees.
People
SROA Capital LLC, which operates the Storage Rentals of America self-storage brand, has appointed Lauren Weiss as director of accounting. She’ll be responsible for all property accounting, accounts payable, financial reporting, insurance, and property-tax functions. Weiss has spent more than 15 years in executive-leadership roles within the real estate industry. She earned a bachelor’s degree in finance and marketing from American University in Washington, D.C., and an MBA from New York University.
Moove In Self Storage has expanded its facilities maintenance team with the addition of Freddie Pack as the regional facilities manager. He joined the team in February 2022 and is tasked
with daily upkeep and maintenance of 55 self-storage locations across six states as well as assisting the construction department with site assessments and special projects. Pack began his facility management career in the United States Navy in 1979, serving as the maintenance manager for Afloat Training Group Atlantic.
OpenTech Alliance recently announced the recruit- ment of top eCommerce executive Amanda Holt as vice president of product for the company’s online auction platform. Holt, who joined the StorageTrea- sures team in March 2022, has been a noteworthy leader in the eCommerce space for over 15 years. She will provide strategic direction and oversight
for the platform, focusing on improvements to deliver an optimum experience for both the storage auction seller and buyer.
Carrie Zimmerman
Investment Real Estate, LLC (IRE) recently announced two promo- tions and a new hire. Erik Peckman was promoted to senior financial analyst. He joined the Invest- ment Real Estate Group of Companies (IREGC) in January 2020 as a part of the accounting team. Peck- man supports the operations team by conducting detailed underwriting of transactions for investors, owners, and lenders, as well as regular performance reporting for the portfolio stores managed by Investment Real Estate Management. He gradu- ated from the University of Delaware with a degree in finance. Carrie Zimmerman has been promoted to accounts payable/accounting supervisor. Her responsibilities include providing key support in banking and treasury, accounts payable, accounts receivable, account analysis review, and financial reporting. Brian Davison was hired as vice presi- dent of brokerage; he is responsible for leading a team of sales agents and support staff in the listing and selling of self-storage properties throughout the 12 northeast and mid-Atlantic states. Davison will be focusing on driving company growth and
Erik Peckman Brian Davison
profitability throughout the target market. Prior to IRE, he was a commercial realtor at High Associates for nearly 10 years.
Save The Date!
September 6-9 – SSA Fall Conference & Trade Show, MGM Grand, Las Vegas, NV. Visit
www.selfstorage.org.
13 – Georgia Self Storage Association Revenue Management Meeting, Columbus Marriott, Columbus, GA. Visit,
www.gassa.org. 21-22 – National Portable Self Storage Conference (West Coast), National Portable Storage Association Seminar, JW Marriott Resort & Spa, Palm Springs, CA. Visit
www.npsa.org. 21-22 – Tennessee Self Storage Association Fall Conference & Expo, Hilton Garden Inn, Mt. Juliet, TN. Visit
www.tnssa.net.
27-28 – PASSA Fall Conference, Marriott Lancaster at Penn Square, Lancaster, PA. Visit
www.paselfstorage.org. 27-29 – FEDESSA Conference & Tradeshow, Tivoli Marina Vilamoura Algarve Resort, Quarteira, Portugal,
www.fedessa.org. 28 – New Hampshire Self Storage Association Vendor Spotlight, Best Western Plus Executive Conference Center, Manchester, NH. Visit
www.nhssa.net. 29 – Northeast Self Storage Association Fall Retreat, Publick House Historic Inn, Sturbridge, MA. Visit
www.nessa.org.
MiniStorageMessenger.com • September 2022 31
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