MESSENGER NEWS
SROA Closes Nineth Fund In April, SROA Capital completed the first closing of its ninth flagship fund, SROA Capital Fund IX. Up to 15 percent of the fund will be focused on originating senior bridge loans, mezza- nine loans, and preferred equity investments to self-storage developers and operators. SROA Capital Fund IX secured near- ly a third of its goal ($230 million of its $750 million target fund size). According to the press release, 75 percent of the capital commitments came from re-up investors, including insurance companies,
foundations, health systems, and single-family/ multifamily offices.
Firm Secures Construction Financing EagleBridge Capital has secured construction financing of $22 million for a new facility in Redding, Conn. Currently under construction, the facility will feature 675 units of various sizes and flex/industrial units. EagleBridge’s Brian Walsh arranged the financing through a national bank.
StorageMart Refinances Portfolio Per property records filed in Broward County, Fla., StorageMart has refinanced a portion of its portfolio with $1.3 billion from Citigroup, reupping its existing debt from the same lender. StorageMart previously secured $644.1 million from Citi Real Estate Funding in December 2018 for its portfolio, which was collateralized with an additional $170 million in mezzanine debt in a CMBS-backed deal due to mature in January 2024. As of May, $633.1 million of the senior mortgage remained outstanding. The portfolio is now valued at $1.9 billion and spans 19 states.
People
Misty Hembree has joined MakoRabco in regional sales and business development to enact strategic initiatives to drive growth and expand business opportunities within the United States. Prior to spending seven years in the marketing depart- ment of Janus International, she was an accomplished real estate broker.
In June,
SelfStorageInvesting.com appointed Anne Mari DeCoster to presi- dent of Self Storage Investing and its suite of companies. She has more than 20 years of industry experience, most recently serv- ing as COO of Storelocal. As president of Self Storage Investing, DeCoster will be
responsible for leading the executive team and overseeing all aspects of the companies, including strategic planning, busi- ness development, and operational excellence.
Marcus & Millichap recently promotedMeir Perlmuter from vice president of investments to first vice president of invest- ments in the firm’s Columbus office. Perlmuter, who primarily works with buyers and sellers in Florida and the Northeast,
26 August 2023 •
MiniStorageMessenger.com
joined the firm’s Hatcher Coe Group in 2019. Ranking among Marcus & Millichap’s top 100 brokers last year, he’s closed more than $637 million in commercial real estate transactions.
Janus International Group, Inc. has selected Pete J. Frayser to fill the newly created position of chief commercial officer. He will be based in Atlanta, Ga., and report directly to CEO Ramey Jackson. Frayser has more than 15 years of experience and has served as the company’s vice president of sales and estimating since 2019. He’s also assisted Janus in several other capacities, including managing its business development efforts in Latin America, Asia, and Africa. Prior to Janus, Frayser worked in real estate development in Valen- cia, Spain, and later in a number of roles across the international sports industry with the NBA and MLB. He earned a Bachelor of Business Administration in international business and a BA degree in Spanish from the University of Georgia and a master’s degree in international trade from the University of Castilla La Mancha in Spain.
Pacific Oak Capital Markets, LLC, has hired Derek Mazza as regional vice president for the Northeast Territory. Mazza, a veteran of the financial services industry with more than 18 years of experience, will build and maintain relationships with financial intermediaries throughout Connecticut, Eastern Penn- sylvania, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. His previous experience includes senior vice president with Cantor Fitzgerald and roles with Realty Capital Securities, Boston Capital, and Fidelity Investments. He earned a bachelor’s degree in economics from Stonehill College and holds his FINRA series 7, 63, and 65 licenses.
The Investment Real Estate Group of Companies (IREGC) has promoted Elizabeth “Liz” Kirchner to human resources coor- dinator. She joined Moove In Self Storage in 2020 as a property manager and was named property manager of the year in 2021. As the human resources coordinator, Kirchner will be responsible for maintaining employee files and personnel-related data, tracking the annual performance review process, assisting in the coor- dination and implementation of employee orientation, training programs, compensation and benefits, and completing employ- ment eligibility verification forms.
Eric Gardner has assumed the role of director of marketing for Five Star Storage. With an extensive background in strategic marketing and a track record of driving business growth, he will focus on enhancing brand recognition, expanding market reach, and driving customer engagement through innovative and target- ed campaigns as well as maintaining strategic partnerships with key vendors. Gardner previously served as the manager of client services and lead self-storage strategist at Go local Interactive, Five Star’s premier digital marketing partner.
The Investment Real Estate Group of Companies (IREGC) recently promoted Justin Quinto to vice president of acquisi- tions and asset management. As the leader of the acquisitions
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72
