UTEX Storage Partners has secured USD 42.5 million in financing. This was for the refinancing of a portfolio of two self-storage properties in the cities of Coral Gables, Florida, and Pembroke Pines, Florida, in the greater Miami area. Affinius Capital and Axonic Capital provided the debt financing. This marks the fifth joint transaction of this type between the two companies. Greysteel arranged the transaction.
The properties concerned will comprise a total of 2,597 units after refinancing. The facility in Pembroke Pines will span four storeys and offer 1,097 units. The Coral Gables facility will be expanded from just under 1,000 units to 1,500 units.
Strategic Location and Market Development
Tyler Figley, Senior Vice President at Affinius Capital, described both properties as “institutional self-storage assets” in a statement. He emphasised that the two cities near Miami have a limited supply of self-storage facilities. At the same time, they have seen “sustained population growth”.
Figley added that both properties are excellently positioned. They are located in highly visible locations and serve prime residential areas with limited new self-storage provision. This refinancing underscores the ongoing attractiveness and stability of the self-storage sector in strategically important markets.
- —Transaction volume: USD 42.5 million.
- —Financiers: Affinius Capital and Axonic Capital.
- —Arrangement: Greysteel.
- —Locations: Coral Gables, Florida, and Pembroke Pines, Florida.
The collaboration between Affinius Capital and Axonic Capital on this refinancing demonstrates a recurring partnership between the two companies. This highlights their continued investment strategy in self-storage markets, particularly in regions with strong demand and limited supply. Such transactions contribute to strengthening the infrastructure for private and commercial storage needs.
