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    /PRNewswire/ – Banner Real Estate Group and its affiliates have acquired an 88,514‑sq‑ft, climate‑controlled, drive‑in self‑storage facility at 875 Montreal Way, St. Paul. The purchase was made in partnership with RGA ReCap Inc. (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Inc., marking another step in Banner’s expansion into high‑growth U.S. markets.

    “This deal reflects our focus on premier self‑storage assets in markets with strong fundamentals,” said Trent Acuff, CIO of Banner Real Estate Group. “We’re pleased to work with RGA ReCap as we build a portfolio that includes self‑storage and multifamily properties in locations with compelling demographics and favorable supply‑demand dynamics.”

    Originally a warehouse and office space, the property was redeveloped into Class A self‑storage in 2020. It sits on 8.3 acres at the intersection of the Highland Park and Summit Hill neighborhoods—just 3.6 mi from downtown St. Paul and 7.5 mi from downtown Minneapolis—making it ideal for a thriving market. Within a 3‑mile radius are 14,300 multifamily units, with more than 14 % of supply under construction or in the pipeline, and over 55,000 households. The acquisition underscores Banner’s strategy to grow its footprint in multifamily, self‑storage, and industrial properties nationwide, focusing on locations with strong demographics and favorable supply‑demand dynamics.

    Debt financing was provided by Highland Bank of St. Paul, with Talonvest Capital, Inc. acting as the mortgage broker.

    About Banner Real Estate Group

    Founded in 1989 and headquartered in Chicago, Banner Real Estate Group is a family‑owned, independent investment firm that acquires, manages, and develops multifamily, self‑storage, and industrial properties across the United States. With more than $2 billion invested since inception, Banner prioritizes capital preservation, value creation, and wealth generation for high‑net‑worth investors, family offices, and institutional partners.