Store Space Self Storage closes on $300 million bridge facility

By William Gullotti

Buffalo., N.Y., July 12 – Store Space Self Storage with Talonvest Capital, Inc. as arranger closed on a $300 million bridge lending facility, according to a press release on Tuesday.

According to the press release, the facility is funded by a British universal bank and includes a $200 million accordion and will be utilized to support a recently-announced strategic partnership between Store Space and a Canadian real estate company.

Interest will be SOFR-based.

Additional negotiated facility benefits include earn-out advance opportunities and interest-only payments until maturity.

The facility’s three-year tenor also comes with two 12-month extension options.

“Talonvest’s long-standing and deep relationship with the lender’s vice chairman was invaluable in getting this facility closed,” said Chris Harris, chief executive officer of Store Space.

Talonvest’s team included Thomas Sherlock, Eric Snyder, Jim Davies and Ivan Viramontes.

Florida-based Store Space Self Storage is a self-storage operator and third-party management company.

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