A joint venture between Hines and Trez Capital has closed financing for a 13-property self-storage portfolio that will be spread across Dallas-Fort Worth.
JLL Capital Markets worked with a joint venture between Hines and Trez Capital to secure a loan for a self-storage portfolio push across Dallas-Fort Worth.A joint venture between Hines and Trez Capital has received financing for a 13-property self-storage portfolio spread across Dallas-Fort Worth.
Houston-based Hines is an investor and developer of real estate, while Trez Capital, which has its head office in Vancouver with a substantial presence in Dallas, is an investor in real estate and a provider of debt and equity financing.set on 608 acres in Terrell. Its first phase is expected to include 210 lots, and upon completion, will span 1,500 single-family homes.
“This transaction marks a key milestone for our self-storage platform, reflecting our strategy to deliver Class A, accessible storage solutions in high barrier markets,” said Hines managing director Robb DeJean.JLL Capital Markets, the capital arm of commercial real estate services firm JLL, arranged for a five-year, fixed-rate loan.
New York Life Real Estate Investors provided the joint venture with an early rate lock, interest-only payments and prepayment flexibility early in the loan term.“Our strategic partnership with Hines in our self-storage portfolio has yielded a remarkable investment opportunity.
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