Greysteel Secures $2.7M LP Equity for A Self-storage Property in Longview, TX

Greysteel, a national commercial real estate investment services firm, has arranged Joint Venture Equity for Stor 4 Now, a self-storage property in Longview, TX. On behalf of Starr Equity, Greysteel was able to secure joint-venture financing from Sundance Bay, an institutional real estate investment firm.

This transaction represents Starr’s second execution with Sundance, with their first being a two-property self-storage portfolio in Texas acquired together in August. The relationship will enable Starr, the general partner, to continue to expand its self-storage footprint. Greysteel’s Associate Landon Cibulka represented Starr Equity and led the transactions. The other party, Karr Cunningham Self Storage, was represented byKarr Cunningham Self Storage of M&M . Terrydale Capital sourced the debt for the project.

The Longview area is in high demand for storage space. The additional climate-controlled units that the sponsor builds will bring a much-needed product to the area as well as additional uncovered parking spaces. Further, the sponsor has hired Cubesmart to oversee property management, the company’s first branded location in Longview.

About Starr Equity
Starr Equity is led by Noah Starr, a real estate investor based in Austin, Texas. After graduating from the University of Texas, Austin, Noah worked for two fast-paced and dynamic investment companies. Since its inception, Starr has acquired five facilities totaling 250,000 SF, with four projects featuring an expansion component.Recently, Marina Martinez joined as Co-Founder, and together, they are seeking to acquire an additional 750,000 SF of projects in Texas and other Sunbelt states.
https://starrequity.com/

ABOUT GREYSTEEL:
Greysteel is a leading commercial real estate and capital markets services firm with 17 offices located in New York, NY; Los Angeles, CA; Dallas, TX; Fort Worth, TX; Houston, TX; Washington, D.C.; Philadelphia, PA; Phoenix, AZ; Denver, CO; Baltimore, MD; Charlotte, NC; San Antonio, TX; Austin, TX; Norfolk, VA; Oklahoma City, OK; New Orleans, LA; and Newport Beach, CA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital, middle-market, and institutional real estate assets. www.greysteel.com.