Basis Investment Group Closes $60M Senior Bridge Loan to Refinance Six Extra Space Self-Storage Facilities
Basis Investment Group, a national commercial real estate debt and equity investment platform, has announced the closing of a $60 million senior bridge loan to refinance a portfolio of six newly constructed Extra Space self-storage facilities.
The loan is structured as a senior bridge facility. Specific loan terms, including rate, index, extension options, and underwritten occupancy targets, were not disclosed in the announcement.
Deal Structure
The $60 million senior bridge loan covers six newly constructed facilities operated under the Extra Space brand. Property-level details — including addresses, markets, rentable square footage, and unit counts for each of the six facilities — were not provided in the announcement.
Basis Investment Group's Broader Platform
The self-storage bridge loan adds to Basis Investment Group's activity in structured debt and equity transactions. The firm has been a financing partner on several large urban and transit-oriented developments, including a construction financing package for BRP Companies' 90Ninety mixed-income housing development in Jamaica, Queens — a 715,000-square-foot project at 166-20 90th Avenue — and a $25 million equity investment in Triangle Equities' $500 million Crossings at Brick Church Station transit-oriented mixed-use development in East Orange, New Jersey.
The East Orange project is described as the largest-ever real estate development in that city and is slated to deliver 820 mixed-income rental units alongside approximately 200,000 square feet of retail and commercial space and a 1,200-space parking garage. Investment partners on that deal include Goldman Sachs and co-developer Incline Capital. A $317 million financing package was finalized for Phase 1 of that project.
Basis has also expanded its multifamily lending capabilities through its subsidiary, Basis Multifamily Finance, which received Fannie Mae Delegated Underwriting and Servicing approval, making it an approved DUS lender within Fannie Mae's network. Fannie Mae noted that adding Basis advances its commitment to diversity and inclusion, as Basis is a minority- and women-owned business. Basis Multifamily Finance has also closed Freddie Mac conventional multifamily loans, including three loans totaling $27.8 million for affordable housing refinancings in Texas.
About Basis Investment Group
Basis Investment Group is a national commercial real estate debt and equity investment platform led by CEO Tammy K. Jones. Its subsidiary, Basis Multifamily Finance, holds Fannie Mae DUS and Freddie Mac lending approvals. The firm has also entered an origination partnership with Genesis Bank, a California-chartered commercial bank serving Los Angeles, Orange, Riverside, and San Bernardino Counties.