TPG Angelo Gordon and its partner Andover Properties have received a $315 million loan to refinance their large self-storage portfolio, which contains 43 assets.
The properties are spread out across 11 states and in 24 different markets, operating under the Storage King USA brand, Andover's self-storage platform. This portfolio covers a total of 3.1 million rentable square feet and more than 21,300 units. The exact state and regions were not revealed.
It's unclear when the duo first purchased it, but the portfolio has experienced net operating income growth of 40 percent since the acquisition.
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