Self-storage operator StorageMart, which\u00a0operates more than 300 properties across Canada, the United Kingdom and the U.S., and its subsidiary Manhattan Mini Storage, have issued a statement outlining the ways in which the company expanded in the first quarter of the year. In addition to acquiring 20 facilities in Illinois, Missouri, New Jersey and New York, it\u00a0added three properties to\u00a0its third-party\u00a0management portfolio, according to a press release.\u00a0The managed properties are in Bronx, New York; Cottleville, Missouri; and Trenton, New Jersey.<\/p>\n
StorageMart also refinanced\u00a0the Manhattan Mini Storage facility at 78 Walker St. in Manhattan, New York,\u00a0using its own\u00a0bridge lending program\u00a0in March. The $23.3 million\u00a0bridge loan\u00a0has a\u00a0three-year fixed rate.\u00a0The company\u00a0launched the program<\/a>\u00a0in July 2024, the release stated.<\/p>\n \u201cOur continued growth across both owned and third-party managed facilities reflects the strength of our operational platform and the trust owners place in our team,\u201d said Herby Bowman, senior vice president\u00a0of StorageMart and Manhattan Mini. \u201cAs more owners look for experienced operators with strong marketing capabilities and profitable systems, our third-party management program continues to provide a powerful solution for maximizing property performance.\u201d<\/p>\n