#self-storage #United States #St. Paul #Banner Real Estate

Banner Real Estate Group Acquires Self-Storage Facility in St. Paul

In a significant move to bolster its portfolio, Banner Real Estate Group has successfully acquired an impressive 88,514-square-foot, drive-in, climate-controlled self-storage facility located at 875 Montreal Way in St. Paul, Minnesota. This acquisition marks yet another step in the company’s strategy to expand into high-growth markets across the United States, highlighting its commitment to securing premier self-storage assets in regions exhibiting strong economic fundamentals.

The transaction was completed in conjunction with RGA ReCap Inc. on behalf of Reinsurance Group of America, Inc., showcasing a collaborative effort toward mutual growth in the real estate landscape. Trent Acuff, Chief Investment Officer at Banner Real Estate Group, stated, "This acquisition reflects our commitment to identifying and investing in premier self-storage assets in markets with strong fundamentals. We're excited to partner with RGA ReCap on this deal as we continue building a portfolio that includes self-storage facilities and multifamily properties across the U.S. with compelling demographics and favorable supply-demand dynamics."

Originally transformed from a warehouse and office space into a Class A self-storage facility in 2020, the property encompasses 8.3 acres at the intersection of the Highland Park and Summit Hill neighborhoods. Conveniently located just 3.6 miles from downtown St. Paul and a mere 7.5 miles from downtown Minneapolis, the facility is poised to serve a flourishing market.

Within a 3-mile radius of the facility, there are 14,300 multifamily units, with a 14% increase in supply under construction or in the pipeline. This area also boasts over 55,000 households, further solidifying the demand for self-storage solutions in the region. The acquisition underscores Banner's strategy to enhance its footprint in multifamily, self-storage, and industrial properties on a nationwide scale, focusing on regions characterized by appealing demographics and favorable supply-demand dynamics.

To support this venture, Highland Bank of St. Paul provided the necessary debt financing, while Talonvest Capital, Inc. served as a reliable mortgage broker in the transaction. This acquisition not only adds substantial value to Banner's expansive portfolio but also emphasizes their robust operational strategy moving forward.

About Banner Real Estate Group

Established in 1989 and headquartered in Chicago, Banner Real Estate Group, along with its affiliates, has been a prominent player in the real estate market. The company dedicates its efforts to acquiring, managing, and developing multifamily and self-storage properties, as well as expanding into industrial real estate ventures nationwide. With over $2 billion in investments since its inception, Banner remains committed to capital preservation, value creation, and wealth generation for their esteemed investors, including high-net-worth individuals, family offices, and institutional partners.

For media inquiries, contact Maureen Richardson at [email protected] or call (914) 686-5599.

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