StorageBlue Refinances Self-Storage Portfolio, Eyes National Expansion

StorageBlue LLC, a New Jersey-based self-storage operator that launched earlier this year with four facilities, has refinanced its portfolio by securing a $31.25 million loan from Natixis Real Estate Capitol LLC. The company restructured its financing to aid its expansion plans. In April, co-founder and CEO Alan Mruvka said he intended to scale the brand nationally within 18 months.

StorageBlue LLC, a New Jersey-based self-storage operator that launched earlier this year with four facilities, has refinanced its portfolio by securing a $31.25 million loan from Natixis Real Estate Capitol LLC. The company restructured its financing to aid its expansion plans. In April, co-founder and CEO Alan Mruvka said he intended to scale the brand nationally within 18 months.

"Natixis made this process as seamless and easy as possible, as we now have our eye on expansion," said Mruvka, who founded the business with his father, Murray Mruvka. StorageBlue intends to expand through the acquisition of existing self-storage properties as well as new developments, according to a company press release.

"One of the things we are most proud of at StorageBlue is that we continue to re-invest our capital into improving the physical properties as well as incorporating technological advances into a typically outdated industry," Alan Mruvka said. "StorageBlue's 365-days-a-year access, long service hours and regular upgrades to our facilities are some of the key reasons we have enjoyed so much success at our properties. We're disrupting a stagnant self-storage industry."

The company has invested in mobile usability, online-payment management and “high-tech” security systems at its locations, according to the release.

Alan Mruvka is best known as the founder of E! Entertainment Television. He has more than 30 years of experience in the real estate and entertainment industries and previously helped build the American Self Storage brand, according to an earlier release.

StorageBlue’s current portfolio serves the New Jersey communities of Hoboken, Jersey City, Newark and Union City.

Sources:

TAGS: Financing News
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