ACORE Capital Provides $140M For Eight-Property Self-Storage Portfolio

July 22, 2026 - 04:35

A portfolio of eight self-storage facilities spread across seven northeastern states has secured $140 million in financing from ACORE Capital. The properties, which total 7,650 units, are managed jointly by The Ardent Companies and StepStone Real Estate.

The portfolio includes locations in New York, New Jersey, Pennsylvania, Massachusetts, Connecticut, New Hampshire, and Maine. Each building operates under the Ardent brand, offering climate-controlled units and drive-up access in suburban and urban markets. The loan will be used to refinance existing debt and fund capital improvements across the sites, according to sources familiar with the transaction.

Self-storage has remained a resilient asset class despite broader economic uncertainty. Demand for storage space tends to hold steady during both expansions and downturns, as people move, downsize, or need temporary space for business inventory. The northeastern markets in this portfolio benefit from dense population centers and limited new construction, which supports occupancy and rental rates.

ACORE Capital, a commercial real estate lender based in San Francisco, has been active in the self-storage sector over the past year. The firm focuses on transitional assets and often provides bridge loans for properties undergoing repositioning or lease-up. The Ardent Companies, headquartered in Atlanta, operates a network of self-storage facilities under multiple brand names. StepStone Real Estate, a global investment firm, co-owns the portfolio through one of its dedicated real estate funds.

No additional details on the loan terms or individual property addresses were disclosed.