---
title: "ACORE Capital Provides $140M For Eight-Property Self-Storage Portfolio"
url: https://burnaze.com/article/008bdddb-f29d-473a-87a5-fc9b98496495
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/07/acore-capital-140m-self-storage-portfolio/
author: "Brian Pascus"
category: "Real Estate"
published: 2026-07-21T17:48:21.000Z
modified: 2026-10-31T13:15:57.764Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/07/Tony-Fineman-Extra-Space-Storage-credit-Getty-Images.jpg?quality=80&w=1200
---

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

**TL;DR:** A joint venture between the Ardent Companies and StepStone Real Estate has secured a $140 million loan from ACORE Capital to refinance a portfolio of eight self-storage properties. The properties, managed by Extra Space Storage, feature 7,650 units and total 742,855 square feet of space.

*By Brian Pascus, originally published in Commercial Observer on 2026-07-21. [Read the original](https://commercialobserver.com/2026/07/acore-capital-140m-self-storage-portfolio/).*

## Story

A joint venture between the **Ardent Companies** and **StepStone Real Estate** has secured a $140 million loan to refinance a portfolio of eight, Class A self-storage properties in seven northeastern U.S. states, according to a release.

**Acore Capital** provided the debt, structured as a floating-rate loan, while a **JLL Capital Markets** team of **Brian Somoza, Steven Klein, John Bauman, Campbell Swango** and **Shishir Reddy** arranged the transaction.

JLL’s Klein noted in a statement that the institutional investment from ACORE Capital was attracted to the deal due to the supply-constraints of new self-storage across the northeastern U.S. and the experienced sponsorship in that asset class.

“The combination of the Ardent Companies’ development expertise and these best-in-class facilities created a compelling value proposition that resonated strongly with lenders seeking quality exposure to the sector,” said Klein.

Managed by third-party operator **Extra Space Storage**, the eight self-storage properties will feature 7,650 units and total 742,855 square feet of space. Each of the properties is climate-controlled and recently built, according to JLL.

**Thomas Olson**, partner and head of self-storage strategy for the Ardent Companies, called the deal “an important milestone in the continued execution of our self-storage strategy” in a statement, and highlighted his firm’s commitment to the portfolio with StepStone Real Estate.

“We remain focused on optimizing operations and creating long-term value through disciplined asset management and strategic growth,” he said.

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- real estate investment (topic)
- joint venture (topic)
- Brian Pascus (person)
- JLL Capital Markets (company)
- ACORE Capital (investor)
- loan refinancing (topic)
- Extra Space Storage (company)
- Ardent Companies (company)
- StepStone Real Estate (company)
- Brian Somoza (person)

---
Originally reported by Brian Pascus, Commercial Observer (https://commercialobserver.com/2026/07/acore-capital-140m-self-storage-portfolio/). Summarized by Burnaze (https://burnaze.com/article/008bdddb-f29d-473a-87a5-fc9b98496495).