Snapbox Self Storage Philadelphia is a 104,000-square-foot self-storage facility comprising 1,068 units in northeast Philadelphia. Originally developed in 2021, the property is situated within Liberty Plaza, an established retail center benefiting from strong surrounding population density and convenient access to major regional transportation corridors. Its location and operating profile position the asset to benefit from durable self-storage demand within a resilient urban-suburban market.
Tremont Realty Capital provided a $16.0 million floating-rate first mortgage loan to refinance the property, delivering a financing solution designed to support continued ownership and operational performance. The investment was underpinned by strong occupancy, attractive local market fundamentals and sponsorship from an experienced self-storage owner with significant equity invested in the asset.
This transaction demonstrates Tremont's ability to finance high-quality self-storage assets supported by compelling demographic characteristics and durable demand drivers. By combining sector expertise with a flexible bridge lending approach, Tremont structured a solution aligned with the sponsor's long-term investment strategy.
The transaction was arranged by JLL on behalf of Self Storage Capital Partners, highlighting Tremont's continued collaboration with leading real estate sponsors and capital markets professionals.